Corbion Q3 2016 Interim Management Statement
(Thomson Reuters ONE) -
Corbion reported sales of ? 685.2 million in the first nine months of 2016, a
decrease of 0.4%.
Organic sales growth was -0.2%, driven by volume declines partially offset by
improvements in price/mix. EBITDA excluding one-off items increased by 15.1% to
? 134.8 million.
"Our profitability increased substantially, driven by a combination of business
mix improvements, cost savings, and lower input costs. However, our top-line
growth in Q3 was clearly below our ambition level. Growth is negatively affected
by our process of improving the portfolio profitability and the adverse effects
of customer consolidation. We anticipate these effects to be of a temporary
nature, and remain confident that we will achieve our multi-year guidance",
comments Tjerk de Ruiter, CEO.
Key financial highlights first nine months of 2016
· Net sales organic growth YTD was -0.2%; volume growth was -0.8%
· EBITDA before one-off items YTD was ? 134.8 million, an organic increase of
16.2%
· EBITDA margin before one-off items was 19.7% YTD
· Our productivity improvement program Streamline contributed ? 14.8 million to
EBITDA YTD (2015 YTD: ? 11.0 million). Streamline has been completed and the
target savings have been reached
· One-off items of ? -2.1 million in Q3 in connection with the powder blending
plant consolidation in the US
· We commenced our ? 50 million share buyback program on 21 March 2016. By the
end of September the total buyback amount was ? 43.7 million
Pdf-version of press release:
http://hugin.info/160089/R/2050419/766968.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Corbion via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 21.10.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 501988
Anzahl Zeichen: 2120
contact information:
Town:
Amsterdam
Kategorie:
Business News
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