Corbion N.V. : Mostly a strong Q3 2024 update; TP raised to € 32; Outperform reiterated
>Q3 2024 sales and EBITDA ahead of consensus by 5% and 4%, respectively - Corbion’s sales and EBITDA came in 5% and 4%, respectively, higher than consensus. Sales came in much better than expected in Health & Nutrition, to which all sub-segments (Nutrition, Pharma and Biomedical) contributed. In Functional Ingredients & Solutions, the strong volume growth was encouraging, attributable to the Food segment. As expected, Biochemicals (semiconductors and agrochemicals) re...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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