IMCD GROUP : Model update
>Normalisation is clearly ongoing - IMCD reported relatively weak Q2 23 results amidst challenging comps and macro-economic headwinds. The company’s organic revenue growth was already slowing, but accelerated into negative territory over the second quarter (we estimate c. -11% yoy in Q2 23 for the group). M&A continued to play an important role, helping to sustain earnings on an absolute level, though this was insufficient to compensate the decline in the organic grow...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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