Netherlands' IMCD nine-month profit up 20%

Overview

• Netherlands specialty chemicals distributor's nine-month revenue rose 10% on a constant currency basis

• Net result for the period increased 20% on a constant currency basis

• Company cites sustained business momentum and 14% organic EBITA growth in Q3

Outlook

• Company expects organic EBITA growth for the full yr

Result Drivers

• BUSINESS MOMENTUM - Co said sustained business momentum and 14% organic EBITA growth in Q3 drove results

• INITIATIVES - Co attributed performance to ongoing commercial, operational and digital excellence initiatives

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the specialty chemicals peer group is "buy"

• Wall Street's median 12-month price target for IMCD N.V. is €121.00, about 15.8% above its November 4 closing price of €104.50

• The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago

Reuters Recommended Reads

• Nov 3 - Switzerland's Clariant Q3 sales beat on higher prices, EBITDA misses on cost pressure

• Nov 4 - Solvay Q3 revenue falls on soda ash weakness

• Nov 3 - German chemical sector mood slips in October after two-month recovery, Ifo says

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)