Imcd N.v. · EURONEXT:IMCD
Imcd — H1 2017 Earnings Presentation
19 slides from Imcd's earnings presentation, Aug 25, 2017
Slide 1: Conference Call: First half year 2017 results
CONFERENCE CALL First half year 2017 results IMCD N.V. 25 August 2017
Slide 2: Disclaimer
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 uncer
Slide 3: Presenting team
Presenting team Piet van der Slikke, CEO Hans Kooijmans, CFO • Led the formation of • Joined IMCD in 1996 IMCD since 1995 • Co-led formation of IMCD • Designed and executed IMCD’s strategy • 21 years of industry experience • 22 years of industry experience 3
Slide 4: Agenda
Agenda • Company profile • Highlights first half year 2017 • Financials first half year 2017 • Outlook • Q&A 4
Slide 5: Company profile
Company profile IMCD is a market-leader in the sales, marketing and distribution of speciality chemicals and food ingredients. Its result-driven professionals provide market-focused solutions to suppliers and customers across EMEA, Asia-Pacific and Americas, offering a range of comprehensive product
Slide 6: Agenda
Agenda • Company profile • Highlights first half year 2017 • Financials first half year 2017 • Outlook • Q&A 6
Slide 7: Highlights first half year 2017
Highlights Highlights first half year 2017 Gross profit growth of 9% to EUR 212.2 million (+8% on a constant currency Gross profit basis) Operating Operating EBITA increase of 8% to EUR 84.6 million (+8% on a constant currency EBITA basis) Net result before amortisation and non-recurring items incre
Slide 8: Highlights first half year 2017 (2)
Highlights Highlights first half year 2017 (2) Acquisition of Neuvendis, completed on 23 June 2017, expanding the Italian Neuvendis operations in the speciality chemicals market Acquisition of the speciality distribution business of Bossco Industries (July 2017) Bossco will further strengthen IMCD U
Slide 9: Agenda
Agenda • Company profile • Highlights first half year 2017 • Financials first half year 2017 • Outlook • Q&A 9
Slide 10: Income statement
Financials first half year 2017 Income statement Jan.1 - June 30 Jan.1 - June 30 fx adj. EUR million change change 2017 2016 change Revenue 936.2 884.8 51.4 6% 4% Gross profit 212.2 194.0 18.2 9% 8% Gross profit in % of revenue 22.7% 21.9% 0.7% Operating EBITDA 86.9 80.2 Operating EBITDA in % of rev
Slide 11: Income statement (continued)
Financials first half year 2017 Income statement (continued) Jan.1 - June 30 Jan.1 - June 30 fx adj. EUR million change change 2017 2016 change Operating EBITA 84.6 78.3 6.4 8% 8% Net finance costs (7.6) (9.4) Income tax expenses (19.2) (14.8) Net result before amortísation/non recurring 57.9 54.0 3
Slide 12: Income statement by region
Financials first half year 2017 Income statement Asia Holding EMEA Americas Total EUR million Pacific companies Revenue H1 2017 589.8 158.7 187.8 936.2 H1 2016 552.7 159.7 172.4 884.8 ∆ reported 7% (1%) 9% 6% ∆ constant currency 7% (4%) 3% 4% Gross profit H1 2017 141.6 33.0 37.6 212.2 H1 2016 130.6
Slide 13: Balance Sheet
Financials first half year 2017 Balance Sheet EUR million 30 June 2017 31 December 2016 30 June 2016 Property, plant and equipment 19 21 20 Intangible assets 883 908 898 Other fin. assets/def tax assets 27 30 26 Working capital 268 248 243 Provisions/employee benefits (12) (11) (12) Deferred tax lia
Slide 14: Working capital
Financials first half year 2017 Working capital EUR million 30 June 2017 31 December 2016 30 June 2016 Inventories 212 204 192 in days of revenue 40 43 39 Trade and other receivables 325 265 305 in days of revenue 62 56 62 Trade payables (215) (171) (200) in days of revenue (41) (36) (41) Other paya
Slide 15: Net debt development
Financials first half year 2017 450 398 -75 5 399 400 29 23 350 15 5 300 250 Net debt 31 Cash operating Interest paid Tax paid Investing Dividend paid Other Net debt 30 December 2016 activities activities June 2017 15
Slide 16: Free cash flow
Financials first half year 2017 Free cash flow Jan.1 - June 30 Jan.1 - June 30 EUR million change 2017 2016 Operating EBITA 84.6 78.3 6.4 Depreciation 2.3 2.0 0.3 Operating EBITDA 86.9 80.2 6.7 Share based payments 1.0 0.7 0.3 Capex (1.4) (3.1) 1.7 1 ∆ Working capital (12.6) (14.5) 1.9 Free cash flo
Slide 17: Agenda
Agenda • Company profile • Highlights first half year 2017 • Financials first half year 2017 • Outlook • Q&A 17
Slide 18: Outlook
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. Furthermore
Slide 19: Agenda
Agenda • Company profile • Highlights first half year 2017 • Financials first half year 2017 • Outlook • Q&A 19