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Corbion’s volume/mix is ​​increasing behind the food segment



Corbion's volume/mix is ​​increasing behind the food segment

AMSTERDAM — Corbion NV’s volume/mix rose 1.7% in the first quarter, behind momentum within the food segment. Companywide, sales fell 4.3% from €359.6 million to €344.3 million ($367.9 million). The organic decline in turnover was 3.4%. Adjusted EBITDA decreased 2.5% from €48.4 million to €47.2 million ($50.4 million).

Corbion’s food segment belongs to the Functional Ingredients & Solutions division, which had a turnover of €239.7 million, a decrease of 7% from €258.4 million. The decline was due to price declines of 5.4% and declines of 0.9% in volume/mix. The non-food sector in Functional Ingredients & Solutions is facing temporary weakness in some markets, including semiconductors, according to Corbion, which announced its first quarter results on April 26.

In Health & Nutrition, sales increased 13% to €61.2 million from €54.1 million thanks to strong performance in the nutrition segment, which includes omega-3 fatty acids for the aquaculture and pet food markets. The volume/mix within Health & Nutrition increased by 14%.

In non-core activities, turnover fell by 8% from € 47.1 million to € 43.4 million. Corbion completed the divestiture of its non-core emulsifiers business on April 1, reducing the expected negative impact from non-core businesses in fiscal 2024 from €15 million to minus €10 million.

Corbion is also part of the TotalEnergies joint venture, which had sales of €31.6 billion, up 23% from €25.7 billion in the first quarter of last year.