IMCD N.V. (IMCD), a global leading distribution partner, and formulator of speciality chemicals and ingredients, announces its first three months 2024 results. The company posted gross profit of € 295 million (on a constant currency basis, equal to the first three months of 2023). Operating EBITA decline of 15% to € 127 million (-13% on a constant currency basis). Free cash flow of € 106 million (first three months of 2023: € 147 million).

IMCD successfully completed 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, said: "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 € 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."

Outlook

IMCD operates in different, often fragmented market segments in multiple geographic regions, connecting many customers and suppliers across a very diverse product range. In general, results are impacted by macroeconomic conditions and developments in specific industries.

Results can be influenced from period to period by, among other things, the ability to maintain and expand commercial relationships, the ability to introduce new products and start new customer and supplier relationships and the timing, scope and impact of acquisitions.

IMCD’s consistent strategy and resilient business model has led to successful expansion over the years and IMCD remains focused on achieving earnings growth by optimising its services and further strengthening its market positions. IMCD sees interesting opportunities to further increase its global footprint and expand its product portfolio both organically and by acquisitions.