Slide 1: One company. Endless possibilities. Full Year 2021 results
One company. Endless possibilities. CONFERENCE CALL Full Year 2021 results 25 February 2022
Slide 2: Presenting team
Presenting team Piet van der Slikke Hans Kooijmans Led the formation of IMCD since 1995 Joined IMCD in 1996 Designed and executed IMCD’s strategy Co-led formation of IMCD 26 years of industry experience 25 years of industry experience 2
Slide 3: Agenda: Company profile
Company Highlights Financials Outlook Q&A profile 2021 2021 3
Slide 4: 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 ● Headqu
Slide 5: Highlights 2021 section
Company Highlights Financials Outlook Q&A profile 2021 2021 5
Slide 6: Highlights 2021
Highlights 2021 GROSS PROFIT Gross profit growth of 29% to EUR 836 million (+30% on a constant currency basis) OPERATING EBITA Operating EBITA increase of 54% to EUR 374 million (+55% on a constant currency basis) RESULT FOR THE YEAR Net result for the year increase of 73% to EUR 207 million (+74% o
Slide 7: Highlights 2021: M&A EMEA and Americas
Highlights 2021 M&A EMEA • Acquisition of Ejder Kimya, a Turkish chemicals distributor of raw materials for personal care and pharmaceuticals products and food additives (signed in November 2020 and closed on 6 January 2021) • Acquisition of the Dutch-based distributor Peak International specialized
Slide 8: Highlights 2021: M&A Asia Pacific
Highlights 2021 M&A Asia Pacific • Acquisition of Yuanhe Chemicals, a speciality coatings, textile and ink distributor in China (closed on 2 June 2021) • Acquisition of PT Megasetia Agung Kimia, the leading distributor for speciality ingredients for the pharmaceuticals industry in Indonesia. In addi
Slide 9: Financials 2021 section
Company Highlights Financials Outlook Q&A profile 2021 2021 9
Slide 10: Financials 2021: Income statement
Financials 2021 Income statement fx adj. EUR million 2021 2020 1 change change change Revenue 3.435 2.775 660 24% 25% Gross profit 836 648 189 29% 30% Gross profit in % of revenue 24,3% 23,3% 1,0% Operating EBITDA 401 269 132 49% 51% Operating EBITDA in % of revenue 11,7% 9,7% 2 Operating EBITA 374
Slide 11: Income statement by region
Financials 2021 Income statement Holding EUR million EMEA Americas Asia Pacific companies1 Total Gross profit 2021 412 250 174 836 2020 337 204 106 647 ∆ reported 22% 23% 64% 29% ∆ constant currency 22% 26% 61% 30% Gross profit in % of revenue 2021 25,7% 22,4% 24,4% 24,3% 2020 25,4% 21,6% 21,1% 23,3
Slide 12: Income statement (continued)
Financials 2021 Income statement (continued) fx adj. 1 EUR million 2021 2020 change change change Operating EBITA 374 243 130 54% 55% Recurring net finance costs (22) (26) 4 Recurring income tax expenses (86) (49) (37) Net result before amortisation and non-recurring items 266 168 98 58% 60% Amortis
Slide 13: Net finance costs
Financials 2021 Net finance costs EUR million 2021 2020 1 change Interest costs financing structure (13,2) (16,9) 3,7 Interest exp. Lease liabilities (IFRS 16) (2,5) (2,4) (0,1) Amortisation of finance costs (0,6) (0,6) - Changes deferred considerations (1,2) 2,0 (3,2) Interest costs re employee ben
Slide 14: Income tax expenses
Financials 2021 Income tax expenses EUR million 2021 2020 1 change Regular income tax expenses (85,0) (47,6) (37,4) Adjustments for prior years (0,8) (1,5) 0,7 Reduction in tax rates 0,1 (0,2) 0,3 (De-) recognition tax losses (0,2) 0,3 (0,5) Tax credits related to amortisation 8,5 4,6 3,9 Non-recurr
Slide 15: Change in accounting policy following the IFRIC agenda decision
Financials 2021 Change in accounting policy following the IFRIC agenda decision 2021 2020 excluding including excluding including EUR million adjustment adjustment adjustment adjustment adjustment adjustment More operating expenses (56) (10) (66) (50) (10) (60) Operational EBITA 383 (10) 374 254 (10
Slide 16: Cash EPS - proposed dividend
Financials 2021 Cash EPS - proposed dividend EUR million 2021 2020 1 change change Result for the year 207 121 Amortisation of intangible assets 66 57 Tax credits related to amortisation (9) (5) Cash earnings 264 173 Weighted average number of share (x milion) 56,9 53,7 Cash earnings per share (weig
Slide 17: Balance Sheet
Financials 2021 Balance Sheet EUR million 31 December 2021 31 December 2020 1 change Property, plant and equipment 29 27 2 Right-of-use assets 69 68 1 Intangible assets 1.808 1.547 261 Other fin. assets/def tax assets 41 45 (5) Working capital 612 444 169 Provisions/employee benefits (36) (34) (2) D
Slide 18: Working capital
Financials 2021 Working capital EUR million 31 December 2021 31 December 2020 1 change Inventories 526 371 155 2 in days of revenue 54 46 8 Trade and other receivables 619 469 150 in days of revenue 2 63 58 5 Trade payables (403) (292) (111) 2 in days of revenue 41 36 5 Other payables (130) (105) (2
Slide 19: Net debt
Financials 2021 Net debt 31 December EUR million 2021 2020 2 change Loans and borrowings long term 667 581 86 Loans and borrowings short term 80 (80) Short term financial liabilities 451 234 217 Cash and cash equivalents (178) (169) (9) Net Debt 940 727 213 Net Debt / Operating EBITDA ratio 1 2,3 2,
Slide 20: Free cash flow
Financials 2021 Free cash flow EUR million 2021 2020 1 change Operating EBITA 374 243 130 Depreciation 27 26 2 Operating EBITDA 401 269 132 Lease payments (22) (20) (3) Share based payments 5 5 1 Adjusted Operating EBITDA 384 254 130 Capex (5) (7) 2 ∆ Working capital 2 (100) 30 (131) Free cash flow
Slide 21: Outlook 2021 section
Company Highlights Financials Outlook Q&A profile 2021 2021 21
Slide 22: 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 23: Q&A section
Company Highlights Financials Outlook Q&A profile 2021 2021 23
Slide 24: Disclaimer
Disclaimer The content in this presentation is provided to you by IMCD N.V. (“IMCD”) and intended for your personal information only. All information appearing herein is based on our present knowledge and experience (“as is”) and IMCD makes no representations as to its accuracy or sufficiency. To th