CSNVF - Corbion N.V. (CSNVF) Q4 2024 Earnings Call Transcript
2025-02-27 17:44:09 ET
Corbion N.V. (CSNVF)
Q4 2024 Earnings Conference Call
February 27, 2025 5:00 AM ET
Company Participants
Alex Sokolowski – Head of Investor Relations
Olivier Rigaud – Chief Executive Officer
Peter Kazius – Chief Financial Office
Conference Call Participants
Robert Jan Vos – ABN AMRO ODDO BHF
Wim Hoste – KBC Securities
Sebastian Bray – Berenberg
Fernand de Boer – DeGroofPetercam
Presentation
Operator
Good morning and welcome to the Corbion Full Year and Fourth Quarter 2024 Conference Call and Webcast. This morning we published our full year results and the press release and presentation, can be found on the website at www.corbion.com, Investor Relations, Financial Publications.
Before we begin, please note that today's discussion will include forward-looking statements based on current expectations and assumptions. These statements will involve some risks and uncertainties that may cause actual results to differ materially from those expressed. Factors beyond our control, including market conditions, economic changes and regulatory actions, can impact outcomes. Corbion does not undertake any obligation to update statements made in this call or contained in today's press release and presentation. For more information on assumptions and estimates, please refer to our annual reports. This is Alex Sokolowski, Head of IR; and with me on the call are Olivier Rigaud, Chief Executive Officer; and Peter Kazius, Chief Financial Officer.
I would like to now hand over the call to Olivier.
Olivier Rigaud
Good morning everyone and thank you for joining Corbion's full year 2024 earning call. I'm pleased to share that in 2024 Corbion successfully met its upgraded targets for sales and adjusted EBITDA while significantly surpassing our free cash flow target. We achieved organic sales growth and double-digit increases in both adjusted EBITDA and adjusted operating profit. Our strong volume mix performance, our focus on operational efficiencies, the successful implementation of our restructuring program and our CapEx discipline resulted in this significant increase in free cash flow.
Taking a closer look at our 2024 highlight, we achieved positive organic sales growth of 2.2% driven by a volume mix increase of 5.2% and a pricing decline of 3%. Our organic adjusted EBITDA grew by an impressive 23.3% and we generated a free cash flow of €98.3 million from continued operations. In our Health and Nutrition segment, we saw strong growth in both sales and adjusted EBITDA driven primarily by our Nutrition business. Our Functional Ingredients & Solutions segment also experienced positive volume mix growth, particularly from our food ingredients and the lactic acid sales to the joint venture businesses. Looking ahead to 2025, we remain really confident in our strategic targets and expect to continue delivering strong performance more on that later when we present our 2025 outlook.
Now let's move on to the opportunities for differentiation in key markets. We've made significant strides in differentiating ourselves in key markets. Our sales into the mature bakery and meat markets have grown, thanks to our innovative and differentiated solutions as food ferments and clean label preservatives. By targeting these growing market subsegments, we've been able to capture new opportunities and grow with trends in food markets. Additionally, our value proposition in the strongly growing health and nutrition market has been confirmed with strong sales and earnings growth. This success underscores our commitment to delivering value to our customers and stakeholders....
Corbion N.V. (CSNVF) Q4 2024 Earnings Call Transcript