Cibi e Bevande
Corbion management presents strategic development update on 'Advance 2025'
During its Capital Markets Update for analysts and investors in Amsterdam today, Corbion management will present a review of the 'Advance 2025' strategy development and introduce updated targets for the 2024-2025 period.
Key highlights
Olivier Rigaud, CEO of Corbion, comments:
“I am pleased to report a 2023 full year outcome in line with what we indicated in October of last year. This performance was realized in a challenging geopolitical and macro-economic environment. Although we see a sequential improvement in some of our key markets, we have embarked on a restructuring program, designed to achieve significant free cash flow delivery, and enabling leverage reduction. We have developed a simpler, more efficient and focused organization consisting of two business units and will implement appropriate measures to deliver annualized cost savings of around €55 million. The recent announcement of the disposal of our Emulsifier business not only completes a strategic realignment of our portfolio but also contributes to bolstering the balance sheet.”
Attachment
2321 Rosecrans Avenue. Suite 2200
90245 El Segundo Stati Uniti