AMSTERDAM — Operating profit increased 6% at Corbion NV in the fiscal year ended Dec. 31, 2023, but sales dipped 1% as the Amsterdam-based company’s business units evolved, dividing into core activities and non-core activities.
Operating profit of €117 million ($127 million) compared with €111 million in the previous fiscal year. Sales decreased to €1.44 billion ($1.56 billion) from €1.46 billion. Organic sales growth was 1.2%. Currency had a negative impact of 2.2%.
In core activities, sales increased 0.8% to €1.26 billion from €1.25 billion. In non-core activities, sales fell 12% to €180 million from €204 million. On Jan. 26, 2024, Corbion agreed to sell its emulsifiers business, a non-core activity, to Kingswood Capital Management for about $326 million.
In Sustainable Food Solutions, sales fell 1.4% to €769 million. Organic sales growth was 0.7% as a 5.4%…
