IMCD reports 6% EBITA growth in the first three months of 2023
Rotterdam, The Netherlands (26 April 2023) - IMCD N.V. (“IMCD” or “Company”), a leading distributor of speciality chemicals and ingredients, today announces its first three months 2023 results.
HIGHLIGHTS
• Gross profit growth of 8% to EUR 300.0 million (+9% on a constant currency basis)
• Operating EBITA increase of 6% to EUR 148.5 million (+8% on a constant currency basis)
• Result for the year increase of 5% to EUR 82.6 million (+6% on a constant currency basis)
• Cash earnings per share increased by 5% to EUR 1.74 (first three months of 2022: EUR 1.65)
• Successful completion of the acquisitions of Orange Chemicals in the UK, Sanrise in China, ACM in Sweden and
Tradeimpex in India
• Agreement signed to acquire 100% of the shares of CPS Oil-Tech in South Africa
Piet van der Slikke, CEO: "After record growth in 2022, I am pleased to report that IMCD’s results grew again in Q1. All regions contributed to the growth, despite the continuing difficult geopolitical and macroeconomic conditions. Markets and supply chains remain unpredictable, requiring agility of our teams. In the first quarter of 2023, we realised an operating EBITA of EUR 148.5 million (+8% forex adjusted). In addition, we generated healthy cash flows of EUR 147.1 million resulting in a strong cash conversion margin of 97.4%. Together we continue to look for opportunities to further strengthen our business model through acquisitions and expansion of our product and supplier portfolio and to optimise our customer excellence."
Attached, the full press release in pdf format.
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