Aug 04, 2023
07:00 CET - Rotterdam, The Netherlands
IMCD reports EBITA of EUR 280 million in the first half of 2023
IMCD N.V. ("IMCD" or "Company"), a global leading distribution partner, formulator of speciality chemicals and ingredients, and solutions provider, today announces its first half year 2023 results.
- Gross profit of EUR 583 million (+2% on a constant currency basis) showed resilience of IMCD's business model
- Operating EBITA decrease of 6% to EUR 280 million (-3% on a constant currency basis)
- Net result decrease of 14% to EUR 153 million (-12% on a constant currency basis)
- Free cash flow increased by 105% to EUR 241 million (first half of 2022: EUR 118 million)
- Successful completion of acquisitions in the UK, Sweden, Israel, South Africa, Puerto Rico, Colombia and India, and agreements signed to acquire entities in Chile, Singapore and Malaysia
Piet van der Slikke, CEO: "After an exceptional performance in 2022 and despite current challenging macroeconomic conditions, IMCD showed its resilience in the first six months of the year by achieving a gross profit of EUR 583 million (+2% forex adjusted) and an operating EBITA of EUR 280 million (-3% forex adjusted). IMCD delivered a healthy cash flow of over EUR 240 million (+105%), and a strong cash conversion margin of 84%. We remain confident about our diversified business model and continue to execute our growth strategy with diligence. With thirteen acquisitions this year, of which seven acquisitions in Latin America and Asia, we further expanded our global market presence and are well-positioned to deliver future business growth."
To read the full press release, please click on the attachment below.
Press release_IMCD first half year 2023 results