Corbion N.V. : After the dust has settled, TP lowered to € 29, Outperform reiterated
>Disappointing Q3 2023 results, but promising upcoming strategy meeting - Corbion’s Q3 2023 trading update showed disappointing sales and EBITDA for both the consolidated operations and Corbion’s PLA joint venture. That said, management provided a reassuring update, explaining the delay in the disposal of the non-core operations. Moreover, Corbion announced a restructuring programme with the aim of accelerating free cash flow delivery, and promised a strategic review ...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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