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Corbion reports 21% profit growth in 2023

Corbion reported sales worth EUR 1,443.8 million in 2023, an organic increase of 1.2%. According to the year ending December 31, 2023, the company’s operating profit was 117.2 million last year, meaning an organic increase of 20.8%. Its adjusted EBITDA was EUR 191.8 million (10.3% organic increase).

In Q4, Corbion’s sales reached EUR 352.8 million and an adjusted EBITDA of EUR 49.0 million.

The company recently announced the sale of its Emulsifiers business, which is expected to be finalized in Q2 2024.

Olivier Rigaud, CEO, commented on the results: “I am pleased to report a 2023 full-year outcome in line with what we indicated earlier. We have reported organic sales growth and double-digit organic growth in Adjusted EBITDA and Operating Profit, whilst facing a challenging geopolitical and macro-economic environment.”

For 2024, Corbion anticipates organic volume/mix growth for its core activities to be in the range of 2-6%, driven by ongoing growth in Health & Nutrition as well as the continued upward momentum in Food (part of the Functional Ingredients & Solutions business unit). The company anticipates low to mid-single-digit negative pricing in Functional Ingredients & Solutions. “For the full year 2024, we are expecting organic Adjusted EBITDA growth for the core activities to be above 15%,” Corbion says.


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