View Future GrowthCorbion 過去の業績過去 基準チェック /46Corbionの収益は年間平均-11.1%の割合で減少していますが、 Chemicals業界の収益は年間 減少しています。収益は年間4.4% 4.5%割合で 増加しています。 Corbionの自己資本利益率は10.1%であり、純利益率は5.9%です。主要情報-11.08%収益成長率-10.79%EPS成長率Chemicals 業界の成長12.41%収益成長率4.46%株主資本利益率10.07%ネット・マージン5.90%次回の業績アップデート31 Jul 2026最近の業績更新お知らせ • Oct 09+ 2 more updatesCorbion N.V. to Report Fiscal Year 2025 Results on Feb 26, 2026Corbion N.V. announced that they will report fiscal year 2025 results on Feb 26, 2026お知らせ • Oct 25+ 1 more updateCorbion N.V. to Report Q2, 2025 Results on Jul 31, 2025Corbion N.V. announced that they will report Q2, 2025 results on Jul 31, 2025Reported Earnings • Aug 12First half 2024 earnings released: EPS: €0.39 (vs €0.26 in 1H 2023)First half 2024 results: EPS: €0.39 (up from €0.26 in 1H 2023). Revenue: €637.1m (flat on 1H 2023). Net income: €22.7m (up 47% from 1H 2023). Profit margin: 3.6% (up from 2.4% in 1H 2023). Revenue is forecast to stay flat during the next 3 years compared to a 4.5% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.Reported Earnings • Mar 03Full year 2023 earnings released: EPS: €1.23 (vs €1.53 in FY 2022)Full year 2023 results: EPS: €1.23 (down from €1.53 in FY 2022). Revenue: €1.44b (down 1.0% from FY 2022). Net income: €72.9m (down 19% from FY 2022). Profit margin: 5.0% (down from 6.2% in FY 2022). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings.お知らせ • Nov 21+ 2 more updatesCorbion N.V. to Report Fiscal Year 2023 Results on Mar 01, 2024Corbion N.V. announced that they will report fiscal year 2023 results on Mar 01, 2024Reported Earnings • Aug 11First half 2023 earnings released: EPS: €0.48 (vs €0.88 in 1H 2022)First half 2023 results: EPS: €0.48 (down from €0.88 in 1H 2022). Revenue: €738.0m (up 7.4% from 1H 2022). Net income: €28.1m (down 46% from 1H 2022). Profit margin: 3.8% (down from 7.5% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.すべての更新を表示Recent updatesお知らせ • May 15Corbion N.V. Approves Special Dividend for the Financial Year 2025, Payable on 22 May 2026Corbion N.V. at the Annual General Shareholders Meeting held on 13 May 2026 approved dividend of €1.00 per share comprising a special dividend of €0.36 per share for the financial year 2025. Dividend will be all-cash and will in principle be subject to Dutch dividend withholding tax of 15%. The ex-dividend date is 15 May 2026, the record date is 18 May 2026, and the payment date is 22 May 2026.お知らせ • May 14+ 1 more updateCorbion N.V. Approves Regular Dividend for the Financial Year 2025, Payable on 22 May 2026Corbion N.V. at the Annual General Shareholders Meeting held on 13 May 2026 approved dividend of €1.00 per share comprising a regular dividend of €0.64 per share for the financial year 2025. Dividend will be all-cash and will in principle be subject to Dutch dividend withholding tax of 15%. The ex-dividend date is 15 May 2026, the record date is 18 May 2026, and the payment date is 22 May 2026.お知らせ • Apr 24Corbion N.V. Affirms Earnings Guidance for Fiscal Year 2026Corbion N.V. affirmed earnings guidance for Fiscal Year 2026. For the period, the company expects to deliver guidance on all forecasted metrics, including sales growth.お知らせ • Feb 27Corbion N.V., Annual General Meeting, May 13, 2026Corbion N.V., Annual General Meeting, May 13, 2026.お知らせ • Feb 26+ 1 more updateCorbion N.V. Proposes Dividend for the Year 2025Corbion N.V. proposed to distribute regular dividend of €0.64 per share for 2025.お知らせ • Oct 09+ 2 more updatesCorbion N.V. to Report Fiscal Year 2025 Results on Feb 26, 2026Corbion N.V. announced that they will report fiscal year 2025 results on Feb 26, 2026お知らせ • Apr 03Corbion N.V. announces Annual dividend, payable on May 27, 2025Corbion N.V. announced Annual dividend of EUR 0.6400 per share payable on May 27, 2025, ex-date on May 16, 2025 and record date on May 19, 2025.お知らせ • Feb 28Corbion N.V., Annual General Meeting, May 14, 2025Corbion N.V., Annual General Meeting, May 14, 2025.お知らせ • Feb 27Corbion N.V. Proposes Regular Cash DividendCorbion N.V. proposed a regular cash dividend increase of +5% to €0.64 per ordinary share to be submitted for approval to the annual General Meeting of Shareholders.Buy Or Sell Opportunity • Oct 30Now 27% undervaluedOver the last 90 days, the stock has risen 14% to €23.36. The fair value is estimated to be €31.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to decline by 5.2% in 2 years. Earnings are forecast to grow by 15% in the next 2 years.お知らせ • Oct 25+ 1 more updateCorbion N.V. to Report Q2, 2025 Results on Jul 31, 2025Corbion N.V. announced that they will report Q2, 2025 results on Jul 31, 2025Reported Earnings • Aug 12First half 2024 earnings released: EPS: €0.39 (vs €0.26 in 1H 2023)First half 2024 results: EPS: €0.39 (up from €0.26 in 1H 2023). Revenue: €637.1m (flat on 1H 2023). Net income: €22.7m (up 47% from 1H 2023). Profit margin: 3.6% (up from 2.4% in 1H 2023). Revenue is forecast to stay flat during the next 3 years compared to a 4.5% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.Buy Or Sell Opportunity • May 30Now 20% undervaluedOver the last 90 days, the stock has risen 18% to €21.04. The fair value is estimated to be €26.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 9.7%. For the next 3 years, revenue is forecast to grow by 0.3% per annum. Earnings are also forecast to grow by 17% per annum over the same time period.Declared Dividend • May 03Final dividend of €0.61 announcedShareholders will receive a dividend of €0.61. Ex-date: 17th May 2024 Payment date: 28th May 2024 Dividend yield will be 3.5%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but not covered by cash flows (224% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Buy Or Sell Opportunity • Apr 29Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 1.4% to €19.26. The fair value is estimated to be €15.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 9.7%. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings are also forecast to grow by 17% per annum over the same time period.Buy Or Sell Opportunity • Apr 19Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 8.8% to €18.76. The fair value is estimated to be €15.62, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 9.7%. For the next 3 years, revenue is forecast to grow by 1.4% per annum. Earnings are also forecast to grow by 13% per annum over the same time period.