Corbion - News on Emulsifiers & Algae Ingredients needed
• We expect Corbion to publish weak Q3 results. Given market conditions we expect the guidance to become challenging. • More importantly, the market is desperately waiting for an announcement on the disposal of its emulsifiers and the growth story of Algae• Given the tough market conditions we lower our estimates. We also lower the estimated proceeds for emulsifiers resulting in a TP of EUR 28. • Despite the lower TP, we still believe in the growth potential of Corbion's biobased story and therefore reiterate our Buy rating.Corbion is an internationally operating company engaged in the development, production, sale and distribution of bakery supplies and food ingredients. Co. is engaged in the Bakery Supplies and Lactic Acid business. Co.'s operations are divided into two segments: Bakery operations and Lactic acid operations. Co.'s Bakery operations comprise the development, production and sale of bakery ingredients and products. Co.'s Lactic acid operations involve the production of lactic acid and lactic acid derivatives which are used in food, pharmaceutical and technical products. Co. operates mostly in Europe and North America. Co.'s brands are Waldkorn, Kate's cakes, Purac, Carel, MeisterMarken.
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.