Corbion jumps on upbeat 2025 targets

Corbion NV

01/12/2022 08:32

** Shares in Corbion  CORB.AS  rise around 7%, on track for
their best day since late April, after the Dutch biochemicals
group raised 2025 sales target and set an upbeat earnings goal
    ** Corbion's 2025 strategy, updated during its CMD, now aims
to deliver 5-8% annual organic sales growth in 2023-2025,
against the earlier 4-7% target
    ** Corbion expects adj. EBITDA growth of 15-20% per year for
the same period, and improving funding ratio to below 2.9x in
2023, and 1.5-2.5x from 2024
    ** Analysts at KBC Securities say the EBITDA growth target
is above their 12% forecast
    ** The group also sees average yearly capex of 160 mln euros
($167 mln) in 2023-2025 and targets 250 mln euros in adj. EBITDA
from core activities by 2025
    ** The stock, down around 24%​ YTD, is the strongest
performer on Amsterdam's mid-cap index  .AMX 
($1 = 0.9603 euros)
 (Reporting by Dina Kartit)
 ((dina.kartit@thomsonreuters.com))