お知らせ • Apr 12Corbion Appoints Masha Vis-Mertens as Chief Human Resources Officer and Member of the Executive Committee as of 1 May 2024Corbion announced appointment of Masha Vis-Mertens as Chief Human Resources Officer and member of the Executive Committee as of 1 May 2024. Masha Vis-Mertens, a Dutch national, joins Corbion from Switzerland where she was most recently Chief Human Resources Officer of Barry Callebaut, a global Cocoa and Chocolate Manufacturer. Over her career, she has lived in various regions and countries and has been a successful leader in HR, Commercial and Supply Chain roles. In her previous positions she gained a wealth of experience in talent development, diversity and inclusion, culture, and organizational transformation that she will be bringing to Corbion. Masha brings a diverse and multi-cultural background and a fresh perspective. She worked internationally throughout her career and is fluent in Dutch, German, French and English.お知らせ • Apr 03Kingswood Capital Management, L.P. completed the acquisition of Emulsifiers business from Corbion N.V.Kingswood Capital Management, L.P. singed a binding agreement to acquire Emulsifiers business from Corbion N.V for $362 million on January 26, 2024. The purchase price paid for the business is $362 million with expected net cash proceeds of approximately $275 million, post tax and transaction costs. The sale, which is contingent upon the satisfaction of certain conditions, including regulatory approvals and transaction is expected to close in the second quarter of this year. Kirkland & Ellis LLP acted as legal advisor and Configure Partners, LLC acted as debt advisor to Kingswood Capital Management, L.P. Lazard B.V. acted as financial advisor and Stinson LLP acted as legal advisor to Corbion N.V. Kingswood Capital Management, L.P. completed the acquisition of Emulsifiers business from Corbion N.V on April 2, 2024. The emulsifiers business, moving forward, will operate under the name PATCO Products, LLC and Vice President of Emulsifiers at Corbion, John Miller, will continue to lead the Company as its Chief Executive Officer.Valuation Update With 7 Day Price Move • Mar 09Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €20.66, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 17x in the Chemicals industry in Germany. Total loss to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €19.47 per share.お知らせ • Mar 05Corbion Announces Preliminary Results of New Study from Millennial Salmon ProjectCorbion announced preliminary results of a new study from the Millennial Salmon Project, a strategic partnership among organizations along the value chain of salmon production. Conducted by Nofima and recently published in Aquaculture, the study confirms that AlgaPrime™ DHA can be added at varying levels without negatively impacting feed quality, and actually promoting a more stable process and pellet quality. Primarily funded by the Research Council of Norway and made up of leading organizations Nofima, InnovaFeed, Corbion,Cargill, MOWI, Labeyrie Fine Foods, SINTEF Ocean and Auchan, the Millennial Salmon Project aims to create the world’s most sustainable farmed salmon using novel ingredients with a low carbon footprint and a focus on the circular economy. The first round of research sought to determine optimal inclusion levels of AlgaPrime™ DHA LS — Corbion’s algae-based omega-3 DHA-rich ingredient in liquid suspension — in feed for Atlantic salmon, evaluating the ingredient’s effect on the feed production process. Variables examined included: physical pellet quality, expansion parameters and microstructure and later its digestibility. AlgaPrime™ DHA can be incorporated at two different moments in the feed production process: into the mix prior to extrusion and during pellet coating. Therefore, the maximum levels of AlgaPrime™ DHA inclusion in both moments was studied. An array of diets was produced and tested, from a control feed using fish meal and soy protein concentrate to feeds with the high inclusion levels of AlgaPrime™ DHA LS. Applying a method that enables numerous comparisons, researchers determined that inclusion of 100 g/kg AlgaPrime™ DHA LS in the mixture was commercially interesting, considering the levels of lipids mostly used in the feed mix. Based on the industry standard practices, researchers tested AlgaPrime™ DHA LS in the pellet coating process and were able to add up to 14% inclusion in a final feed with 36% lipids, which is far above the relevant industrial application levels of omega-3. In a uncommon study design that combines the technical application and nutrition science and after the feed production trials, the research group then looked at four diets containing AlgaPrime™ DHA in the mix, the coating, and a combination of the two, using AlgaPrime™ DHA LS at 10% and 20% inclusions. All four diets showed high nutrient digestibility in Atlantic salmon. For reference, with the inclusion of 8% of AlgaPrime™ DHA LS is possible to replace a 10% inclusion of fish oil in diets with the same omega-3 levels. These findings represent an important step for fish nutrition, illustrating the viability of sustainability gains by increasing the use of ingredients with high concentrations of omega-3, something a reliance on fish oil alone could not accomplish. At the same time, it is great news to the aquaculture industry, enabling the strategic management of omega-3 levels in feed to facilitate the production growth, a much-needed tool in view of increasing pressure on oceans and the supply gap of traditional marine resources. AlgaPrime™ DHA LS is made from a single-cell algae strain grown at scale using industrial fermentation to produce DHA while ensuring feasibility for feed manufacturers and salmon producers. With a higher DHA concentration compared to fish oil and other alternatives, inclusion of AlgaPrime™ DHA LS in feed can maintain or raise omega-3 levels in healthy diets, reducing the dependency for fish oil, thereby helping to preserve the environment.Declared Dividend • Mar 04Dividend of €0.61 announcedShareholders will receive a dividend of €0.61. Ex-date: 19th May 2024 Payment date: 30th May 2024 Dividend yield will be 3.4%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but not covered by cash flows (206% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Mar 03Full year 2023 earnings released: EPS: €1.23 (vs €1.53 in FY 2022)Full year 2023 results: EPS: €1.23 (down from €1.53 in FY 2022). Revenue: €1.44b (down 1.0% from FY 2022). Net income: €72.9m (down 19% from FY 2022). Profit margin: 5.0% (down from 6.2% in FY 2022). