IMCD N.V. (IMCDY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, welcome to the IMCD's first three months, 2026 results conference call hosted by Marcus Jordan, CEO and Hans Koimans CFO. For the first part of this call, all participants will be in listen only mode and afterwards there will be a question and answer session. If you wish to ask a question, please press pound key five on your telephone keypad. I would now like to give the floor to Marcus Jordan. Mr. Jordan, please go ahead. Thank you very much. Thank you all and a warm welcome. I'm Marcus Jordan and I'm here today with our CFO, Hans Coymans, for the first three months 2026 results, which we published in a press release earlier this morning. I'm going to keep my opening brief to allow sufficient time for Q&A as we have our AGM immediately after this meeting and so have a hard stop at 10 o'clock. For our first quarter, our first quarter of 2026 delivered solid results against a strong Q1 2025 comparable. and I'm happy to report an increase in free cash flow and a robust cash conversion margin. During the previous full-year call, we referred to positive conversations with our suppliers and customers regarding the demand outlook and green shoots potentially coming our way. Since that full-year call, a lot has happened, as there have been some reversals in tariffs following the court ruling that deemed the tariffs illegal, an introduction of other tariffs, and then the conflict in the Middle East which has created further uncertainty and quite some changes in the market dynamics. Focusing on the Middle East, since the conflict began, we have seen a significant amount of price increases, which can be broken down into two categories. Firstly, the direct impact of fuel increases on transportation costs, and secondly, an increase in the cost of the product itself. as th...