Corbion N.V. : Weak volumes and disappointing PLA spoiled the party in Q1 2023
>Headline numbers appeared pretty solid in Q1 2023, but… - When looking at group organic sales growth, sales and adjusted EBITDA, Corbion’s Q1 2023 trading update appeared pretty solid. On most of these items, Corbion reported in-line or better-than-expected outcomes. However, a more detailed evaluation shows that organic volume/mix growth in the core and non-core operations was weak. Moreover, despite a flagged weak start to the year for Corbion’s PLA joint venture, ...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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