Corbion: Guidance hike, earnings beat lifts shares

Corbion NV

30/04/2021 09:20

** Shares in Corbion  CORB.AS  edge up 0.5%, paring earlier
gains of as much as 6%, after the Dutch biochemical ingredients
maker reported Q1 core earnings beat and raised FY sales
guidance  urn:newsml:reuters.com:*:nASN0014Y0
    ** The group posted a 14% organic growth in Q1 adjusted
EBITDA at EUR 43.9 mln ($53.15 mln) -- a 5% consensus beat, KBC
Securities says
    ** "Corbion's Q1 trading update is solid across the board
despite the appearance of a miss in lactic acid and non-core
activities," ING adds
    ** The adjusted EBITDA margin of the core activities is
still guided at above 15%, KBC says
    ** Organic growth in the core activities is sufficiently
robust that the company has upgraded its FY organic sales growth
guidance from 4%-7% to 7%-10%, both brokerages say
    ** Including Firday's rise, the stock has gained 5.44 % YTD​

($1 = 0.8260 euros)

 ((juliette.portala@thomsonreuters.com))