IMCD GROUP : Results impacted by challenging market conditions
>Yoy deterioration on almost all metrics - IMCD reported operating results that were below ccs and our estimates. Q1 24 group revenues came in at € 1,060m, roughly stable yoy and -2% below ccs. M&A continued to play an important role, helping to sustain earnings on an absolute level. IMCD’s conversion margin corrected strongly yoy, at 42.9% (Q1 23 49.5%), pushing operating EBITA down to € 127m for the quarter (-15% yoy), -8% below ccs and -15% vs our estimates. The ov...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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