Corbion N.V. : Raising the bar – TP increased to € 43 and Outperform reiterated
>Q4 2022 and 2022 results due on 3 March 2022 - Corbion is set to report its Q4 2022 and 2022 results on 3 March and will host a conference call later that day. We expect Corbion to report results in line with the guidance that was reiterated at Corbion’s Q3 2022 trading update. We forecast organic sales growth for core operations of 22.1% in 2022 (guidance: 20-25%), behind price/mix of 22.5%. Our adjusted EBITDA margin forecast for core operations is 12.7% for 2022 (...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.
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