Corbion N.V. : The biodegradable valuation dent may take some time to decompose
>Main disappointment in 2022 was PLA (bio-plastic) joint venture - Corbion reported better-than-expected top-line growth in all of its divisions (core and non-core) in 2022. Group adjusted EBITDA came in about 2% lower than consensus though, with a shortfall in the core operations slightly larger than that, partially offset by another strong quarter for the to-be-disposed of non-core operations. The main disappointment in the 2022 results was the performance of the PL...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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