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings.New Risk • Feb 08New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.0% average weekly change).Valuation Update With 7 Day Price Move • Jan 29Investor sentiment improves as stock rises 18%After last week's 18% share price gain to €18.88, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 13x in the Chemicals industry in Germany. Total loss to shareholders of 60% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €10.13 per share.お知らせ • Jan 26Kingswood Capital Management, L.P. singed a binding agreement to acquire Emulsifiers business from Corbion N.V for $362 million.An unknown buyer agreed to acquire Emulsifiers business from Corbion N.V. (ENXTAM:CRBN) on December 1, 2022. As of August 10, 2023, the sale by Corbion of its Emulsifiers business is continuing to progress and expected to be completed by end of the year 2023. As of January 26, 2024, Kingswood Capital Management, L.P. singed a binding agreement to acquire Emulsifiers business from Corbion N.V for $362 million with expected net cash proceeds of approximately $275M, post tax and transaction costs. The sale, which is contingent upon the satisfaction of certain conditions, including regulatory approvals and transaction is expected to close in the second quarter of this year. Kirkland & Ellis LLP acted as legal advisor and Configure Partners, LLC acted as financial advisor to Kingswood Capital Management, L.P. Lazard B.V. acted as financial advisor and Stinson LLP acted as legal advisor to Corbion N.V.Valuation Update With 7 Day Price Move • Dec 21Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €19.40, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Chemicals industry in Germany. Total loss to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €13.82 per share.お知らせ • Nov 21+ 2 more updatesCorbion N.V. to Report Fiscal Year 2023 Results on Mar 01, 2024Corbion N.V. announced that they will report fiscal year 2023 results on Mar 01, 2024Reported Earnings • Aug 11First half 2023 earnings released: EPS: €0.48 (vs €0.88 in 1H 2022)First half 2023 results: EPS: €0.48 (down from €0.88 in 1H 2022). Revenue: €738.0m (up 7.4% from 1H 2022). Net income: €28.1m (down 46% from 1H 2022). Profit margin: 3.8% (down from 7.5% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Jun 29Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €20.96, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Chemicals industry in Germany. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €19.59 per share.お知らせ • May 18Corbion N.V. Approves Dividend for the Year 2022, Payable on 30 May 2023Corbion N.V. announced that General Shareholders Meeting held on 17 May 2023 approved dividend of €0.56 per ordinary share for the financial year 2022 was also approved. Dividends will be all-cash and will in principle be subject to Dutch dividend withholding tax of 15%. The ex-dividend date is 19 May 2023, the record date is 22 May 2023, and the payment day is 30 May 2023.Upcoming Dividend • May 12Upcoming dividend of €0.56 per share at 1.9% yieldEligible shareholders must have bought the stock before 19 May 2023. Payment date: 30 May 2023. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.6%).Recent Insider Transactions • May 08Insider recently bought €142k worth of stockOn the 3rd of May, O.Y.A.R Rigaud bought around 5k shares on-market at roughly €28.37 per share. This transaction amounted to 5.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €259k more in shares than they have sold in the last 12 months.Reported Earnings • Mar 04Full year 2022 earnings released: EPS: €1.53 (vs €1.33 in FY 2021)Full year 2022 results: EPS: €1.53 (up from €1.33 in FY 2021). Revenue: €1.46b (up 36% from FY 2021). Net income: €90.0m (up 15% from FY 2021). Profit margin: 6.2% (down from 7.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.お知らせ • Dec 13+ 3 more updatesCorbion N.V. Appoints Jennifer Lindsey as Chief Marketing and Digital OfficerCorbion N.V. announces the appointment of Jennifer Lindsey as Chief Marketing and Digital Officer and member of the Executive Committee. With the creation of this new Executive Committee role, Corbion will focus on enhancing its brand relevance and accelerating its digital transformation. The role will partner with the three business units, connecting the market to the end customer using market research and insights, digital experience, innovation partnership and communications. Mrs. Lindsey (US national) joined Corbion in 2016 and previously held the role of VP Global Marketing for Corbion’s Sustainable Food Solutions unit, based in Lenexa, Kansas. Prior to that she held roles of increasing scope and responsibility in Product Development & Innovation, Product Management, Regional and Global Marketing, Strategy and Product Marketing, working for Danisco, DuPont Nutrition & Health and more recently Parnell Living Science. Mrs. Lindsey holds a Bachelor of Science in Food Science and Human Nutrition from University of Missouri-Columbia. She is married and has three children. With this appointment, the Executive Committee will consist of: Olivier Rigaud (CEO), Eddy van Rhede van der Kloot (CFO), Marco Bootz (President Lactic Acid & Specialties), Aurélie Dalbiez (Chief Human Resources Officer), Jennifer Lindsey (Chief Marketing and Digital Officer), Jacqueline van Lemmen (Chief Operations Officer), Andy Muller (President Sustainable Food Solutions), Ruud Peerbooms (President Algae Ingredients) and Marcel Wubbolts (Chief Science & Sustainability Officer).Reported Earnings • Aug 11First half 2022 earnings releasedFirst half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €67.5m from profit in 1H 2021). Profit margin: (down from 13% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 7.9%, compared to a 3.