Corbion Strategy Update: Creating Sustainable Growth
(Thomson Reuters ONE) -
During its Capital Markets Day for analysts and investors in Amsterdam today,
Corbion management will present its Strategy Update for the period 2018-2021:
Creating Sustainable Growth. Corbion has built a solid foundation for the
company in the past years with its Disciplined Value Creation strategy. The new
strategy aims to deliver higher organic sales growth* of between 3 and 6 percent
annually.
Tjerk de Ruiter, CEO of Corbion, comments: "Since 2014 we have made great
strides in strengthening Corbion, building one coherent company, and creating
value in a disciplined way. We are now ready for the next phase of increased
organic top-line growth and continued value creation for our stakeholders. We
aim to be the leading innovator for sustainable ingredient solutions by offering
conscious choices, uniquely tailored to create customer value. Our ambitious
sustainability goals are aligned with the United Nations Sustainable Development
Goals to create maximum positive impact."
Growth initiatives
In Ingredient Solutions**, Corbion has prioritized the following growth
initiatives. In Bakery, we will expand in Latin America, while in the US we will
target faster growing segments such as sweet goods and the foodservice channel.
In Meat, Corbion will extend the current antimicrobial/preservation product
portfolio to a wider offering of ingredient solutions. In Biochemicals, we will
continue with the portfolio approach based on lactic acid, boosted by new
innovations such as the resorbable polymer applications in Biomedical.
In Innovation Platforms**, Corbion's portfolio contains several initiatives that
are on the brink of contributing meaningful sales levels in PLA (in joint
venture with Total) and DHA (in joint venture with Bunge). In addition, other
organic acids such as FDCA and biobased succinic acid will remain part of our
strategic innovation program.
To support these growth initiatives, Corbion will invest more in R&D. The R&D
expenses as % of sales will increase from 3% to 4%, while at the same time the
organization will be adapted to accommodate the solutions model, with increased
focus on customer needs, co-creation and sales support.
* Defined as IFRS reported sales + proportionately consolidated sales from
joint ventures in Innovation Platforms
** To better reflect the activities in each segment, Biobased Ingredients is now
Ingredient Solutions, while Biobased Innovations is now Innovation Platforms
Financial guidance 2018-2021
* Ingredient Solutions: Net sales growth of 2-4% per annum (1-3% in Food,
3-10% in Biochemicals), while maintaining EBITDA margin >19% and ROCE > 20%
per annum throughout the period. Recurring capex is expected to be on
average ? 40 million per annum.
* Innovation Platforms: To better reflect the underlying performance, in
addition to reporting IFRS figures, disclosure of proportionately
consolidated joint venture figures will be provided for net sales and
EBITDA. Net sales growth (including proportionately consolidated joint
ventures) 10-30% per annum. EBITDA (including proportionately consolidated
joint ventures) approaching break-even in 2021, while the maximum loss is
not expected to exceed ? -35 million per annum for the years 2018 and 2019.
Recurring capex (including proportionate share in JV capex) of ? 20-30
million per annum.
* Progressive regular dividend policy: Ambition to pay out annually a stable
to gradually increasing absolute dividend amount per share.
20171108 Strategy Update ENG-FINAL:
http://hugin.info/160089/R/2148284/824109.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: 09.11.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 567342
Anzahl Zeichen: 4392
contact information:
Town:
Amsterdam
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Corbion Strategy Update: Creating Sustainable Growth"
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