Davy Research

Corbion

Q2 EBITDA 7% behind; FY guidance requires improved execution through H2
Foods
Corbion

DAVY VIEW

Corbion’s Q2 EBITDA result was lower than expected, primarily due to the under-recovery of higher input costs. Organic sales growth improved sequentially but remained subdued (bakery segment challenged). Corbion has maintained its FY guidance; as such, it requires improved execution in H2. Recent history underlines the company’s ability to deliver to expectation.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Corbion

    Closing Price: 2649c

  • RATING 29/04/11

  • PREVIOUS RATING 01/09/10

    Outperform

Analyst(S)

COMPANY DATA

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