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Jul 01Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 8.8%. The fair value is estimated to be €36.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 34%. For the next 3 years, revenue is forecast to grow by 9.3% per annum. Earnings is also forecast to grow by 9.9% per annum over the same time period.お知らせ • May 19+ 1 more updateCorbion N.V. Announces Executive ChangesCorbion N.V. General Shareholders Meeting held on 18 May 2021 approved the appointment of William Lin as member of the Supervisory Board. At the annual General Meeting of Shareholders, Mr. Rudy Markham stepped down from the Supervisory Board after 11 years of distinguished service to the company as Chair and Vice-Chair of the Supervisory Board, Chair of the Remuneration Committee, and member of the Appointment and Governance Committee.Upcoming Dividend • May 13Upcoming dividend of €0.56 per shareEligible shareholders must have bought the stock before 20 May 2022. Payment date: 31 May 2022. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (5.1%).Reported Earnings • Feb 26Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: €1.33 (up from €1.24 in FY 2020). Revenue: €1.07b (up 8.5% from FY 2020). Net income: €78.3m (up 7.1% from FY 2020). Profit margin: 7.3% (down from 7.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 6.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 25Corbion N.V. Proposes Cash Dividend for 2021The Corbion N.V. proposes to distribute a regular cash dividend of €0.56 per share.Reported Earnings • Aug 13First half 2021 earnings released: EPS €1.15 (vs €0.42 in 1H 2020)The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €515.6m (up 4.8% from 1H 2020). Net income: €67.5m (up 173% from 1H 2020). Profit margin: 13% (up from 5.0% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 19% per year.お知らせ • Aug 12Corbion Provides Earnings Guidance for 2021Corbion provided earnings guidance for 2021. For the period, the company raising its organic sales growth outlook to 12%-15% for core activities.Executive Departure • May 26Member of the Supervisory Board has left the companyOn the 19th of May, Jack de Kreij's tenure as Member of the Supervisory Board ended after 10.1 years in the role. We don't have any record of a personal shareholding under Jack's name. A total of 2 executives have left over the last 12 months.Upcoming Dividend • May 14Upcoming dividend of €0.56 per shareEligible shareholders must have bought the stock before 21 May 2021. Payment date: 01 June 2021. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.6%).Is New 90 Day High Low • Mar 08New 90-day low: €43.90The company is down 1.0% from its price of €44.25 on 08 December 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €19.49 per share.Reported Earnings • Mar 07Full year 2020 earnings released: EPS €1.24 (vs €0.44 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €986.5m (up 1.0% from FY 2019). Net income: €73.1m (up 183% from FY 2019). Profit margin: 7.4% (up from 2.6% in FY 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings.Analyst Estimate Surprise Post Earnings • Mar 07Revenue misses expectationsRevenue missed analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 1.9%, compared to a 5.7% growth forecast for the Chemicals industry in Germany.お知らせ • Feb 23+ 2 more updatesCorbion N.V., Annual General Meeting, May 19, 2021Corbion N.V., Annual General Meeting, May 19, 2021.Is New 90 Day High Low • Jan 16New 90-day high: €47.65The company is up 10.0% from its price of €43.30 on 16 October 2020. The German market is also up 10.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Chemicals industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €113 per share.お知らせ • Jan 13FroDo Baking Company acquired Frozen Dough Business from Corbion N.V. (ENXTAM:CRBN).FroDo Baking Company acquired Frozen Dough Business from Corbion N.V. (ENXTAM:CRBN) on January 11, 2021. The new business owner is expected to hire most of the employees of the frozen dough business and will take over the operations with immediate effect. FroDo Baking Company completed the acquisition of Frozen Dough Business from Corbion N.V. (ENXTAM:CRBN) on January 11, 2021.Is New 90 Day High Low • Dec 24New 90-day high: €46.00The company is up 20% from its price of €38.45 on 25 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Chemicals industry, which is also up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €114 per share.Is New 90 Day High Low • Dec 02New 90-day high: €44.10The company is up 16% from its price of €37.90 on 03 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €98.09 per share.お知らせ • Oct 01Corbion N.V. announced that it expects to receive €145 million in fundingCorbion N.V. (ENXTAM:CRBN) announced that it has signed an agreement with investors and will receive €145 million in debt round of funding on September 30, 2020. The company will receive funding through United States private placement of notes to five institutional investors. The notes will be issued in two tranches of €72.5 million each, with maturities of 7 and 10 years, which will bear interest at a fixed rate of 2.12% per annum and 2.43% per annum respectively.Is New 90 Day High Low • Sep 30New 90-day high: €39.40The company is up 23% from its price of €32.05 on 02 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.73 per share.お知らせ • Sep 26Corbion and Total to Build First world-scale PLA Plant in EuropeCorbion and Total announced their intention to build a new PLA bioplastics plant in Europe through their Total Corbion PLA joint venture. The plant is expected to have a capacity of 100,000 tons per annum, being the first world-scale PLA production facility in Europe. The new plant is planned to be located in Grandpuits, France and to be operational in 2024. The plant construction is expected to require capital expenditures of approximately €200 million. Corbion and Total will participate equally in the funding of the project; third party debt may also be part of the financing. This event also triggers a final settlement related to the Total Corbion PLA joint venture lactide plant. Corbion will continue to be the supplier of lactic acid to the Total Corbion PLA joint venture. Corbion earlier this year announced it will build a new lactic acid plant with the latest low emission technology in Thailand, expected to be operational in 2023. This PLA investment accelerates further expansion plans for lactic acid, with a European location as one of the likely options.