Notes to the consolidated financial statements

1. Accounting information

Corbion is the global market leader in lactic acid and lactic acid derivatives and a leading supplier of food preservation solutions, functional blends, and algae ingredients.

2. Accounting principles

The consolidated financial statements of Corbion nv have been prepared in accordance with the International Financial Reporting Standards (IFRS) adopted by the European Union.

3. Consolidated income statement adjustments

The adjusted consolidated income statement for financial years 2023 and 2022 (non-IFRS financial measures) can be presented as follows.

4. Segment information

In line with the management responsibilities and internal management reporting for its strategic decision-making process Corbion distinguishes between the segments Sustainable Food Solutions, Lactic Acid & Specialties, Algae Ingredients, and

5. Net sales disaggregation

Fulfillment of the performance obligations related to goods sold is measured using the commercial shipment terms as an indicator for the transfer of control.

6. Income and expenses

Reference is made to Note 10. for further details on the reversal of impairment.

7. Financial income and charges

8. Taxes

The average statutory tax rate is the average of the statutory tax rates in the countries where Corbion operates, weighted on the basis of the result before taxes in each of these countries.

9. Earnings per ordinary share

Earnings per ordinary share are calculated by dividing the profit available for holders of ordinary shares by the weighted average number of outstanding ordinary shares in Corbion nv.