IMCD (IMCD) Investor presentation summary

Business model and scale

• 2025 revenue €4,779m and operating EBITA €498m; served 71k+ customers with 52k+ products across >60 countries, supported by 5,246 professionals and 86 technical labs.

• Specialty distribution combines formulation expertise, technical support, customer-specific value pricing and exclusive supplier relationships with asset-light operations.

• Eight business groups serve markets including advanced materials, beauty and personal care, food and nutrition, industrial solutions and pharmaceuticals.

Growth and competitive strengths

• Gross profit grew at a 13% CAGR in 2014–2025, with growth balanced between organic expansion and acquisitions.

• Operating EBITA grew at a 13% CAGR in 2014–2025, supported by scale, commercial synergies and operational efficiency.

• Exclusivity clauses apply to >90% of supplier contracts; all top 10 supplier relationships exceed 10 years, and most contracts run ~3–5 years.

• A global IT platform supports commercial, marketing, operational, performance and partner connectivity tools.

HY 2026 financial performance

• Revenue was €2,638m, up 7% reported and 11% on an FX-adjusted basis; gross profit was €658m, up 4% reported and 7% FX-adjusted.

• Operating EBITA was €285m, up 4% reported and 8% FX-adjusted; margin was 10.8% versus 11.1% in HY 2025. Net result rose 10% to €142m.

• Free cash flow increased 28% to €222m; cash conversion was 76.2%, versus 61.4% in HY 2025.

• Organic EBITA growth was 7% in EMEA and 2% in Asia-Pacific, while the Americas declined 12%.