Q3 2024 IMCD NV Earnings Call Transcript
Key Points
- IMCD NV (IMCDY) reported a 13% EBITA growth on a constant currency basis in Q3 2024, driven by both acquisitions and organic growth.
- The company strengthened its position across all operating segments and regions through 12 acquisitions year-to-date.
- IMCD NV (IMCDY) achieved organic gross margin and EBITA growth in all three regions, with notable growth in the Americas and Asia.
- The company maintained a healthy M&A pipeline and continued its digital investments and sustainability programs.
- IMCD NV (IMCDY) reported a 7% increase in ForEx adjusted revenue and an 8% increase in gross profit compared to the previous year.
- The company faces ongoing market volatility with limited visibility beyond six weeks due to low inventory levels and just-in-time orders from customers.
- Free cash flow decreased by EUR65 million compared to last year, with a lower cash conversion margin of 73%.
- The working capital investment increased, primarily driven by higher business activity, leading to a slight increase in working capital days.
- The conversion margin decreased to 44.3%, which is 2.5% below the previous year.
- IMCD NV (IMCDY) remains cautious with predictions due to the volatile environment and changing geopolitical landscape.
Welcome to IMCD NV first nine months 2024 results conference call. My name is Allen and I'll be your coordinator for today's event. Please note this call is being recorded and for the duration, your lines will be on listen-only. (Operator Instructions)
I will now hand you over to your host, Valerie Diele-Braun to begin today's conference. Thank you.
Good morning, everyone and welcome to the IMCD Q3 2024 call. As usual, I'm here with my colleague, Hans Kooijmans, the CFO of IMCD, who will lead you through the financial results after my preliminary remarks. And then we are open to answer your questions.
In the first three quarters, we recorded revenues of EUR3.6 billion and operating EBITA of EUR403 million. On a constant currency basis this is a 3% EBITA increase versus previous year same period. This increase can be mainly attributed due to an improved performance in Q2 and Q3 after disappointing Q1.
During the third quarter of
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