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Netherlands' IMCD nine-month profit up 20%

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

9M Net Income

EUR 211 mln

9M EBITA

EUR 425 mln

9M Free Cash Flow

EUR 317 mln

9M Gross Profit

EUR 991 mln


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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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