Report

IMCD GROUP : 1Q21 EBITA 7% beat; expect 2021 consensus +5-10%

>1Q21 operating EBITA 7% ahead of our forecast - IMCD reported better than expected 1Q21 results. Revenue of € 810m were up 8% yoy and in line with our forecast (no consensus available). Gross profit was up 12% yoy and 2% ahead of our estimate at € 198m. This implies a gross margin of 24.4%, up 80bps yoy and 40bps above our forecast. Operating EBITA of € 91m was up 28% yoy and 7% ahead of our estimate. As a result, the conversion margin (operating EBITA / gross profit...
Underlying
IMCD N.V.

IMCD Group is a specialty chemicals group based in the Netherlands. Co. is engaged in the sale, marketing and distribution of specialty chemicals and food ingredients globally. Co.'s business groups are Detergents, Pharma, Personal Care, Coatings, Food & Nutrition, Lubricants, Synthesis, Plastics and others. Co.'s product offering includes additives, antioxidants, extracts, preservatives, acids, lubricants, oils, softeners, wax, components for oral, topical and vaccine drug formulations, fragrances, pigments, solvents, resins, flavors, herbs and spices, surface active agents, and fillers, among others. Co. maintains offices and warehouses in Europe, Asia Pacific, Africa, the USA and Brazil.

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Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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