IMCD GROUP : 2Q21 EBITA 13% beat; expect 2021 consensus +10%
>2Q21 operating EBITA 13% ahead of consensus - IMCD reported much better than expected 2Q21 results. Revenue of € 864m were up 30% yoy and 14% ahead of consensus (Bloomberg). Gross profit was up 36% yoy and 14% ahead of consensus at € 213m. This implies a gross margin of 24.7%, up 110bps yoy and 10bps above consensus. Operating EBITA of € 102m was up 68% yoy and 13% ahead of consensus (9% ahead of our forecast). As a result, the conversion margin (operating EBITA / gr...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.
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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