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Earnings Calls

Last Earnings Call

Fiscal Period
Q2 2026
Call Date
Jul 29, 2026
AI Summary
Q2 2026

Results: IMCD said first-half gross profit rose to EUR 658 million, EBITA to EUR 285 million, and free cash flow to EUR 222 million, with cash conversion at 76.2%.

Demand: Management said demand improved in Q2 after a soft Q1, with only limited prebuying and no major pullback seen so far in Q3.

Pricing: Price increases were broad-based across suppliers, but the biggest percentage hikes were in smaller semi-specialty and semi-commodity products, not the core specialty portfolio.

Regions: EMEA was the strongest and most stable region, while the Americas were better in Q2 but still held back by weak U.S. coatings and construction demand.

Costs: The company said cost control remained tight, with the cost base roughly flat versus last year and positive operating leverage returning in Q2.

M&A: IMCD completed three small acquisitions in H1 and said its deal pipeline remains healthy, though transactions are taking longer in the current market.

Key Financials
Gross profit
EUR 658 million
EBITA
EUR 285 million
Free cash flow
EUR 222 million
Cash conversion margin
76.2%
Organic gross profit growth
3%
Organic EBITA growth
modest organic growth
Gross profit margin
24.9%
Operating EBITA margin
10.8%
Conversion margin
43.3%
Net result
EUR 12 million
Debt
EUR 1.6 billion
Leverage ratio
2.8x EBITDA
Working capital
just over EUR 1 billion
Working capital days
70 days
Debtor days
68 days
Stock days
54 days
Employees
about 5,200 full-time employees
Acquisition spend
about EUR 50 million
Deferred considerations
about EUR 40 million
Earnings Call Recording

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