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Currency causes Corbion sales decline
2 May 2018Corbion has reported sales of € 213.0 million in the first quarter of 2018, a decrease of 7.4% due to currency effects. Organic sales growth was 2.5%, due to a strong increase in Biochemicals and Innovation Platforms.
Corbion has reported sales of € 213.0 million in the first quarter of 2018, a decrease of 7.4% due to currency effects. Organic sales growth was 2.5%, due to a strong increase in Biochemicals and Innovation Platforms. EBITDA excluding one-off items decreased by 19.2% to € 38.6 million due to currency effects and higher input costs.
"The start of the year saw a continued positive momentum with organic sales growth recovery in Ingredient Solutions, that has returned to the 2-4% target range,” said Tjerk de Ruiter, CEO. “As anticipated, a weaker US dollar and negative raw material price effects have put pressure on our Ingredient Solutions EBITDA, nevertheless we were able to maintain a healthy margin in this business segment. We are experiencing improving market dynamics in bioplastic PLA, which is encouraging for the future development of our PLA joint venture plant, which is scheduled to open later this year."Companies mentioned
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