Brief: Corbion H1 Adjusted EBITDA Up At EUR 89.9 Million

Corbion NV

10/08/2022 06:11

Aug 10 (Reuters) - Corbion NV  CORB.AS :
    * H1 SALES 687.4 MILLION EUR
    * CORBION FIRST HALF-YEAR 2022 RESULTS
    * CORBION REPORTED NET SALES OF EUR 687.4 MILLION IN H1 2022
    * H1 ADJUSTED EBITDA WAS EUR 89.9 MILLION (H1 2021: EUR 77.1
MILLION; ORGANIC GROWTH: -0.4%)
    * H1 ADJUSTED EBITDA MARGIN WAS 13.1% (H1 2021: 15.0%)
    * H1 NET SALES EUR 687.4 MILLION MILLION VERSUS EUR 515.6
MILLION
YEAR AGO
    * COVENANT NET DEBT/COVENANT EBITDA AT HALF YEAR-END WAS
3.3X
(YEAR-END 2021: 2.6X)
    * H1 FREE CASH FLOW WAS EUR -68.6 MILLION (H1 2021: EUR
-13.6
MILLION)
    * OUTLOOK 2022: WE EXPECT AN ORGANIC SALES GROWTH RATE OF
20-25%
(WAS: 15%-20%)
    * OUTLOOK 2022: WE EXPECT AN ADDITIONAL INPUT COST INCREASE
OF €
150 MILLION IN 2022
    * WE EXPECT AN ADJUSTED EBITDA MARGIN FOR THE FULL YEAR
TOWARDS
THE LOWER END OF THE RANGE OF 12 – 15% FOR OUR CORE ACTIVITIES,
    * WE ARE ON TRACK TO SUBSTANTIALLY IMPROVE OUR ABSOLUTE
ADJUSTED
EBITDA COMPARED TO LAST YEAR.
    * OUTLOOK 2022: THE TOTAL ESTIMATED CAPITAL EXPENDITURE FOR
2022
IS €200-230 MILLION, REFLECTING THE PEAK OF THE INVESTMENT FOR
THE LACTIC ACID PLANT IN THAILAND
    * OUTLOOK 2022: WE EXPECT TO IMPROVE COVENANT NET
DEBT/COVENANT
EBITDA RATIO COMPARED TO THE MID-YEAR POSITION

Source text for Eikon:  ID:nGNElYC2C 
Further company coverage:  CORB.AS 

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