Dutch specialty chemicals and ingredient distributor, IMCD NV, has reported a decline in net profit for the first nine months of the year, attributing it to organic contraction and the inclusion of newly acquired companies. Despite challenging global economic conditions and lower demand in the industrial market segment, IMCD managed to deliver solid results.
- Net profit for the nine months ended September 30th amounted to 214 million euros, a 19% decrease from the previous year's figure of 264 million euros.
- Operating earnings before interest, taxes, and amortization stood at 400 million euros, down from 443.5 million euros.
- Revenue for the period declined to 3.38 billion euros from 3.51 billion euros.
IMCD anticipates lower earnings for the full year compared to the previous year. However, it expects an improvement in performance during the fourth quarter when compared to the preceding two quarters.
For the year ending December 31, 2022, IMCD recorded a net profit of 313 million euros. Adjusted Ebita stood at 554.5 million euros, while revenue amounted to 4.60 billion euros.
Despite the challenging economic landscape, IMCD remains committed to adapting and navigating through these conditions.