Corbion, the Amsterdam-listed sustainable ingredients company that champions
preservation through the application of science, today publishes its results for
the first nine months of 2023.
Key highlights first nine months 2023:

  * Sales EUR 1,091.0 million; an organic increase of 2.6%
  * Adjusted EBITDA EUR 142.8 million; an organic increase of 7.1%
  * Operating profit EUR 75.9 million; an organic growth of 0.2%
  * Organic growth core activities: Sales 4.2% & Adjusted EBITDA 12.3%
  * Q3 2023:
      * Sales EUR 353.0 million and Adjusted EBITDA EUR 46.0 million
      * Organic growth core activities: Sales -2.2% & Adjusted EBITDA 6.1%
  * Positive Free Cash Flow for the 2(nd) consecutive quarter as anticipated

Strategic Developments:

  * Restructuring program underway to accelerate significant positive free cash
    flow delivery, including a full review to drive material improvements in
    operating expenses, capital program and working capital
  * Broader auction process underway to divest the non-core emulsifier business
    in order to maximize value
  * Strategic review of Corbion's position in PLA
  * Algae Ingredients roadmap 2025-2030 following strong growth prospect
    underway
  * Continued focus on high growth, high value biomedical business
 EUR million             |YTD 2023|YTD 2022|Total growth|  Organic growth

-----------------------+--------+--------+------------+----------------
Sales | 1,091.0| 1,080.4| 1.0%| 2.6%
-----------------------+--------+--------+------------+----------------
Adjusted EBITDA | 142.8| 142.8| 0.0%| 7.1%
-----------------------+--------+--------+------------+----------------
Adjusted EBITDA margin| 13.1%| 13.2%| |
-----------------------+--------+--------+------------+----------------
Operating profit | 75.9| 91.7| -17.2%| 0.2%
-----------------------+--------+--------+------------+----------------
| | | |
-----------------------+--------+--------+------------+----------------
Core activities | | | |
-----------------------+--------+--------+------------+----------------
Sales | 952.3| 927.9| 2.6%| 4.2%
-----------------------+--------+--------+------------+----------------
Adjusted EBITDA | 121.5| 116.6| 4.2%| 12.3%
-----------------------+--------+--------+------------+----------------
Adjusted EBITDA margin| 12.8%| 12.6%| |
-----------------------+--------+--------+------------+----------------
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