BIOBASED FOOD INGREDIENTS STRATEGY GERARD HOETMER

Transcription

1 BIOBASED FOOD INGREDIENTS STRATEGY GERARD HOETMER

2 Biobased Food Ingredients Complementary products, technologies, markets Emusifiers / Lactylates / Ultrafresh / Moldblock / Mixes Fortification/Functional Blends Preservatives / Ferments / Anti Microbial / Listeria control / Taste masking & Enhancing / Fortification 2

3 Biobased Food Ingredients division today A leading biobased food ingredients player offering high-value added ingredients to food companies Delivering products to many applications, using high customer touch and value based selling approaches Leading ingredients positions in two market segments, Bakery and Meat Sales of 565 million, EBITDA of 108 million (margin: 18.4%) (2012) 3

4 Historic performance Sales CAGR of 5.3%. EBITDA margin expanded from 15% to 18% Sales decrease in 2012 due to LCiU competition and negative FX impact 4

5 Biobased Food Ingredients strategy Corbion will extend its leadership position with biobased ingredients as a close partner for food companies, helping them solve their food integrity issues, by Focusing on selected markets, delivering value adding products and applications expertise Continuously lowering cost levels provided by core Corbion process facilities Delivering innovative products using our core technology platforms and acquired or licensed adjacent technologies or IP Our biobased solutions give our customers improvements in the areas of Shelf-life Freshness Supply chain costs Our talented team works with passion and in partnership, ensuring performance 5

6 6 Food integrity consists of four themes within ingredients

7 7 Growing demand from consumers and brand owners for higher value added food ingredients

8 Food Integrity market is 22 billion in size Global specialty food ingredients market of 37 billion Addressable Food Integrity market for Corbion is today 5 billion 8

9 Our food integrity strategy Functionality offered Benefits for our Customers Mold & bacterial growth control Flavor masking & enhancing Color protection Shelf Life extension Logistics improvements Lower Waste Mouth Feel conditioning 9

10 Biobased Food Ingredients core strengths Enabling factors One organization built on two strong pillars Strong financial profile Disciplined investment plan to exploit growth prospects Strong innovation pipeline Unique global supply chain Competitive advantages in the market place Leading edge fermentation & enzyme technologies (many IP protected) Deep end market understanding and strong customer relationships Leading market positions in Bakery & Meat segments Unique global supply chain 10

11 Key Innovation programs support growth Ferments: Preservation with label-friendly ingredients Ultra Fresh Sweet: Extending freshness of sweet cakes significantly Ultra Fresh Premium Advantage: Extending freshness of bread rolls significantly Anti-Molding Technology Calcium Propionate: Anti-mold ingredient 11

12 Organic growth enhanced with bolt on acquisitions Strategic criteria acquisitions Immediate adjacency to product portfolio for product/technology buys Selective geographic expansion - Bakery: Access to markets with similar characteristics to US. Examples include countries in LatAm and Asia - Meat: Access to high growth markets in Asia Centered around core technologies 12

13 Key takeaways Develop into a strong and integral supplier of food integrity Stronghold in the US, but developing in other geographies - Meat: Protect and extend core in US, organic growth outside US, acquisitions of adjacent technologies - Bakery: Organic growth in US, selectively expand through bolt-on acquisitions in high-growth markets with US-like characteristics Organic sales growth CAGR targeted for period of 3-5% (ex price inflation) and continued high EBITDA margins 13