Slide 1: One company. Endless possibilities
One company. Endless possibilities CONFERENCE CALL Full Year 2022 results 24 February 2023
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 27 years of industry experience 26 years of industry experience 2
Slide 3: Company profile
Company Highlights Financials Outlook Q&A profile 2022 2022 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 2022
Company Highlights Financials Outlook Q&A profile 2022 2022 5
Slide 6: Highlights 2022
Highlights 2022 GROSS PROFIT Gross profit growth of 37% to EUR 1,147 million (+31% on a constant currency basis) OPERATING EBITA Operating EBITA increase of 48% to EUR 555 million (+42% on a constant currency basis) NET RESULT Net result increase of 51% to EUR 313 million (+44% on a constant currenc
Slide 7: Highlights 2022 – continued
Highlights 2022 – continued M&A in 2022 • 11 acquisitions completed adding EUR 284 million revenues1 and about 450 employees • 1 acquisition signed in 2022 and expected to close in Q1 2023 • Acquisitions EMEA : o Polychem (Austria/Southeast Europe) – Coatings, construction and composites (February 2
Slide 8: Highlights 2022 – continued
Highlights 2022 – continued M&A in 2022 - continued • Acquisitions Asia Pacific: • Syntec (China) – Personal care, cosmetics and home care (January 2022) • RPL (Australia/NZ) – Home care and water treatment (January 2022) • Aquatech (China) – Coatings, ink and textile (February 2022) • Kuni (Japan)
Slide 9: Financials 2022
Company Highlights Financials Outlook Q&A profile 2022 2022 9
Slide 10: Financials 2022 – Income statement
Financials 2022 Income statement fx adj. EUR million 2022 2021 change change change Revenue 4.602 3.435 1.166 34% 28% Gross profit 1.147 836 311 37% 31% Gross profit in % of revenue 24,9% 24,3% 0,6% Operating EBITDA 585 401 184 46% 40% Operating EBITDA in % of revenue 12,7% 11,7% 1 Operating EBITA 5
Slide 11: Financials 2022 – Income statement by region
Financials 2022 Income statement Holding EUR million EMEA Americas Asia Pacific companies Total Gross profit 2022 530 383 235 1.147 2021 412 250 174 836 ∆ reported 29% 53% 35% 37% ∆ constant currency 30% 35% 29% 31% Operating EBITA 2022 247 195 145 (32) 555 2021 180 113 110 (29) 374 ∆ reported 37% 7
Slide 12: Financials 2022 – Income statement (continued)
Financials 2022 Income statement (continued) fx adj. EUR million 2022 2021 change change change Operating EBITA 555 374 181 48% 42% Net finance costs (26) (22) (4) Recurring income tax expenses (133) (86) (47) Net result before amortisation and non-recurring items 395 266 129 49% 43% Amortisation of
Slide 13: Financials 2022 – Net finance costs
Financials 2022 Net finance costs EUR million 2022 2021 change Interest costs financing structure (21) (13) (8) Interest exp. Lease liabilities (IFRS 16) (3) (3) - Amortisation of finance costs (1) (1) (0) Changes deferred considerations 7 (1) 8 Interest costs re employee benefits (0) (0) 0 Currency
Slide 14: Financials 2022 – Income tax expenses
Financials 2022 Income tax expenses EUR million 2022 2021 change Regular income tax expenses (130) (85) (45) Adjustments for prior years (4) (1) (3) Reduction in tax rates 0 0 0 (De-) recognition tax losses 0 (0) 1 Tax credits related to amortisation 9 9 - Non-recurring tax income 2 1 1 Income tax e
Slide 15: Cash EPS - proposed dividend
Financials 2022 2,37 1,62 Cash EPS - proposed dividend EUR million + 36% CAGR 2022 2021 change Result for the year 313 207 51% 1,02 0,90 Amortisation of intangible assets 82 65 0,80 Tax credits related to amortisation (9) (9) 0,62 0,55 0,44 Cash earnings 386 264 46% 0,20 Weighted average number of s
Slide 16: Financials 2022 – Balance Sheet
Financials 2022 Balance Sheet EUR million 31 Dec 2022 31 Dec 2021 change Property, plant and equipment 30 29 2 Right-of-use assets 83 69 14 Intangible assets 1.941 1.808 133 Other fin. assets/def tax assets 43 41 2 Working capital 770 612 158 Provisions/employee benefits (36) (36) (0) Deferred tax l
Slide 17: Financials 2022 – Working capital
Financials 2022 Working capital EUR million 31 Dec 2022 31 Dec 2021 change Inventories 622 526 96 1 in days of revenue 48 54 (6) Trade and other receivables 702 619 83 1 in days of revenue 54 63 (9) Trade payables (389) (403) 14 in days of revenue 1 30 41 (11) Other payables (165) (130) (35) 1 in da
Slide 18: Financials 2022 – Net debt
Financials 2022 Net debt 31 December EUR million 2022 2021 change Loans and borrowings long term 913 667 246 Loans and borrowings short term 40 40 Short term financial liabilities 296 451 (155) Cash and cash equivalents (222) (178) (44) Net Debt 1.027 940 87 Net Debt / Operating EBITDA ratio 1 1.7 2
Slide 19: Financials 2022 – Free cash flow
Financials 2022 Free cash flow EUR million 2022 2021 change Operating EBITA 555 374 181 Depreciation 30 27 3 Operating EBITDA 585 401 184 Lease payments (24) (22) (1) Share based payments 4 5 (1) Adjusted Operating EBITDA 565 384 181 Capex (8) (5) (3) ∆ Working capital 1 (123) (100) (23) Free cash f
Slide 20: Outlook 2022
Company Highlights Financials Outlook Q&A profile 2022 2022 20
Slide 21: 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 22: Q&A
Company Highlights Financials Outlook Q&A profile 2022 2022 22
Slide 23: 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 24: Our ambition is to exceed your expectations.
F Find us on: Our ambition is to exceed your expectations. We deliver what we promise. www.imcdgroup.com