収支内訳Corbion の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史DB:CSUA 収益、費用、利益 ( )EUR Millions日付収益収益G+A経費研究開発費31 Dec 251,267751744330 Sep 251,282701784430 Jun 251,297661824531 Mar 251,292561824531 Dec 241,288461834630 Sep 241,274481804630 Jun 241,260501774531 Mar 241,262471764531 Dec 231,264431764630 Sep 231,338481784730 Jun 231,412541804831 Mar 231,435721764831 Dec 221,458901714730 Sep 221,350761674630 Jun 221,243631624631 Mar 221,157701584431 Dec 211,071781554330 Sep 211,040971494130 Jun 211,0101161444031 Mar 21998951423831 Dec 20987731403730 Sep 20992491433530 Jun 20997241473231 Mar 20987251473331 Dec 19976261463530 Sep 19953371413830 Jun 19930481354231 Mar 19914511324131 Dec 18897541293930 Sep 18883611283730 Jun 18869691263531 Mar 18880771263431 Dec 17892851263330 Sep 17905871283230 Jun 17918891303231 Mar 17914951283131 Dec 169111021263130 Sep 169171031243330 Jun 169221041223431 Mar 16920911223331 Dec 15918781213330 Sep 15885451193230 Jun 158511311831質の高い収益: CSUAは 高品質の収益 を持っています。利益率の向上: CSUAの現在の純利益率 (5.9%)は、昨年(3.6%)よりも高くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: CSUAの収益は過去 5 年間で年間11.1%減少しました。成長の加速: CSUAの過去 1 年間の収益成長率 ( 63% ) は、5 年間の平均 ( 年間-11.1%を上回っています。収益対業界: CSUAの過去 1 年間の収益成長率 ( 63% ) はChemicals業界-13.5%を上回りました。株主資本利益率高いROE: CSUAの 自己資本利益率 ( 10.1% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YMaterials 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 02:35終値2026/05/22 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Corbion N.V. 6 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。13 アナリスト機関Setu ShardaBarclaysSebastian BrayBerenbergFintan RyanBerenberg10 その他のアナリストを表示
お知らせ • Oct 09+ 2 more updatesCorbion N.V. to Report Fiscal Year 2025 Results on Feb 26, 2026Corbion N.V. announced that they will report fiscal year 2025 results on Feb 26, 2026
お知らせ • Oct 25+ 1 more updateCorbion N.V. to Report Q2, 2025 Results on Jul 31, 2025Corbion N.V. announced that they will report Q2, 2025 results on Jul 31, 2025
Reported Earnings • Aug 12First half 2024 earnings released: EPS: €0.39 (vs €0.26 in 1H 2023)First half 2024 results: EPS: €0.39 (up from €0.26 in 1H 2023). Revenue: €637.1m (flat on 1H 2023). Net income: €22.7m (up 47% from 1H 2023). Profit margin: 3.6% (up from 2.4% in 1H 2023). Revenue is forecast to stay flat during the next 3 years compared to a 4.5% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Mar 03Full year 2023 earnings released: EPS: €1.23 (vs €1.53 in FY 2022)Full year 2023 results: EPS: €1.23 (down from €1.53 in FY 2022). Revenue: €1.44b (down 1.0% from FY 2022). Net income: €72.9m (down 19% from FY 2022). Profit margin: 5.0% (down from 6.2% in FY 2022). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings.
お知らせ • Nov 21+ 2 more updatesCorbion N.V. to Report Fiscal Year 2023 Results on Mar 01, 2024Corbion N.V. announced that they will report fiscal year 2023 results on Mar 01, 2024
Reported Earnings • Aug 11First half 2023 earnings released: EPS: €0.48 (vs €0.88 in 1H 2022)First half 2023 results: EPS: €0.48 (down from €0.88 in 1H 2022). Revenue: €738.0m (up 7.4% from 1H 2022). Net income: €28.1m (down 46% from 1H 2022). Profit margin: 3.8% (down from 7.5% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
お知らせ • May 15Corbion N.V. Approves Special Dividend for the Financial Year 2025, Payable on 22 May 2026Corbion N.V. at the Annual General Shareholders Meeting held on 13 May 2026 approved dividend of €1.00 per share comprising a special dividend of €0.36 per share for the financial year 2025. Dividend will be all-cash and will in principle be subject to Dutch dividend withholding tax of 15%. The ex-dividend date is 15 May 2026, the record date is 18 May 2026, and the payment date is 22 May 2026.
お知らせ • May 14+ 1 more updateCorbion N.V. Approves Regular Dividend for the Financial Year 2025, Payable on 22 May 2026Corbion N.V. at the Annual General Shareholders Meeting held on 13 May 2026 approved dividend of €1.00 per share comprising a regular dividend of €0.64 per share for the financial year 2025. Dividend will be all-cash and will in principle be subject to Dutch dividend withholding tax of 15%. The ex-dividend date is 15 May 2026, the record date is 18 May 2026, and the payment date is 22 May 2026.
お知らせ • Apr 24Corbion N.V. Affirms Earnings Guidance for Fiscal Year 2026Corbion N.V. affirmed earnings guidance for Fiscal Year 2026. For the period, the company expects to deliver guidance on all forecasted metrics, including sales growth.
お知らせ • Feb 27Corbion N.V., Annual General Meeting, May 13, 2026Corbion N.V., Annual General Meeting, May 13, 2026.
お知らせ • Feb 26+ 1 more updateCorbion N.V. Proposes Dividend for the Year 2025Corbion N.V. proposed to distribute regular dividend of €0.64 per share for 2025.
お知らせ • Oct 09+ 2 more updatesCorbion N.V. to Report Fiscal Year 2025 Results on Feb 26, 2026Corbion N.V. announced that they will report fiscal year 2025 results on Feb 26, 2026
お知らせ • Apr 03Corbion N.V. announces Annual dividend, payable on May 27, 2025Corbion N.V. announced Annual dividend of EUR 0.6400 per share payable on May 27, 2025, ex-date on May 16, 2025 and record date on May 19, 2025.
お知らせ • Feb 28Corbion N.V., Annual General Meeting, May 14, 2025Corbion N.V., Annual General Meeting, May 14, 2025.
お知らせ • Feb 27Corbion N.V. Proposes Regular Cash DividendCorbion N.V. proposed a regular cash dividend increase of +5% to €0.64 per ordinary share to be submitted for approval to the annual General Meeting of Shareholders.
Buy Or Sell Opportunity • Oct 30Now 27% undervaluedOver the last 90 days, the stock has risen 14% to €23.36. The fair value is estimated to be €31.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to decline by 5.2% in 2 years. Earnings are forecast to grow by 15% in the next 2 years.
