Imcd N.v. · EURONEXT:IMCD
Imcd — H1 2019 Earnings Presentation
19 slides from Imcd's earnings presentation, Aug 16, 2019
Slide 1: Conference Call: First half year 2019 results
CONFERENCE CALL First half year 2019 results IMCD N.V. 16 August 2019
Slide 2: Disclaimer
Page 2 Disclaimer This presentation may contain forward looking statements. These statements are based on current expectations, estimates and projections of IMCD’s management and information currently available to the company. IMCD cautions that such statements contain elements of risk and uncertain
Slide 3: Presenting team
Presenting team Page 3 Piet van der Slikke, CEO Hans Kooijmans, CFO • Led the formation of • Joined IMCD in 1996 IMCD since 1995 • Co-led formation of IMCD • Designed and executed IMCD’s strategy • 23 years of industry experience • 24 years of industry experience
Slide 4: Agenda
Agenda Page 4 • Company profile • Highlights first half year 2019 • Financials first half year 2019 • Outlook • Q&A
Slide 5: Company profile
Company profile Page 5 IMCD is a market-leader in the sales, marketing and distribution of speciality chemicals and food ingredients. Its result-driven professionals provide market-focused solutions to suppliers and customers across EMEA, Asia-Pacific and Americas, offering a range of comprehensive
Slide 6: Agenda
Agenda Page 6 • Company profile • Highlights first half year 2019 • Financials first half year 2019 • Outlook • Q&A
Slide 7: Highlights first half year 2019
Highlights first half year 2019 Page 7 Gross profit growth of 19% to EUR 312.0 million (+18% on a constant Gross profit currency basis) Operating Operating EBITA increase of 17% to EUR 123.1 million (+17% on a EBITA constant currency basis) Net result before amortisation and non-recurring items incr
Slide 8: Agenda
Agenda Page 8 • Company profile • Highlights first half year 2019 • Financials first half year 2019 • Outlook • Q&A
Slide 9: Income statement
Financials first half year 2019 Page 9 Income statement Jan.1 - June 30 Jan.1 - June 30 fx adj. EUR million change change 2019 2018 change Revenue 1,398 1,152 246 21% 20% Gross profit 312 263 49 19% 18% Gross profit in % of revenue 22.3% 22.8% (0.5%) Operating EBITDA 134 108 26 24% 24% Operating EBI
Slide 10: Income statement by region
Financials first half year 2019 Page 10 Income statement Asia Holding EMEA Americas Total EUR million Pacific companies Gross profit H1 2019 173 99 39 312 H1 2018 158 71 35 263 ∆ reported 10% 41% 14% 19% ∆ constant currency 11% 36% 13% 18% Operating EBITA H1 2019 71 42 17 (7) 123 H1 2018 70 28 16 (9
Slide 11: Income statement: IFRS 16 impact
Financials first half year 2019 Page 11 Income statement Asia Holding EMEA Americas Total EUR million Pacific companies Impact IFRS 16 operating EBITA H1 2019 excluding IFRS 16 impact 71.4 41.9 17.3 (9.2) 121.4 Impact IFR 16 (0.4) 0.1 0.1 1.9 1.7 H1 2019 including IFRS 16 impact 71.0 42.0 17.4 (7.3)
Slide 12: Income statement (continued)
Financials first half year 2019 Page 12 Income statement (continued) Jan.1 - June 30 Jan.1 - June 30 fx adj. EUR million change change 2019 2018 change Operating EBITA 123 105 18 17% 17% Net finance costs (13) (9) Income tax expenses (26) (22) Net result before amortísation/non recurring 85 74 11 14
Slide 13: Balance Sheet
Financials first half year 2019 Page 13 Balance Sheet 30 June 31 December impact 31 December 30 June 2019 2018 IFRS 16 2018 2018 EUR million restated reported Property, plant and equipment 79 77 52 25 18 Intangible assets 1,042 1,052 12 1,040 931 Other fin. assets/def tax assets 44 47 47 27 Working
Slide 14: Working capital
Financials first half year 2019 Page 14 Working capital EUR million 30 June 2019 31 December 2018 30 June 2018 Inventories 348 354 281 in days of revenue* 45 49 44 Trade and other receivables 467 398 406 in days of revenue* 60 55 64 Trade payables (288) (264) (251) in days of revenue* (37) (36) (39)
Slide 15: Financials first half year 2019
Financials first half year 2019 Page 15
Slide 16: Free cash flow
Financials first half year 2019 Page 16 Free cash flow Jan.1 - June 30 Jan.1 - June 30 EUR million change change 2019 2018 Operating EBITA 123.1 105.2 17.9 17% Depreciation 10.7 2.3 8.4 Operating EBITDA 133.8 107.5 26.3 25% Share based payments 1.2 1.1 0.1 IAS 17 lease payments (9.5) (9.5) Capex (2.
Slide 17: Agenda
Page 17 Agenda • Company profile • Highlights first half year 2019 • Financials first half year 2019 • Outlook • Q&A
Slide 18: Outlook
Page 18 Outlook IMCD operates in different, often fragmented market segments in multiple geographic regions, connecting many customers and suppliers across a very diverse product range. In general, results are impacted by macroeconomic conditions and developments in specific industries. Furthermore
Slide 19: Agenda
Page 19 Agenda • Company profile • Highlights first half year 2019 • Financials first half year 2019 • Outlook • Q&A