Half Year 2024 IMCD NV Earnings Call Transcript
Key Points
- IMCD NV (IMCDY) recorded revenues of EUR2.385 billion and operating EBITDA of EUR270 million on a constant currency basis for the first half of 2024.
- The company achieved an 11% EBITDA growth on a constant currency basis in Q2 2024, driven by acquisitions and some organic growth.
- Gross profit growth was observed across regions: 4% in EMEA and 9% in Asia Pacific.
- IMCD NV (IMCDY) maintained a balanced portfolio with Life Science revenue at EUR1.2 billion and Industrial revenue at EUR1.1 billion.
- The company successfully completed 11 acquisitions across all three regions and various business segments in the first half of 2024.
- Operating EBITDA decreased by 2% compared to the first half of 2023, primarily due to a weak first quarter.
- The Americas region experienced lower demand and temporary pricing pressure in the food and nutrition sector.
- The conversion margin for the first half of 2024 was lower at 44.5% compared to 48% in the previous year.
- Net finance costs increased by EUR1 million, driven by higher interest on bank loans and bonds, and negative currency exchange results.
- The company faced volatility and limited visibility beyond six weeks due to customers' preference for low inventories and just-in-time orders.
Good day, and welcome to today's IMCD NV first-half year 2024 results conference call. (Operator Instructions)
And now I'd like to hand the call -- like to call over to Valerie Diele-Braun, CEO. Please go ahead.
Good morning, everyone, and welcome to the IMCD's first-half of 2024 call. As usual, I'm here with my colleague, Hans Kooijmans, CFO of IMCD, who will lead you through the financial results after my preliminary remarks. And then we are open to answer your questions.
During the first half of 2024, we recorded revenues of EUR2.385 billion and operating EBITDA of EUR270 million on a constant currency basis. This is a 2% EBITDA decrease versus first-half '23. This decrease can be mainly attributed due to a weak first quarter. Whilst we returned to gross profit and EBITDA growth in Q2.
During the second quarter of this year, we were able to deliver a ForEx adjusted gross profit growth of 11%, resulting in 11% EBITDA growth on a
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
