Brief: Corbion Updates On Advance 2025 Strategy

Corbion NV

01/12/2022 06:07

Dec 1 (Reuters) - Corbion NV  CORB.AS :
    * CORBION STRATEGY UPDATE OF ‘ADVANCE 2025’
    * SIGNIFICANT PROGRESS MADE IN DELIVERING 'ADVANCE 2025'
    * CREATION OF ALGAE INGREDIENTS AS A NEW BUSINESS UNIT,
FOLLOWING
COMMERCIAL BREAKTHROUGH
    * INCREASE OF NET SALES GROWTH TARGET TO 5-8% P.A. FOR
2023-2025,
UP FROM 4-7% P.A.
    * ADJUSTED EBITDA GROWTH TARGET OF 15-20% P.A. FOR 2023-2025
    * IMPROVING FUNDING RATIO TO BELOW 2.9X IN 2023, AND
1.5-2.5X FROM
2024
    * DIVESTMENT PROCESS FOR NON-CORE EMULSIFIERS BUSINESS
INITIATED
    * WE HAVE INITIATED THE PROCESS OF DIVESTING OUR NON-CORE
EMULSIFIER BUSINESS ENABLING US TO FULLY FOCUS ON PROFITABLY
GROWING OUR CORE BUSINESS
    * TOTALENERGIES AND CORBION ARE COMMITTED TO GROWING THE PLA
BUSINESS
    * 2023-2025 GUIDANCE, UNDERLYING AMBITIONS: CAPEX: €160
MILLION
AVERAGE PER ANNUM

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