お知らせ • Oct 25+ 1 more updateCorbion N.V. to Report Q2, 2025 Results on Jul 31, 2025Corbion N.V. announced that they will report Q2, 2025 results on Jul 31, 2025
Reported Earnings • Aug 12First half 2024 earnings released: EPS: €0.39 (vs €0.26 in 1H 2023)First half 2024 results: EPS: €0.39 (up from €0.26 in 1H 2023). Revenue: €637.1m (flat on 1H 2023). Net income: €22.7m (up 47% from 1H 2023). Profit margin: 3.6% (up from 2.4% in 1H 2023). Revenue is forecast to stay flat during the next 3 years compared to a 4.5% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.
Buy Or Sell Opportunity • May 30Now 20% undervaluedOver the last 90 days, the stock has risen 18% to €21.04. The fair value is estimated to be €26.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 9.7%. For the next 3 years, revenue is forecast to grow by 0.3% per annum. Earnings are also forecast to grow by 17% per annum over the same time period.
Declared Dividend • May 03Final dividend of €0.61 announcedShareholders will receive a dividend of €0.61. Ex-date: 17th May 2024 Payment date: 28th May 2024 Dividend yield will be 3.5%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but not covered by cash flows (224% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Buy Or Sell Opportunity • Apr 29Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 1.4% to €19.26. The fair value is estimated to be €15.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 9.7%. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings are also forecast to grow by 17% per annum over the same time period.
Buy Or Sell Opportunity • Apr 19Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 8.8% to €18.76. The fair value is estimated to be €15.62, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 9.7%. For the next 3 years, revenue is forecast to grow by 1.4% per annum. Earnings are also forecast to grow by 13% per annum over the same time period.
お知らせ • Apr 12Corbion Appoints Masha Vis-Mertens as Chief Human Resources Officer and Member of the Executive Committee as of 1 May 2024Corbion announced appointment of Masha Vis-Mertens as Chief Human Resources Officer and member of the Executive Committee as of 1 May 2024. Masha Vis-Mertens, a Dutch national, joins Corbion from Switzerland where she was most recently Chief Human Resources Officer of Barry Callebaut, a global Cocoa and Chocolate Manufacturer. Over her career, she has lived in various regions and countries and has been a successful leader in HR, Commercial and Supply Chain roles. In her previous positions she gained a wealth of experience in talent development, diversity and inclusion, culture, and organizational transformation that she will be bringing to Corbion. Masha brings a diverse and multi-cultural background and a fresh perspective. She worked internationally throughout her career and is fluent in Dutch, German, French and English.
お知らせ • Apr 03Kingswood Capital Management, L.P. completed the acquisition of Emulsifiers business from Corbion N.V.Kingswood Capital Management, L.P. singed a binding agreement to acquire Emulsifiers business from Corbion N.V for $362 million on January 26, 2024. The purchase price paid for the business is $362 million with expected net cash proceeds of approximately $275 million, post tax and transaction costs. The sale, which is contingent upon the satisfaction of certain conditions, including regulatory approvals and transaction is expected to close in the second quarter of this year. Kirkland & Ellis LLP acted as legal advisor and Configure Partners, LLC acted as debt advisor to Kingswood Capital Management, L.P. Lazard B.V. acted as financial advisor and Stinson LLP acted as legal advisor to Corbion N.V. Kingswood Capital Management, L.P. completed the acquisition of Emulsifiers business from Corbion N.V on April 2, 2024. The emulsifiers business, moving forward, will operate under the name PATCO Products, LLC and Vice President of Emulsifiers at Corbion, John Miller, will continue to lead the Company as its Chief Executive Officer.
Valuation Update With 7 Day Price Move • Mar 09Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €20.66, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 17x in the Chemicals industry in Germany. Total loss to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €19.47 per share.
お知らせ • Mar 05Corbion Announces Preliminary Results of New Study from Millennial Salmon ProjectCorbion announced preliminary results of a new study from the Millennial Salmon Project, a strategic partnership among organizations along the value chain of salmon production. Conducted by Nofima and recently published in Aquaculture, the study confirms that AlgaPrime™ DHA can be added at varying levels without negatively impacting feed quality, and actually promoting a more stable process and pellet quality. Primarily funded by the Research Council of Norway and made up of leading organizations Nofima, InnovaFeed, Corbion,Cargill, MOWI, Labeyrie Fine Foods, SINTEF Ocean and Auchan, the Millennial Salmon Project aims to create the world’s most sustainable farmed salmon using novel ingredients with a low carbon footprint and a focus on the circular economy. The first round of research sought to determine optimal inclusion levels of AlgaPrime™ DHA LS — Corbion’s algae-based omega-3 DHA-rich ingredient in liquid suspension — in feed for Atlantic salmon, evaluating the ingredient’s effect on the feed production process. Variables examined included: physical pellet quality, expansion parameters and microstructure and later its digestibility. AlgaPrime™ DHA can be incorporated at two different moments in the feed production process: into the mix prior to extrusion and during pellet coating. Therefore, the maximum levels of AlgaPrime™ DHA inclusion in both moments was studied. An array of diets was produced and tested, from a control feed using fish meal and soy protein concentrate to feeds with the high inclusion levels of AlgaPrime™ DHA LS. Applying a method that enables numerous comparisons, researchers determined that inclusion of 100 g/kg AlgaPrime™ DHA LS in the mixture was commercially interesting, considering the levels of lipids mostly used in the feed mix. Based on the industry standard practices, researchers tested AlgaPrime™ DHA LS in the pellet coating process and were able to add up to 14% inclusion in a final feed with 36% lipids, which is far above the relevant industrial application levels of omega-3. In a uncommon study design that combines the technical application and nutrition science and after the feed production trials, the research group then looked at four diets containing AlgaPrime™ DHA in the mix, the coating, and a combination of the two, using AlgaPrime™ DHA LS at 10% and 20% inclusions. All four diets showed high nutrient digestibility in Atlantic salmon. For reference, with the inclusion of 8% of AlgaPrime™ DHA LS is possible to replace a 10% inclusion of fish oil in diets with the same omega-3 levels. These findings represent an important step for fish nutrition, illustrating the viability of sustainability gains by increasing the use of ingredients with high concentrations of omega-3, something a reliance on fish oil alone could not accomplish. At the same time, it is great news to the aquaculture industry, enabling the strategic management of omega-3 levels in feed to facilitate the production growth, a much-needed tool in view of increasing pressure on oceans and the supply gap of traditional marine resources. AlgaPrime™ DHA LS is made from a single-cell algae strain grown at scale using industrial fermentation to produce DHA while ensuring feasibility for feed manufacturers and salmon producers. With a higher DHA concentration compared to fish oil and other alternatives, inclusion of AlgaPrime™ DHA LS in feed can maintain or raise omega-3 levels in healthy diets, reducing the dependency for fish oil, thereby helping to preserve the environment.
