Corbion shares fall after softer-than-expected Q1 results

Corbion NV

22/04/2026 08:28

** Belgian biotechnology company Corbion CORB.AS falls 6%, set for worst day in over a year, after reporting a steeper-than-expected decline in Q1

** Corbion reported Q1 adjusted EBITDA at 37.8 million euros ($44.41 million), falling short compared to a consensus cited by KBC Securities at EUR 42.1 million

** KBC Securities attributes the weak performance to a high comparable base and phasing effects, as well as soft North American market conditions suppressing volume and price development

** The brokerage notes that Q1 revenue fell 10.9% to EUR 293.7 million, with volume down 2.6% and pricing down 1.5%, while the Health & Nutrition segment was particularly impacted by phasing and lower fish oil prices

** KBC Securities maintains its "Buy" recommendation and EUR 26.00 target price, with analyst describing valuation as "undemanding" and reiterating that the FY guidance of around 100 basis points of adjusted EBITDA margin improvement remains intact

** Including today's losses, the stock is down 3.3% year-to-date

($1 = 0.8511 euros)

 (Reporting by Clement Martinot)

 ((Clement.Martinot@thomsonreuters.com;))