IMCD GROUP : Closing the books on a great year. We remain Neutral
>What a year - 2022 has been IMCD’s best year so far, mainly due to the supply chain disruptions which have been a remarkably strong tailwind for the entire (specialty) chemicals distribution industry. Fourth quarter revenues were € 1,090m, up 21% yoy and roughly in line with Bloomberg consensus. FX continued to be a tailwind for the company, though less than over previous quarters given the weakening of the Euro in 4Q22. Gross profit came in at € 264m (+22.5% yoy) ge...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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