Corbion seen down on FY Adj. EBITDA margin outlook cut

Corbion NV

10/08/2021 07:59

** Shares in Corbion  CORB.AS  are seen 1%-2% lower after
the Dutch food ingredients group cut its FY adj. EBITDA margin
outlook to 13-15% from above 15% previously
    ** Solid Q2 top line, KBC says, but margins under pressure
    ** "We are facing broad-based and rapid increases in our
input costs. Prices for freight and raw materials have increased
substantially", CEO Olivier Rigaud says
    ** Despite pricing actions, the group expects a margin
recovery to become visible only from 2022
    ** Corbion has reported H1 adj. EBITDA down by 8% to EUR
77.1 mln  urn:newsml:reuters.com:*:nASN001J8B


($1 = 0.8517 euros)

 (Reporting by Kate Entringer)
 ((kate.entringer@thomsonreuters.com))