Jakarta Hotel Amsterdam
OLIVIER RIGAUD 13-May-2026
AGM 2026
Our BRIGHT 2030 strategy
BRIGHT 2030
Building upon our foundational,
core, food-ingredients business
BRIGHT 2030 targets (period 2026-2028)
Sharper focus, stronger growth
Become a high-growth specialty food-ingredients company focusing on natural preservation and nutrition
Focus on capital discipline
Started process to sell Corbion's interest in the TotalEnergies Corbion joint venture
Focus on further investing in our profitable growth segments while accelerating development in strategic opportunities
Natural preservation
Nutrition
Biomaterials
Defocus our non-food lactic acid portfolio
Strategic ownership review of the PLA portfolio
Organic Sales
growth
Adjusted EBITDA margin improvement (in 2028)
Free Cash Flow
(2026-2028)
+3-6% ~18% € 270m(cumulative)
AGM 2026
Strong FY 2025 deliveryKey 2025 performance metrics
Volume/mix
+3.4%
Free Cash Flow
€ 90.8 m
Organic Adj EBITDA growth
+26.7%
EPS
€ 1.29
Adjusted EBITDA € 204.3 million
Health & Nutrition:
Strong full-year results, with high-single-
digit percent volume/mix growth
Functional Ingredients & Solutions: Positive volume/mix drove sales growth Adjusted EBITDA margins increased
+230 bps vs 2024
AGM 2026
Sales and Adjusted EBITDA developmentSales - FY Adjusted EBITDA - FY
€ million
1,320
1,310
1,300
1,290
1,280
1,270
1,260
1,250
20
10
1,288.1
+2.2% -1.6%
1,316.3
17.4
4.5
44.4
1,267.4
€ million
240
220
200
180
160
140
40
20
175.0
+26.7% +16.7%
4.5
221.8
46.8
10.8
13.0
204.3
0
Reported Functional
Health &
Organic
Acq./Div
Forex
Sales 2025
0
Adjusted
Organic Organic
Acq./Div.
Forex
Adjusted
Sales* 2024
Ingredients & Solutions
Nutrition
Sales 2025
EBITDA* 2024
Adjusted EBITDA
EBITDA 2025
AGM 2026
Functional Ingredients & SolutionsBusiness environment
Strong momentum in Food business, with positive volume/mix driven by growing demand for natural and label-friendly preservation solutions
Biochemicals proved resilient in a challenging environment
Geo-political and macroeconomic
pressures remained
Softness in some food markets e.g.,
North America
Further input cost (sugar) reduction
Growth initiatives
Strategic focus areas such a natural mold inhibitors and listeria control
New business development
Extend natural mold inhibitor to savory applications
High-protein fortification
Next generation of food ferments
Efficiency initiatives
New circular lactic acid plant in Thailand ramping up as planned
Adjusted EBITDA margin expanded +230 bps driven by input cost relief and disciplined cost-saving initiatives
Continued insourcing efforts
AGM 2026
Functional Ingredients & SolutionsFY Organic Sales growth of +1.1%
Volume/mix +1.9%
Organic growth in Food supported by momentum in natural preservation and shelf live extension
Lactic Acid sales to PLA growth driven by sales growth of the joint venture
Biochemicals slightly decreased, mainly due to
soft-demand in some key end-markets.
FY 2024
Sales
Adj. EBITDA
Margin: 8.8%
79
€997.9m 769
150
+1.1%
org. growth
FY 2025
Sales
Adj. EBITDA
margin: 11.1%
82
€970.4m
742
147
Pricing -0.8%, mainly the result of the pass-
through pricing mechanism for LA to PLA.
