Imcd N.v. · EURONEXT:IMCD
Imcd — Q4 2025 Earnings Presentation
25 slides from Imcd's earnings presentation, Feb 18, 2026
Slide 1: Analyst presentation 2025 full-year results
Winning together as a team Analyst presentation 2025 full-year results 18 February 2026
Slide 2: Presenting team
Presenting team Marcus Jordan Hans Kooijmans CEO CFO 2
Slide 3: Highlights 2025, Financials FY2025, Outlook, Q&A, Annex
1 Highlights 2025 2 Financials FY2025 3 Outlook 4 Q&A 5 Annex 3
Slide 4: Highlights 2025: Financial results
Highlights 2025: Financial results Cash earnings per Gross profit Operating EBITA Net Result Free cash flow share EUR 1,194 million EUR 498 million EUR 217 million EUR 465 million EUR 5.19 +3% on a constant -3% on a constant -19% on a constant 2024: EUR 450 2024: EUR 6.34 currency basis currency bas
Slide 5: Highlights 2025: M&A
Highlights 2025: M&A ● Tecom (Spain) – Food and nutrition (completed July 2025) EMEA ● Ferrer (Spain) – Food and nutrition (completed June 2025) ● Tillmans (Italy) – Coatings & construction, food & nutrition, water treatment (completed December 2025) Americas ● Apus Química (Chile) – Advanced materi
Slide 6: Continued focus on the six strategic pillars that drive our growth
Continued focus on the six strategic pillars that drive our growth • 7 acquisitions completed across • 33 training hrs (2024: 21) • SalesAssistant launched globally segments and regions • 49% women in sub-top • Opening 6 new/upgraded • Further strengthening of supplier management (2024: 49%) laborat
Slide 7: Financials FY2025
Highlights Financials Outlook Q&A Annex 2025 FY2025
Slide 8: Financials 2025 – income statement
Financials 2025 – income statement FX adj. EUR million 2025 2024 Change Change % change Revenue 4,779 4,728 51 1% 5% Gross profit 1,194 1,202 (8) (1%) 3% Gross profit as a % of revenue 25.0% 25.4% (0.4%) Operating EBITDA 539 572 (33) (6%) (2%) Operating EBITDA as a % of revenue 11.3% 12.1% (0.8%) Op
Slide 9: Financials 2025 – income statement
Financials 2025 – income statement Asia- Holding EUR million EMEA Americas Pacific companies Total Gross profit 2025 561 350 282 1,194 2024 553 361 289 1,202 organic growth 1% (3%) (2%) (1%) acquisition growth 2% 5% 5% 4% currency impact (1%) (5%) (6%) (3%) Operating EBITA 2025 230 143 158 (33) 498
Slide 10: Financials 2025 – income statement (continued)
Financials 2025 – income statement (continued) FX adj. EUR million 2025 2024 Change Change % change Operating EBITA 498 531 (33) (6%) (3%) Net finance costs (80) (45) (35) Amortisation of intangible assets (102) (95) (6) Acquisition costs and results related to one-off adjustments to the organisatio
Slide 11: Financials 2025 – net finance costs
Financials 2025 – net finance costs EUR million 2025 2024 Change Net interest costs financing structure (58) (62) 4 Interest costs lease liabilities (4) (5) 1 Changes in deferred considerations 15 36 (21) Interest costs re employee benefits (2) (0) (2) Hyperinflation loss on net monetary position (6
Slide 12: Financials 2025 – income tax expenses and income tax %
Financials 2025 – income tax expenses and income tax % EUR million 2025 2024 Change Regular income tax expenses (95) (115) 20 Tax credits related to amortisation 13 11 2 Other 9 3 6 Income tax expenses (74) (102) 28 EUR million 2025 2024 Change Result before income tax, amortisation of intangibles,
Slide 13: Cash EPS and proposed dividend
Financials 2025 – cash EPS and proposed dividend EUR million 2025 2024 Change Result for the year 217 278 (22%) Amortisation of intangible assets 102 95 7% Tax credits re amortisation of intangible assets (13) (11) 22% Cash earnings 306 363 (16%) Weighted average number of shares (x million) 59 57 3
Slide 14: Financials 2025 – balance sheet
Financials 2025 – balance sheet EUR million 31/12/2025 31/12/2024 Change Property, plant and equipment 60 42 18 Right-of-use assets 98 103 (5) Intangible assets 2,658 2,609 49 Other financial assets/ deferred tax assets 25 55 (30) Total working capital 934 907 27 Provisions/ employee benefits (39) (
Slide 15: Year-end working capital
Financials 2025 – year-end working capital EUR m 31/12/2025 31/12/2024 31/12/2023 703 722 581 769 747 732 84 75 45 (442) (478) (391) (181) (158) (158) EUR million 31/12/2025 31/12/2024 31/12/2023 Inventories in days of revenue1 51 55 46 Trade receivables in days of revenue1 56 57 55 Trade payables i
Slide 16: Net debt
Financials 2025 – net debt EUR million 31/12/2025 31/12/2024 Change Maturity profile as of 31/12/2025 Loans and borrowings long term 1,378 1,397 (19) EUR m Loans and borrowings short term 325 300 25 1,400 Short term financial liabilities 87 110 (23) 1,200 Cash and cash equivalents (239) (525) 286 1,
Slide 17: Free cash flow
Financials 2025 – free cash flow EUR million 2025 2024 Change Change % Operating EBITA 498 531 (33) (6%) Depreciation 41 41 0 0% Operating EBITDA 539 572 (33) (6%) Lease payments (33) (32) (1) 4% Share based payments 3 4 (1) (14%) Adjusted operating EBITDA 509 544 (35) (6%) Capex (12) (11) (1) 9% ∆
Slide 18: Outlook
Highlights Financials Outlook Q&A Annex 2025 FY2025
Slide 19: Outlook
Outlook IMCD operates in different, often fragmented market segments in multiple geographic regions, connecting many customers and suppliers across a very diverse product range. In general, results are impacted by macroeconomic conditions and developments in specific industries. Results can be influ
Slide 20: Q&A
Highlights Financials Outlook Q&A Annex 2025 FY2025
Slide 21: Annex
Highlights Financials Outlook Q&A Annex 2025 FY2025
Slide 22: Profile
Profile IMCD is a market leader in the sales, marketing and distribution of speciality chemicals and ingredients Highlights: ● Formulatory and solutions provider ● Comprehensive and complementary product portfolio ● Multi-territory distribution management in EMEA, Asia-Pacific and Americas ● Headqua
Slide 23: 8 business groups, focusing on strategic market segments
8 business groups, focusing on strategic market segments Pharmaceuticals Coatings & Construction Food & Nutrition Advanced Materials Excipients; APIs; nutraceuticals; Coatings; decorative paints; Dairy; savoury; bakery; beverage; Compounders; converters; synthesis; agrochemicals; adhesives & sealant
Slide 24: High scores on external ESG ratings
High scores on external ESG ratings Demonstrating our continuous focus on best practices B- (Prime) ESG Risk Score C (2025) Rating A (2026) rating Platinum (2025) Rating 11.6, Score B (2024) on a scale of C+ rating (2024) Gold (2024) low risk (2025) On a scale of A AAA-CCC On a scale of A+ 12.6 (202
Slide 25: Disclaimer
Disclaimer This presentation may contain forward looking statements. These statements are based on current expectations, estimates and projections of IMCD’s management and information currently available to the company. IMCD cautions that such statements contain elements of risk and uncertainties th