Slide 1: One Company. Endless Possibilities
One Company. Endless Possibilities CONFERENCE CALL Full-Year 2023 results March 1st, 2024
Slide 2: Presenting team
Presenting team Valerie Diele-Braun Hans Kooijmans CEO CFO 2
Slide 3: Agenda
1 Company profile 2 Highlights 2023 3 Financials full year 2023 4 Outlook 5 Q&A 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 ● Headqua
Slide 5: Highlights 2023
Company Highlights Financials full Outlook Q&A profile 2023 year 2023 5
Slide 6: Highlights 2023
Highlights 2023 Gross profit • Gross profit of EUR 1,123 million (+2% on a constant currency basis) Operating EBITA • Operating EBITA decrease of 7% to EUR 515 million (-3% on a constant currency basis) Net Result • Net result decrease of 7% to EUR 292 million (-3% on a constant currency basis) Free
Slide 7: Highlights 2023: M&A in 2023
Highlights 2023 M&A in 2023 • 13 acquisitions completed adding EUR 375 million revenues1 and about 345 employees1 • 5 acquisitions signed in 2023 and closed in Q1of 2024 adding another EUR 150 million revenues1 and 200 employees1 • Acquisitions closed EMEA : o Orange Chemicals (UK and Ireland) - Per
Slide 8: Highlights 2023: M&A in 2023 - continued
Highlights 2023 M&A in 2023 - continued • Acquisitions closed America’s: • Allianz (Colombia) - Active pharmaceutical ingredients (May 2023) • Sachs (Puerto Rico) - Pharmaceutical industry (August 2023) • Maprin (Chile) - Beauty and personal care (August 2023) • Acquisitions closed Asia Pacific: • S
Slide 9: Highlights 2023: M&A in 2023 - continued
Highlights 2023 M&A in 2023 - continued • Acquisitions signed in 2023 and closed in 2024: • Euro Chemo Pharma (Malaysia) - Pharmaceutical ingredients, food and personal care (signed May 2023 and closed 29 February 2024) • CJ Shah & Company (India) - 2 business lines for coatings, adhesives and life
Slide 10: Highlights 2023: ESG progress
Highlights 2023 Continued progress on various ESG topics: • People and culture: • 44% management positions filled by women (2022: 42%) • Environment: • Scope 1-2 GHG emission intensity minus 58% vs 2019 baseline • Scope 3 GHG emission intensity minus 8% vs 2019 baseline • Product: • 88% of downstrea
Slide 11: IMCD celebrates 10 years listing on the stock market
IMCD celebrates 10 years listing on the stock market (2014-2023) Operating EBITA (EUR million) Cash earnings per share (EUR) 11
Slide 12: Financials full year 2023
Company Highlights Financials full Outlook Q&A profile 2023 year 2023 12
Slide 13: Financials 2023: Income statement
Financials 2023 Income statement fx adj. EUR million 2023 2022 change change change Revenue 4.443 4.602 (159) (3%) 0% Gross profit 1.123 1.147 (25) (2%) 2% Gross profit in % of revenue 25,3% 24,9% 0,4% Operating EBITDA 548 585 (37) (6%) (2%) Operating EBITDA in % of revenue 12,3% 12,7% Operating EBI
Slide 14: Financials 2023: Income statement by region
Financials 2023 Income statement Holding EUR million EMEA Americas Asia Pacific companies Total Gross profit 2023 530 340 253 1.123 2022 530 383 235 1.147 organic growth 0% (13%) 6% (3%) acquisition growth 3% 4% 9% 5% currency impact (3%) (2%) (7%) (4%) Operating EBITA 2023 242 155 151 (33) 515 2022
Slide 15: Income statement (continued)
Financials 2023 Income statement (continued) fx adj. EUR million 2023 2022 change change change Operating EBITA 515 554 (40) (7%) (3%) Net finance costs (25) (26) 1 Recurring income tax expenses (119) (133) 14 Net result before amortisation and non-recurring items 370 395 (25) (6%) (2%) Amortisation
Slide 16: Net finance costs
Financials 2023 Net finance costs EUR million 2023 2022 change Interest costs financing structure (41) (21) (20) Interest exp. Lease liabilities (IFRS 16) (3) (3) (1) Amortisation of finance costs (2) (1) (1) Changes deferred considerations 29 7 22 Interest costs re employee benefits (0) (0) (0) Cur
Slide 17: Income tax expenses
Financials 2023 Income tax expenses EUR million 2023 2022 change Regular income tax expenses (120) (130) 11 Adjustments for prior years (1) (4) 2 Reduction in tax rates (0) 0 (0) (De-) recognition tax losses 2 0 2 Tax credits related to amortisation 9 9 0 Non-recurring tax income (0) 2 (2) Income ta
Slide 18: Cash EPS - proposed dividend
Financials 2023 Cash EPS - proposed dividend + 31 % EUR million 2023 2022 change CAGR Result for the year 292 313 (7%) Amortisation of intangible assets 81 82 Tax credits related to amortisation (9) (9) Cash earnings 365 386 (6%) Weighted average number of share (x milion) 56,9 56,9 Cash earnings pe
Slide 19: Balance Sheet
Financials 2023 Balance Sheet EUR million 31 Dec 2023 31 Dec 2022 change Property, plant and equipment 36 30 6 Right-of-use assets 100 83 17 Intangible assets 2.260 1.941 319 Other fin. assets/def tax assets 50 43 7 Working capital 764 770 (6) Provisions/employee benefits (46) (36) (10) Deferred tax
Slide 20: Working capital
Financials 2023 Working capital EUR million 31 Dec 2023 31 Dec 2022 change Inventories 581 622 (41) 1 in days of revenue 46 48 (2) Trade and other receivables 732 702 30 in days of revenue 1 58 54 4 Trade payables (391) (389) (2) in days of revenue 1 31 30 1 Other payables (158) (165) 7 in days of r
Slide 21: Net debt December
Financials 2023 Net debt 31 December EUR million 2023 2022 change Loans and borrowings long term 1.250 913 337 Loans and borrowings short term 0 40 (40) Short term financial liabilities 430 296 134 Cash and cash equivalents (394) (222) (172) Net Debt 1.286 1.027 259 Net Debt / Operating EBITDA ratio
Slide 22: Free cash flow
Financials 2023 Free cash flow EUR million 2023 2022 change Operating EBITA 515 555 (40) Depreciation 33 30 3 Operating EBITDA 548 585 (37) Lease payments (26) (24) (3) Share based payments 5 4 1 Adjusted Operating EBITDA 526 565 (39) Capex (10) (8) (2) ∆ Working capital1 38 (123) 161 Free cash flow
Slide 23: Outlook
Company Highlights Financials full Outlook Q&A profile 2023 year 2023 23
Slide 24: 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 25: Q&A
Company Highlights Financials full Outlook Q&A profile 2023 year 2023 25
Slide 26: 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
Slide 27: One company. Endless possibilities
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