IMCD reports EBITA of EUR 400 million in the first nine months of 2023
Rotterdam, The Netherlands (10 November 2023) - IMCD N.V. (“IMCD” or “Company”), a global leading distribution partner, formulator of speciality chemicals and ingredients, and solutions provider, today announces its first nine months 2023 results.
HIGHLIGHTS
• Gross profit of EUR 856 million (+EUR 3 million on a constant currency basis)
• Operating EBITA decline of 10% to EUR 400 million (-6% on a constant currency basis)
• Net result decline of 19% to EUR 214 million (-16% on a constant currency basis)
• Free cash flow increase by 46% to EUR 364 million (first nine months of 2022: EUR 249 million)
• Since the end of Q2 2023, IMCD successfully completed acquisitions in South Africa, UK, Puerto Rico, Chile, South Korea and Singapore/Vietnam
Piet van der Slikke, CEO: "Despite the prevailing difficult global economic conditions, and the lower demand in particular in the industrial market segment, IMCD delivered solid results. Gross profit was EUR 856 million which, on a constant currency basis, is in line with the first nine months of last year. Operating EBITA amounted to EUR 400 million (-6% forex adjusted). We generated a healthy cash flow of over EUR 364 million (+46%) together with a strong cash conversion margin of 89%. These results show, despite tough market circumstances, IMCD's resistant business model and we are confident that we will resume our growth path under improving conditions."
Attached, the full press release in pdf format.
Attachment
