Corbion Feedback 3Q results conference call

Below are the key highlights from the 3Q results conference call. 3Q top line was a bit weaker than expected whilst 3Q adjusted EBITDA increased by 11% organically and was in line with our and consensus expectations. Corbion still expects organic EBITDA growth of over 25% which translates into c. € 207m when taking into account the expected negative $ effect (KBCS & CSS € 206m). We continue to appreciate Corbion for its market leadership in lactic acid and growth opportunities within the existing portfolio (food adjacencies, omega-3) whilst looking ahead to the upcoming CMD (20 Nov). We reiter...

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 10/29/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 29/10/2025

Corbion Feedback 3Q results conference call

Below are the key highlights from the 3Q results conference call. 3Q top line was a bit weaker than expected whilst 3Q adjusted EBITDA increased by 11% organically and was in line with our and consensus expectations. Corbion still expects organic EBITDA growth of over 25% which translates into c. € 207m when taking into account the expected negative $ effect (KBCS & CSS € 206m). We continue to appreciate Corbion for its market leadership in lactic acid and growth opportunities within the existing portfolio (food adjacencies, omega-3) whilst looking ahead to the upcoming CMD (20 Nov). We reiter...

Quest for Growth €1/Share capital return and strategic reset

Quest for Growth announced a strategic reorientation to refocus on its core mission of investing in unquoted growth companies and successful quoted small caps. The Board proposes a €18.7 million capital reduction, distributing €1 net per share to shareholders without cancelling shares, funded by existing cash and the sale of large-cap positions. This move is said to aim to sharpen the fund's profile as a pure growth specialist. The strategy maintains focus on three pillars: Digital, Health, and Cleantech. The capital reduction is subject to FSMA approval and an extraordinary general meeting on...

Aedifica Solid 3Q25 results, all eyes on the BCA

Aedifica reports EPRA earnings 1.3% ahead of our expectations and increases its EPRA EPS guidance by 1.8% to EUR 5.10 per share (excl. transaction costs merger). The key driver behind the outperformance is the rental income. YTD Aedifica has divested EUR 125.0m assets (mainly exit from Sweden). It has replenished the pipeline with EUR 163.0m investments: EUR 105m developments + EUR 58m acquisitions. The pipeline is committed at 6.5% YoC. Q3 had the biggest fair value uplift to date (0.35% and 0.82% YTD) but it remains minor. Aedifica expects BCA approval in January based on the proposition to ...