IMCD reports EBITA of EUR 127 million in the first three months of 2024
Source: GlobeNewswireRotterdam, The Netherlands (26 April 2024) - IMCD N.V. (“IMCD” or “Company”), a global leading distribution partner, and formulator of speciality chemicals and ingredients, today announces its first three months 2024 results.
HIGHLIGHTS
- Gross profit of EUR 295 million (on a constant currency basis, equal to the first three months of 2023)
- Operating EBITA decline of 15% to EUR 127 million (-13% on a constant currency basis)
- Free cash flow of EUR 106 million (first three months of 2023: EUR 147 million)
- Cash earnings per share decline of 19% to EUR 1.41 (first three months of 2023: EUR 1.74)
- Successful completion of six acquisitions: Valuetree and CJ Shah in India, Joli Foods in Colombia, RBD in China, Euro Chemo-Pharma/Biofresh in Malaysia and Gova in the Benelux
Valerie Diele-Braun, CEO: "In a volatile first quarter of the year, we faced challenging conditions in some of our market segments, resulting in a lower operating EBITA of EUR 127 million versus a very strong Q1 2023. Whilst our acquisition pipeline and projects with principals and customers remain healthy in all regions, current market dynamics continue to make future customer demand difficult to predict. Our strong commercial teams, digital and logistics infrastructure, combined with further driving operational excellence and cost control, will deliver future growth and efficiencies."
Attached, the full press release in PDF format and the main visual.
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