Corbion's 'healthy' top-line growth boosts shares

Corbion NV

29/04/2022 09:20

** Shares in Corbion  CORB.AS  jump around 9% after
better-than-expected Q1 results
    ** Corbion reports quarterly sales rising 20.2% to EUR 320.1
million ($337.51 million), with operating result reaching EUR
30.2 million  urn:newsml:reuters.com:*:nNDLbhpNf4
    ** The group says it keeps its guidance unchanged at this
stage of the year, citing remaining global supply chain
volatility
    ** ING and KBC praise Corbion for beating company-compiled
consensus despite the uncertain economic environment and an
EBITDA decline of 8.9%, which is nevertheless still
better-than-feared
    ** KBC says "Corbion demonstrated healthy top line growth,"
citing a unique combination of fairly defensive food ingredients
business, a market leading technology position and an attractive
ESG profile
    ** The broker expects Corbion to have sufficient pricing
power to push through price increases and restore margins
    ** Corbion shares are heading for their best day in 2 years,
with the price at about 2-month high


($1 = 0.9484 euros)

 (Reporting by Dina Kartit)
 ((dina.kartit@thomsonreuters.com))