Corbion announces strong YTD EBITDA growth, and EBITDA margin improvement of +240 bps; full-year outlook maintained

Core Insights - Corbion reported solid results for the first nine months of 2025, with organic sales growth of +1.2% despite a decline in Q3 [2][5] - Adjusted EBITDA increased by +22.9% year-to-date, reflecting improved operational efficiency and cost-reduction initiatives [2][4] - The company maintains its full-year 2025 guidance, expecting volume/mix growth of +3-5% in Q4 [5] Financial Performance - Total sales for the first nine months of 2025 reached €957.2 million, a decrease of -1.6% compared to the same period in 2024 [2] - Adjusted EBITDA for the first nine months was €156.3 million, up +15.2% year-over-year, with an adjusted EBITDA margin increase of +240 basis points [2][4] - Operating profit for the first nine months was €91.4 million, reflecting an organic increase of +59.6% [2][4] Segment Performance - The Functional Ingredients & Solutions segment maintained sales momentum, although pricing was slightly down due to a pass-through pricing mechanism [3] - In Health & Nutrition, adjusted EBITDA showed excellent growth despite a decline in volume/mix in Q3, attributed to high comparables from Q3 2024 [4] - Positive sales growth was noted in the Pharma business, with expectations for strong volume/mix growth in Health & Nutrition in Q4 [4]