Brief: Corbion H1 Sales At 515.6 Million Euros, Up 15.5%

Corbion NV

10/08/2021 06:12

Aug 10 (Reuters) - CORBION NV  CORB.AS :
    * H1 SALES ROSE 15.5 PERCENT TO 515.6 MILLION EUR
    * H1 ADJUSTED EBITDA WAS EUR 77.1 MILLION (H1 2020: EUR 83.8
MILLION; ORGANIC INCREASE: 4.7%)
    * H1 OPERATING RESULT WAS EUR 70.3 MILLION (H1 2020: EUR
45.7
MILLION)
    * END-H1 FREE CASH FLOW WAS EUR -13.6 MILLION (H1 2020: EUR
-12.7
MILLION)
    * FOR OUR CORE ACTIVITIES WE NOW EXPECT ORGANIC NET SALES 
GROWTH
IN THE 12-15% RANGE IN 2021 (WAS: 7-10% RANGE), BEING MOSTLY
VOLUME DRIVEN
    * H1 NET SALES EUR 515.6 MILLION VERSUS EUR 492.2 MILLION
YEAR AGO
    * WE CURRENTLY EXPECT PRICE INFLATION RELATED TO RAW
MATERIALS AND
FREIGHT FOR OUR CORE ACTIVITIES TO AMOUNT TO € 30 MILLION IN
2021
    * NET DEBT/EBITDA AT HALF YEAR-END WAS 2.1X (YEAR-END 2020:
1.7X)
    * FOR 2022, WE ANTICIPATE A FURTHER PRICE INFLATION IMPACT
ON OUR
CORE ACTIVITIES OF € 20 – 25 MILLION
    * WE NOW EXPECT THE 2021 ADJUSTED EBITDA MARGIN FOR OUR CORE
ACTIVITIES TO BE IN THE 13-15% RANGE (WAS: >15%)
    * WE EXPECT TO PASS ON THESE HIGHER INPUT COSTS WITH SOME
DELAY,
AND THUS AIM TO RESTORE THE ADJUSTED EBITDA MARGIN FOR OUR CORE
ACTIVITIES TO ABOVE 15% FOR 2022

Source text for Eikon:  ID:nGNE37Nrxc 
Further company coverage:  CORB.AS 

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