Lactic acid to TE/Corbion JV Biochemicals Food11,1
11.1
FY Adjusted EBITDA margin: 11.1%
FY Adjusted EBITDA margin increased
+230 bps on input cost relaxation and cost saving initiatives
Q4 Adjusted EBITDA margin decreased sequentially, mainly driven by inventory movement due to reduced inventory levels (normal seasonality, offset by positive impact of lower sugar prices)
8.8
8,8
2024 2025
Adjusted EBITDA margin Functional Ingredients & Solutions
FY EBITDA margins increased +230 bps
AGM 2026
Health & NutritionBusiness environment
Nutrition omega-3 DHA delivered strong growth momentum in 2025, expanding further beyond aquaculture into petfood and human nutrition
Fish oil pricing trajectory recovering as of H2 and declining (sugar) input cost tailwind
Biomaterials accelerating demand in drug delivery, orthopedics, and aesthetics, demonstrating powerful traction in
high-value end-markets
Growth initiatives
Omega-3 DHA: accelerating penetration in human nutrition and broadening aquaculture customer base
Biomaterials as bio-stimulatory treatment agent in the aesthetics market and long-acting injectable pipeline conversion through MedinCell JV
Efficiency initiatives
Margins for the segment increased +260 bps to 32.5%, demonstrating solid cost position and value of long-term customer contracts
Investment decision made to debottleneck current facility on additional omega-3 DHA oil capacity, increasing volumes at strong cost position
7 13-May-2026
AGM 2026
Health & NutritionFY Organic Sales growth of +6.0%
Volume/Mix +8.9% : driven by double-digit-percent growth in Biomaterials, and high-single-digit-percent growth in Nutrition and Pharma
Biomaterials sales grew due to increased traction in drug delivery, orthopedics, and aesthetics
Continued sales growth in Pharma driven by higher volumes, with positive pricing
FY 2024
Sales
Adj. EBITDA
Margin: 29.9%
157
55
€ 290.2m
78
+6.0%
org. growth
FY 2025
Sales
Adj. EBITDA
margin: 32.5%
154
63
€ 297.0 m
80
Organic sales growth in Nutrition driven by
volume growth, partly offset by reduced pricing
FY Adjusted EBITDA margin 32.5%
Biomaterials Pharma Nutrition32,5
32.5
FY Adjusted EBITDA margin increased +260 bps vs last year mainly due to the result of growth in higher margin businesses, as well as input cost relaxation
Despite temporarily lower prices in the Nutrition business in Q4, the EBITDA margin was stable
29.9
29,9
2024 2025
Adjusted EBITDA margin Health & Nutrition
AGM 2026
TotalEnergies Corbion joint ventureFY organic sales growth at +4.8%
€ million* | FY 2025 | FY 2024 |
Sales** | 134.1 | 133.6 |
Organic Growth | +4.8% | +13.2% |
EBITDA | 10.1 | 11.6 |
EBITDA margin | 7.5% | 8.7% |
dynamics, with significantly lower pricing
Process to sell Corbion's interest in the TotalEnergies Corbion joint venture continues as plannedFY EBITDA margin: 7.5%
FY margin contraction driven by reduced salesprices, partly offset by lower input-cost
Sequentially reduced margin level in Q4 mainly due to inventory movements related to a planned maintenance shutdown in the quarter
AGM 2026
Q1 2026 Key resultsSales of € 293.7 million
Organic sales growth of -4.1%
Volume/mix -2.6% & Pricing -1.5%
Adjusted EBITDA € 37.8 million, Adjusted EBITDA margin 12.9%
Functional Ingredients & Solutions: resilient underlying volumes in natural preservation, reduced margins mainly due to the mix effect from high growth in Biochemicals and Lactic Acid to PLA, as well as timing of the realized benefits of lower sugar prices.
Health & Nutrition: decline in growth due to 2026 phasing, stable margins at
~30%, subsequent quarters compensating with fish-oil prices providing a
tailwind.
Organic sales growth
-4.1%
Adj EBITDA margin
12.9%
Free Cash Flow
-€ 15.7 m
AGM 2026
Good progress on Sustainability in 2025
% of nrevtesnaulees
contributing to SDG 2,. 3,
12a,n1d3/oarnd1214
Absolute CO2
reduction scope 1I &I2I versus 2021
Products
Rceonveerwedabblye eLliefectCryicciltey Assessment
Absolute CO2
reduction scope 3 versus
2021
Verified
responsibly sourced cane sugar
Total
Recordable Injury Rate*
2030 | n/a | 42% | 100% | 25% | >99% | <1.25 |
2025 | 79% | 17% | 100% | 15% | 92% | 3.17 |
2024 | 74% | 25% | 99% | 7% | 99% | 3.58 |
AGM 2026
Recent scores show Corbion outperforms sector averagesClimate Water
Sector and global average
Sector average
A A-
CDP scale = A to F | EcoVadis medal thresholds = Platinum - Bronze
Gold
Network
AGM 2026
Full Year 2026 OutlookOrganic sales growth
+3-6%Adjusted EBITDA margin
~17%
Free Cash Flow
~€ 85-90 million
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Corbion NV published this content on May 15, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 15, 2026 at 14:09 UTC.
