Corbion delivers strong volume-led sales growth and significant margin improvement in Q3; full-year guidance maintained
Corbion, the Amsterdam-listed sustainable ingredients company that champions preservation through the application of science, today publishes its results for the first nine months and third quarter of 2026.
Key highlights first nine months 2026:
| Organic sales growth: +3.9% | (Q3: +7.6%) |
| - Volume/mix: +5.3% | (Q3: +7.9%) |
| -Price: -1.4% | (Q3: -0.3%) |
| Sales: € 971.6 million | (Q3: € 340.5 million) |
| Adjusted EBITDA: € 152.9 million | (Q3: € 64.1 million) |
| Adjusted EBITDA organic growth: +3.5% | (Q3: +28.2%) |
| Operating profit: € 81.4 million | |
| Continued positive volume/mix development in both segments | |
| - Very strong Q3 volume/mix development in Health & Nutrition | |
| Free Cash Flow: € 57 million | |
| Corbion discontinues PLA divestment process | |
| FY 2026 guidance maintained |
€ million | YTD 2026 | YTD 2025 | YTD growth | YTD Organic growth | Q3 2026 | Q3 2025 | Q3 growth | Q3 Organic growth |
| Sales | 971.6 | 957.2 | +1.5% | +3.9% | 340.5 | 311.6 | +9.3% | +7.6% |
| Adjusted EBITDA | 152.9 | 156.3 | -2.2% | +3.5% | 64.1 | 49.7 | +29.0% | +28.2% |
| Adj. EBITDA margin (%) | 15.7% | 16.3% | -60 bps | 18.8% | 15.9% | +290 bps | ||
| Operating profit | 81.4 | 91.4 | -10.9% | -2.0% | 39.3 | 27.9 | +40.9% | +39.1% |
Commenting on today’s results, Olivier Rigaud, CEO, stated: “I am proud to report that our team delivered strong results, reflecting the high demand for our portfolio and disciplined execution across the businesses. Organic sales growth was driven by continued positive volume/mix development in both segments. Sales strength was broad-based but especially pronounced in Health & Nutrition due to the phasing of Nutrition volumes from the first half as anticipated.
In Functional Ingredients & Solutions, demand for natural preservation solutions in the Food business remained healthy, and Biochemicals continued its strong growth trajectory from H1. In Health & Nutrition, Nutrition delivered strong growth, supported by very strong volume/mix growth. Higher fish oil prices contributed to increased omega-3 DHA prices in the quarter positively impacting the mix component in the strong volume/mix result in the segment.
Adjusted EBITDA margins improved strongly in the quarter, supported by ongoing cost-reduction initiatives, operational efficiencies, and higher omega-3 DHA prices. We also delivered strong free cash flow generation, demonstrating the quality of our earnings and the strength of our business model.
While the process to sell our interest in the TotalEnergies Corbion joint venture attracted interest from potential buyers, the proposals we received did not adequately reflect the business’s value, strategic position, and long-term potential. We have therefore concluded that continuing to develop the business is the best way to maximize shareholder value.
Based on our strong year-to-date performance and visibility into the fourth-quarter orderbook, we maintain our full-year 2026 guidance.”
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