IMCD N.V. (IMCDY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the IMCD 2025 Full Year Results Conference Call, hosted by Marcus Jordan, CEO, and Hans Koimond, 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 5 on your telephone keypad. I would now like to give the floor to Marcus Jordan. Mr. Jordan, please go ahead. Thank you very much, Elder. Good morning to you all, and a warm welcome. I'm Marcus Jordan, and I'm here today with our CFO, Hans Coymans, for the 2025 results, which we published in a press release earlier this morning. After a positive start to the year, with good first quarter results, the following quarters of 2025 were challenging. amid macroeconomic conditions, tariff uncertainty and geopolitical unrest. This resulted in softer demand across a number of markets, limited order visibility and continued just-in-time deliveries. Looking at our business segments, we saw pharmaceuticals and food and nutrition have the most solid performance in 2025, and our beauty and personal care and industrial segments being generally soft in demand across all three regions. Moving on to the 2025 numbers, you will find a summary of our financial results on slide 4. Gross profit at almost €1.2 billion is slightly down versus last year, but up 3% on a constant currency basis. The gross profit margin is down from 25.4% to 25%, primarily as a result of the impact of acquired companies and product mix. EBITR was down 3% on a constant currency basis to €498 million. This is a result of a slightly lower gross profit combined with inflation-driven cost growth. As mentioned in the Q3 call, we optimised our structure during the second half of the year to further intensify our sales ...