Corbion full year 2016 results
(Thomson Reuters ONE) -
Corbion reported sales of ? 911.3 million in 2016, a decrease of 0.8%. Organic
sales growth was -1.2%. EBITDA excluding one-off items grew by 13.2% in 2016. In
Q4 2016 sales were ? 226.1 million, a decrease of 1.9%. Q4 2016 EBITDA excluding
one-off items increased by 6.3%. The company proposes to distribute a regular
dividend of ? 0.56 per share, an additional cash dividend of ? 0.44 per share,
and a new share buyback of ? 25 million.
"In 2016 we continued to make good progress in executing our strategy and we are
well on track to deliver on our 2015-2018 targets. In the past year we have made
strategic choices involving our customer and product portfolios. These choices
resulted in a significant margin improvement, but at the same time had an
adverse, albeit temporary, impact on our top-line growth in the year. For 2017,
we are confident top-line growth will return to our guidance range. A notable
highlight in the second half of the year was the announcement of the PLA joint
venture together with Total, a market leader with technical and marketing
expertise and a leading position in polymers," commented Tjerk de Ruiter, CEO.
Key financial highlights FY 2016
* Net sales organic growth was -1.2%; volume growth was -1.2%
* EBITDA excluding one-off items was ? 170.1 million, an organic increase of
13.8%
* EBITDA margin excluding one-off items was 18.7%, up from 16.4%
* "Streamline" contributed ? 20 million to EBITDA (2015: ? 15 million)
* One-off items at EBITDA level of ? -3.2 million in 2016, mostly in
connection with the closure of our Kansas powder blending plant, partly
offset by the sale of the Breddo-Likwifier activities
* Operating result was ? 126.9 million, an organic increase of 17.5%
* Free cash flow was ? 72.1 million (2015: ? 55.2 million)
* Net debt/EBITDA at year-end was 0.6x (2015: 0.4x)
* Our ? 50 million share-buyback program was finalized on 28 October 2016.
Key figures
? million FY 2016 FY 2015 Total growth Organic growth
Net sales 911.3 918.3 -0.8% -1.2%
EBITDA excluding one-off items 170.1 150.3 13.2% 13.8%
EBITDA margin excluding one-off 18.7% 16.4%
items
Operating result 126.9 108.6 16.9% 17.5%
ROCE 20.6% 19.2%
PDF- version of full press release:
http://hugin.info/160089/R/2084874/786037.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: 06.03.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 528173
Anzahl Zeichen: 3212
contact information:
Town:
Amsterdam
Kategorie:
Business News
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