IMCD (IMCD) Investor presentation summary

Business overview and strategy

• Operates as a global distributor and formulator of specialty chemicals and ingredients, serving over 71,000 customers with 52,000 products in more than 60 countries.

• Employs 5,246 professionals across 8 business groups and 86 technical labs, with a focus on technical expertise and formulation support.

• Maintains an asset-light business model, leveraging exclusive supplier relationships and a fully integrated global IT system.

• Drives value through six strategic pillars: organisational, sustainability, digital, operational, portfolio, and commercial excellence.

• Focuses on high-value, lower-tonnage specialty chemicals, providing resilience and pricing power compared to commodity distributors.

Financial performance and capital allocation

• 2025 revenue reached €4,779 million, with operating EBITA of €498 million and a conversion margin of 41.7%.

• Free cash flow increased to €465 million, with a cash conversion margin of 91.4%.

• Net debt rose to €1,552 million, with a leverage ratio of 2.8x operating EBITDA, remaining within covenant limits.

• Cash earnings per share was €5.19, and a proposed dividend of €1.81 per share reflects a 35% payout ratio.

• Investment grade ratings from Moody’s (Baa3) and Fitch (BBB-) highlight strong margins, cash flow, and prudent financial policy.

Growth drivers and market positioning

• Growth is driven by a balance of organic expansion and targeted M&A, with over 100 acquisitions completed.

• Maintains high supplier retention through exclusive, long-term contracts, with >90% of supplier agreements featuring exclusivity clauses.

• Operates in diverse end-markets including pharmaceuticals, food & nutrition, coatings, advanced materials, and more.

• Digitalisation and omnichannel platforms like MyIMCD and SalesAssistant enhance customer experience and commercial efficiency.

• Matrix organisation structure enables local entrepreneurship and global best practice sharing.