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IMCD N.V., a global leading distribution partner, formulator of speciality chemicals and ingredients, and solutions provider, today announces its first nine months 2023 results.
• Gross profit of €856M (+€3M on a constant currency basis)
• Operating EBITA decline of 10% to €400M (-6% on a constant currency basis)
• Net result decline of 19% to €214M (-16% on a constant currency basis)
• Free cash flow increase by 46% to €364M (first nine months of 2022: €249M)
• Since the end of Q2 2023, IMCD successfully completed acquisitions in South Africa, UK, Puerto Rico, Chile, South Korea and Singapore/Vietnam
Piet van der Slikke, CEO of IMCD said: “Despite the prevailing difficult global economic conditions, and the lower demand in particular in the industrial market segment, IMCD delivered solid results. Gross profit was €856M which, on a constant currency basis, is in line with the first nine months of last year. Operating EBITA amounted to €400M (-6% forex adjusted). We generated a healthy cash flow of over €364M (+46%) together with a strong cash conversion margin of 89%. These results show, despite tough market circumstances, IMCD’s resistant business model and we are confident that we will resume our growth path under improving conditions.”