IMCD (IMCD) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 8% to €3,965m and operating EBITA increased 8% to €425m; constant-currency growth was 10% and 11%, respectively.

• Q3 operating EBITA grew 18%, including 14% organic growth; organic growth was positive across all operating segments.

• Free cash flow reached €317m, up 12%; full-year organic operating EBITA growth is expected.

• Commercial and operational execution, customer and supplier engagement, and digital initiatives remain priorities.

Financial highlights

• Revenue was €3,965m, up 8% reported and 10% FX-adjusted; growth included 4% organic and 6% acquisition contribution, offset by a 2% negative FX effect.

• Gross profit rose 7% to €991m, up 9% FX-adjusted; growth comprised 4% organic and 5% acquisition contribution.

• Operating EBITA increased 8% to €425m, up 11% FX-adjusted, comprising 5% organic and 6% M&A-related growth.

• Q3 revenue rose 10% reported, with 6% organic growth; gross profit increased 14%, including 10% organic growth.

• Net result was €211m, up 17% reported and 20% FX-adjusted; EPS was €3.57 and cash EPS €4.73.

Outlook and guidance

• Full-year 2026 organic operating EBITA growth is expected, based on 9M performance and business fundamentals; Q4 had a promising start.

• Medium- to long-term organic gross profit growth guidance remains 6%-7%; scale is expected to support higher conversion margins over time.

• Year-end cash conversion ratio is expected in the high-80% to low-90% range.

• Macroeconomic and geopolitical uncertainty makes future developments and demand difficult to predict.