Brief: Corbion FY Adjusted EBITDA Rises To EUR 191.8 Million

Corbion NV

01/03/2024 06:10

March 1 (Reuters) - Corbion NV  CORB.AS :
    * FY SALES € 1,443.8 MILLION; AN ORGANIC INCREASE OF 1.2
    * FY ADJUSTED EBITDA € 191.8 MILLION; AN ORGANIC INCREASE OF
10.3%
    * FOR THE FULL YEAR 2024, WE ARE EXPECTING ORGANIC ADJUSTED
EBITDA
GROWTH FOR THE CORE ACTIVITIES TO  BE ABOVE 15%
    * FOR THE FULL YEAR 2024, WE ANTICIPATE ORGANIC VOLUME/MIX
GROWTH
FOR THE CORE ACTIVITIES TO BE IN  THE RANGE OF 2-6%
    * PROPOSED REGULAR CASH DIVIDEND OF € 0.61 PER SHARE, AN
INCREASE
OF 9% VERSUS PRIOR YEAR REFLECTING THE POSITIVE FREE CASH FLOW
MOMENTUM
    * WE ANTICIPATE ONE-OFF RESTRUCTURING COSTS AMOUNTING TO €
15 – 20
MILLION AS A RESULT OF OUR EARLIER  ANNOUNCED RESTRUCTURING
PROGRAM.
    * OUTLOOK 2024:  COVENANT NET DEBT/COVENANT EBITDA RATIO IS
EXPECTED TO FURTHER IMPROVE TO 1.8 – 2.3X (YEAR END), INCLUDING
THE EMULSIFIER DIVESTMENT PROCEED
    * OUTLOOK 2024:  ESTIMATED CAPITAL EXPENDITURE FOR  2024 IS
BETWEEN EUR 100 AND 110 MILLION
    * OUTLOOK: RECONFIRMING THE POSITIVE FREE CASH FLOW DELIVERY
IN
EXCESS OF € 50 MILLION IN 2024

Source text for Eikon:  ID:nGNE9YCS5G 
Further company coverage:  CORB.AS 

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