The company accelerated its digital transformation and successfully expanded its presence in several parts of the world in 2020.
IMCD, a leading distributor of speciality chemicals and ingredients, announced its full year 2020 results. The company witnessed revenue growth of 3% to EUR 2,774.9 million (+6% on constant currency basis) and gross profit growth of 8% to EUR 647.5 million (+11% on a constant currency basis). Operating EBITA increase of 13% to EUR 253.5 million (+16% on a constant currency basis). Also, net result before amortisation and non-recurring items increase of 14% to EUR 178.1 million (+19% on a constant currency basis)
Piet van der Slikke, CEO: "Throughout 2020 we reported strong results and I am happy to confirm that we finished the year very well: compared with 2019, our operating EBITA grew by 13% (16% on a constant currency basis) and free cash flow increased by 27% to EUR 282m. Cash earnings per share were up with 13%. Much has been said about the impact of COVID-19 during 2020 and I can only repeat my gratitude to our dedicated staff who kept IMCD open for business during these trying times. We are in our 25th year of value creation for our suppliers and customers and we owe a big thank you to them as well, for their trust and partnership during all these years. 2020 was also a year in which we accelerated our digital transformation and we successfully expanded our presence in several parts of the world. This is testimony to our continuing ambition to be the global leading distributor in specialities and ingredients. Despite the uncertain times we live in, we are very positive about IMCD’s opportunities for further growth in the current year."
Although the severity differs between the various regions in the world, the COVID-19 pandemic has dramatically affected global economic activity since early 2020. Nevertheless, IMCD was able to remain open for business during these unprecedented times. The adoption of remote working has allowed IMCD to continue providing its services to customers and suppliers.
Facilitated by digital communications and technologies to stay in contact with its business partners, IMCD has been able to continue its operations efficiently while securing an undisrupted supply chain and timely delivery of its products.
Compared with 2019, revenue increased by 3% to EUR 2,774.9 million in 2020. The revenue growth is the balance of the first-time inclusion of acquisitions (+6%) and a negative impact of foreign currency exchange differences (-3%).
The overall organic revenue development was shaped by the balance of local macroeconomic circumstances, further strengthening of the product portfolio by adding new suppliers, expanding relationships with existing suppliers and increasing customer penetration by adding new products and selling more products to existing and new customers.
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