IMCD reports 8% EBITA growth in the first nine months of 2020Source: OMX
ROTTERDAM, The Netherlands (11 November 2020) – IMCD N.V. (“IMCD” or “Company”), a leading distributor of speciality chemicals and ingredients, today announces its first nine months 2020 results.
• Gross profit growth of 6% to EUR 485.7 million (+9% on a constant currency basis)
• Operating EBITA increase of 8% to EUR 189.9 million (+11% on a constant currency basis)
• Net result before amortisation and non-recurring items increase of 9% to EUR 130.8 million (+11% on a constant currency basis)
• Cash earnings per share increased by 8% to EUR 2.46 (first nine months of 2019: EUR 2.26)
• 4 November, acquisition of 70% of the outstanding shares of Signet Excipients Private Limited, one of the leading distributors of excipients in India
Piet van der Slikke, CEO: "IMCD reports strong results in the first nine months with an operating EBITA growth of 8% (11% fx adjusted). Cash flow (+EUR 29 million) was strong with a cash conversion margin of 87.5%. During Q3, our gross profit increased by 5% (fx adjusted 10%) and our operating EBITA by 11% (fx adjusted 17%). All regions contributed to this outcome. We are very pleased with these results considering the challenging market conditions that we are still facing due to the continuing COVID-19 pandemic. In addition to strong operational performance in the third quarter, we also achieved successes in the further execution of our strategy, with acquisitions in Brazil, Finland, and most notably India, where we reached an agreement to acquire 70% of the shares of Signet Excipients, thus increasing our presence in the high-growth APAC region and delivering on our ambition to strengthen our global business in the distribution of pharmaceutical excipients."
Attached, please find the full press release.