Declared Dividend • Mar 04Dividend of €0.61 announcedShareholders will receive a dividend of €0.61. Ex-date: 19th May 2024 Payment date: 30th May 2024 Dividend yield will be 3.4%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but not covered by cash flows (206% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Mar 03Full year 2023 earnings released: EPS: €1.23 (vs €1.53 in FY 2022)Full year 2023 results: EPS: €1.23 (down from €1.53 in FY 2022). Revenue: €1.44b (down 1.0% from FY 2022). Net income: €72.9m (down 19% from FY 2022). Profit margin: 5.0% (down from 6.2% in FY 2022). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings.
New Risk • Feb 08New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.0% average weekly change).
Valuation Update With 7 Day Price Move • Jan 29Investor sentiment improves as stock rises 18%After last week's 18% share price gain to €18.88, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 13x in the Chemicals industry in Germany. Total loss to shareholders of 60% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €10.13 per share.
お知らせ • Jan 26Kingswood Capital Management, L.P. singed a binding agreement to acquire Emulsifiers business from Corbion N.V for $362 million.An unknown buyer agreed to acquire Emulsifiers business from Corbion N.V. (ENXTAM:CRBN) on December 1, 2022. As of August 10, 2023, the sale by Corbion of its Emulsifiers business is continuing to progress and expected to be completed by end of the year 2023. As of January 26, 2024, Kingswood Capital Management, L.P. singed a binding agreement to acquire Emulsifiers business from Corbion N.V for $362 million with expected net cash proceeds of approximately $275M, post tax and transaction costs. The sale, which is contingent upon the satisfaction of certain conditions, including regulatory approvals and transaction is expected to close in the second quarter of this year. Kirkland & Ellis LLP acted as legal advisor and Configure Partners, LLC acted as financial advisor to Kingswood Capital Management, L.P. Lazard B.V. acted as financial advisor and Stinson LLP acted as legal advisor to Corbion N.V.
Valuation Update With 7 Day Price Move • Dec 21Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €19.40, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Chemicals industry in Germany. Total loss to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €13.82 per share.
お知らせ • Nov 21+ 2 more updatesCorbion N.V. to Report Fiscal Year 2023 Results on Mar 01, 2024Corbion N.V. announced that they will report fiscal year 2023 results on Mar 01, 2024
Reported Earnings • Aug 11First half 2023 earnings released: EPS: €0.48 (vs €0.88 in 1H 2022)First half 2023 results: EPS: €0.48 (down from €0.88 in 1H 2022). Revenue: €738.0m (up 7.4% from 1H 2022). Net income: €28.1m (down 46% from 1H 2022). Profit margin: 3.8% (down from 7.5% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Jun 29Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €20.96, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Chemicals industry in Germany. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €19.59 per share.
お知らせ • May 18Corbion N.V. Approves Dividend for the Year 2022, Payable on 30 May 2023Corbion N.V. announced that General Shareholders Meeting held on 17 May 2023 approved dividend of €0.56 per ordinary share for the financial year 2022 was also approved. Dividends will be all-cash and will in principle be subject to Dutch dividend withholding tax of 15%. The ex-dividend date is 19 May 2023, the record date is 22 May 2023, and the payment day is 30 May 2023.
Upcoming Dividend • May 12Upcoming dividend of €0.56 per share at 1.9% yieldEligible shareholders must have bought the stock before 19 May 2023. Payment date: 30 May 2023. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.6%).
Recent Insider Transactions • May 08Insider recently bought €142k worth of stockOn the 3rd of May, O.Y.A.R Rigaud bought around 5k shares on-market at roughly €28.37 per share. This transaction amounted to 5.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €259k more in shares than they have sold in the last 12 months.
Reported Earnings • Mar 04Full year 2022 earnings released: EPS: €1.53 (vs €1.33 in FY 2021)Full year 2022 results: EPS: €1.53 (up from €1.33 in FY 2021). Revenue: €1.46b (up 36% from FY 2021). Net income: €90.0m (up 15% from FY 2021). Profit margin: 6.2% (down from 7.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
お知らせ • Dec 13+ 3 more updatesCorbion N.V. Appoints Jennifer Lindsey as Chief Marketing and Digital OfficerCorbion N.V. announces the appointment of Jennifer Lindsey as Chief Marketing and Digital Officer and member of the Executive Committee. With the creation of this new Executive Committee role, Corbion will focus on enhancing its brand relevance and accelerating its digital transformation. The role will partner with the three business units, connecting the market to the end customer using market research and insights, digital experience, innovation partnership and communications. Mrs. Lindsey (US national) joined Corbion in 2016 and previously held the role of VP Global Marketing for Corbion’s Sustainable Food Solutions unit, based in Lenexa, Kansas. Prior to that she held roles of increasing scope and responsibility in Product Development & Innovation, Product Management, Regional and Global Marketing, Strategy and Product Marketing, working for Danisco, DuPont Nutrition & Health and more recently Parnell Living Science. Mrs. Lindsey holds a Bachelor of Science in Food Science and Human Nutrition from University of Missouri-Columbia. She is married and has three children. With this appointment, the Executive Committee will consist of: Olivier Rigaud (CEO), Eddy van Rhede van der Kloot (CFO), Marco Bootz (President Lactic Acid & Specialties), Aurélie Dalbiez (Chief Human Resources Officer), Jennifer Lindsey (Chief Marketing and Digital Officer), Jacqueline van Lemmen (Chief Operations Officer), Andy Muller (President Sustainable Food Solutions), Ruud Peerbooms (President Algae Ingredients) and Marcel Wubbolts (Chief Science & Sustainability Officer).
