IMCD reports 8% EBITA growth in the first nine months of 2020
11 November 2020 - 07:00AM
IMCD reports 8% EBITA growth in the first nine months of 2020
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.
HIGHLIGHTS • 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.
- Press Release_IMCD reports 8% EBITA growth in the first nine
months of 2020
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