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Corbion sees sales rise

ingredientsnetwork 2019-03-07
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Corbion has reported net sales of €897.2 million in 2018. Organic net sales growth was 3.7% for the year. EBITDA excluding one-off items in 2018 decreased by 19.8% to €131.6 million, mostly due to the acquisition of the TerraVia assets and a negative currency impact.

 

"I am encouraged to see Corbion growing at a significantly higher pace than in previous years while we are starting to deliver on long-term innovations such as bioplastics. Our top-line performance in Ingredient Solutions was slightly below our ambition level, mostly due to the slower than anticipated recovery in Bakery. Growth across all other segments was satisfactory. We were not immune to the inflationary pressures in the second half of the year and have started to take pricing actions to address this. In Innovation Platforms we significantly grew our sales to the Total Corbion PLA joint venture, which commissioned its plant on time and within budget - a significant achievement of which we are all very proud," said Tjerk de Ruiter, CEO.

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