Reported Earnings • Aug 11First half 2022 earnings releasedFirst half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €67.5m from profit in 1H 2021). Profit margin: (down from 13% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 7.9%, compared to a 3.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Jul 01Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 8.8%. The fair value is estimated to be €36.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 34%. For the next 3 years, revenue is forecast to grow by 9.3% per annum. Earnings is also forecast to grow by 9.9% per annum over the same time period.
お知らせ • May 19+ 1 more updateCorbion N.V. Announces Executive ChangesCorbion N.V. General Shareholders Meeting held on 18 May 2021 approved the appointment of William Lin as member of the Supervisory Board. At the annual General Meeting of Shareholders, Mr. Rudy Markham stepped down from the Supervisory Board after 11 years of distinguished service to the company as Chair and Vice-Chair of the Supervisory Board, Chair of the Remuneration Committee, and member of the Appointment and Governance Committee.
Upcoming Dividend • May 13Upcoming dividend of €0.56 per shareEligible shareholders must have bought the stock before 20 May 2022. Payment date: 31 May 2022. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (5.1%).
Reported Earnings • Feb 26Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: €1.33 (up from €1.24 in FY 2020). Revenue: €1.07b (up 8.5% from FY 2020). Net income: €78.3m (up 7.1% from FY 2020). Profit margin: 7.3% (down from 7.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 6.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 25Corbion N.V. Proposes Cash Dividend for 2021The Corbion N.V. proposes to distribute a regular cash dividend of €0.56 per share.
Reported Earnings • Aug 13First half 2021 earnings released: EPS €1.15 (vs €0.42 in 1H 2020)The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €515.6m (up 4.8% from 1H 2020). Net income: €67.5m (up 173% from 1H 2020). Profit margin: 13% (up from 5.0% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 19% per year.
お知らせ • Aug 12Corbion Provides Earnings Guidance for 2021Corbion provided earnings guidance for 2021. For the period, the company raising its organic sales growth outlook to 12%-15% for core activities.
Executive Departure • May 26Member of the Supervisory Board has left the companyOn the 19th of May, Jack de Kreij's tenure as Member of the Supervisory Board ended after 10.1 years in the role. We don't have any record of a personal shareholding under Jack's name. A total of 2 executives have left over the last 12 months.
Upcoming Dividend • May 14Upcoming dividend of €0.56 per shareEligible shareholders must have bought the stock before 21 May 2021. Payment date: 01 June 2021. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.6%).
Is New 90 Day High Low • Mar 08New 90-day low: €43.90The company is down 1.0% from its price of €44.25 on 08 December 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €19.49 per share.
Reported Earnings • Mar 07Full year 2020 earnings released: EPS €1.24 (vs €0.44 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €986.5m (up 1.0% from FY 2019). Net income: €73.1m (up 183% from FY 2019). Profit margin: 7.4% (up from 2.6% in FY 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings.
Analyst Estimate Surprise Post Earnings • Mar 07Revenue misses expectationsRevenue missed analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 1.9%, compared to a 5.7% growth forecast for the Chemicals industry in Germany.
お知らせ • Feb 23+ 2 more updatesCorbion N.V., Annual General Meeting, May 19, 2021Corbion N.V., Annual General Meeting, May 19, 2021.
Is New 90 Day High Low • Jan 16New 90-day high: €47.65The company is up 10.0% from its price of €43.30 on 16 October 2020. The German market is also up 10.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Chemicals industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €113 per share.
お知らせ • Jan 13FroDo Baking Company acquired Frozen Dough Business from Corbion N.V. (ENXTAM:CRBN).FroDo Baking Company acquired Frozen Dough Business from Corbion N.V. (ENXTAM:CRBN) on January 11, 2021. The new business owner is expected to hire most of the employees of the frozen dough business and will take over the operations with immediate effect. FroDo Baking Company completed the acquisition of Frozen Dough Business from Corbion N.V. (ENXTAM:CRBN) on January 11, 2021.
Is New 90 Day High Low • Dec 24New 90-day high: €46.00The company is up 20% from its price of €38.45 on 25 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Chemicals industry, which is also up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €114 per share.
Is New 90 Day High Low • Dec 02New 90-day high: €44.10The company is up 16% from its price of €37.90 on 03 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €98.09 per share.
お知らせ • Oct 01Corbion N.V. announced that it expects to receive €145 million in fundingCorbion N.V. (ENXTAM:CRBN) announced that it has signed an agreement with investors and will receive €145 million in debt round of funding on September 30, 2020. The company will receive funding through United States private placement of notes to five institutional investors. The notes will be issued in two tranches of €72.5 million each, with maturities of 7 and 10 years, which will bear interest at a fixed rate of 2.12% per annum and 2.43% per annum respectively.
Is New 90 Day High Low • Sep 30New 90-day high: €39.40The company is up 23% from its price of €32.05 on 02 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.73 per share.
お知らせ • Sep 26Corbion and Total to Build First world-scale PLA Plant in EuropeCorbion and Total announced their intention to build a new PLA bioplastics plant in Europe through their Total Corbion PLA joint venture. The plant is expected to have a capacity of 100,000 tons per annum, being the first world-scale PLA production facility in Europe. The new plant is planned to be located in Grandpuits, France and to be operational in 2024. The plant construction is expected to require capital expenditures of approximately €200 million. Corbion and Total will participate equally in the funding of the project; third party debt may also be part of the financing. This event also triggers a final settlement related to the Total Corbion PLA joint venture lactide plant. Corbion will continue to be the supplier of lactic acid to the Total Corbion PLA joint venture. Corbion earlier this year announced it will build a new lactic acid plant with the latest low emission technology in Thailand, expected to be operational in 2023. This PLA investment accelerates further expansion plans for lactic acid, with a European location as one of the likely options.