Full Year 2025 IMCD NV Earnings Call Transcript

Feb 18, 2026 / 08:00AM GMT

Release Date Price: €82.39 (-6.59%)

Transcript

Key Points

Positve

IMCD NV (IMCDY) reported a free cash flow increase to EUR465 million, resulting in a cash conversion margin of 91.4%.
The company completed seven acquisitions in 2025, adding about EUR320 million in revenue and 200 employees.
IMCD NV (IMCDY) proposed a dividend of EUR1.81 per share, with a payout ratio of 35%, at the top of their dividend policy range.
The Pharmaceuticals and Food & Nutrition segments showed solid performance in 2025.
The rollout of the sales assistant product recommendation tool has been successful, improving cross-sell ratios and customer solutions.

Negative

Gross profit slightly decreased to EUR1.2 billion, with a gross profit margin decline from 25.4% to 25%.
EBITA decreased by 3% on a constant currency basis to EUR498 million due to lower gross profit and inflation-driven cost growth.
Demand was soft across Beauty & Personal Care and Industrial segments, with limited order visibility and just-in-time deliveries.
Currency fluctuations had a negative impact, with a minus 4% on revenue and EBITA, and a minus 3% on gross profit.
The company faced significant negative impacts from geopolitical unrest, tariff uncertainty, and macroeconomic conditions, affecting customer demand.

Operator

Welcome to the IMCD 2025 full year results conference call, hosted by Marcus Jordan, CEO; and Hans Kooijmans, CFO. (Operator Instructions)

I would now like to give the floor to Marcus Jordan. Mr. Jordan. Please go ahead.

Marcus Jordan

IMCD NV - Chief Executive Officer, Member of the Management Board

Thank you very much, Elba. Good morning to you all, and a warm welcome. I'm Marcus Jordan, and I'm here today with our CFO, Hans Kooijmans, for the 2025 results, which we published in a press release earlier this morning.

After a positive start to the year with good first-quarter results, the following quarters of 2025 were challenging amid macroeconomic conditions, tariff uncertainty, and geopolitical unrest. This resulted in softer demand across a number of markets, limited order visibility and continued just-in-time deliveries. Looking at our business segments. We saw Pharmaceuticals and Food & Nutrition have the most solid performance in 2025, and our Beauty & Personal Care and Industrial segments being generally soft in demand across

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