Imcd N.v. · EURONEXT:IMCD
Imcd — H1 2018 Earnings Presentation
18 slides from Imcd's earnings presentation, Aug 17, 2018
Slide 1: Conference Call: First half year 2018 results
CONFERENCE CALL First half year 2018 results IMCD N.V. 17 August 2018
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
Page 3 Presenting team 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 • 22 years of industry experience • 23 years of industry experience
Slide 4: Agenda
Page 4 Agenda • Company profile • Highlights first half year 2018 • Financials first half year 2018 • Outlook • Q&A
Slide 5: Company profile
Page 5 Company profile 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
Page 6 Agenda • Company profile • Highlights first half year 2018 • Financials first half year 2018 • Outlook • Q&A
Slide 7: Highlights first half year 2018
Highlights first half year 2018 Page 7 Gross profit growth of 24% to EUR 263.1 million (+30% on a constant Gross profit currency basis) Operating Operating EBITA increase of 24% to EUR 105.2 million (+30% on a EBITA constant currency basis) Net result before amortisation and non-recurring items incr
Slide 8: Agenda
Page 8 Agenda • Company profile • Highlights first half year 2018 • Financials first half year 2018 • Outlook • Q&A
Slide 9: Income statement
Financials first half year 2018 Page 9 Income statement Jan.1 - June 30 Jan.1 - June 30 fx adj. EUR million change change 2018 2017 change Revenue 1,151.8 936.2 215.6 23% 29% Gross profit 263.1 212.2 50.9 24% 30% Gross profit in % of revenue 22.8% 22.7% 0.1% Operating EBITDA 107.5 86.9 Operating EBI
Slide 10: Income statement (continued)
Financials first half year 2018 Page 10 Income statement (continued) Jan.1 - June 30 Jan.1 - June 30 fx adj. EUR million change change 2018 2017 change Operating EBITA 105.2 84.6 20.6 24% 30% Net finance costs (9.3) (7.6) Income tax expenses (21.8) (19.2) Net result before amortísation/non recurring
Slide 11: Income statement by segment
Financials first half year 2018 Page 11 Income statement Asia Holding EMEA Americas Total EUR million Pacific companies Gross profit H1 2018 158.1 34.5 70.5 263.1 H1 2017 141.6 33.0 37.6 212.2 ∆ reported 12% 5% 88% 24% ∆ constant currency 13% 14% 112% 30% Operating EBITA H1 2018 70.3 15.7 28.1 (8.9)
Slide 12: Balance Sheet
Financials first half year 2018 Page 12 Balance Sheet EUR million 30 June 2018 31 December 2017 30 June 2017 Property, plant and equipment 18 19 19 Intangible assets 931 949 883 Other fin. assets/def tax assets 27 28 27 Working capital 356 314 268 Provisions/employee benefits (19) (21) (12) Deferred
Slide 13: Working capital
Financials first half year 2018 Page 13 Working capital EUR million 30 June 2018 31 December 2017 30 June 2017 Inventories 281 266 212 in days of revenue* 42 44 40 Trade receivables 382 311 311 in days of revenue* 56 58 56 Trade payables (251) (213) (215) in days of revenue* 37 38 39 Other receivabl
Slide 14: Net debt development
Financials first half year 2018 Page 14 Net debt development 550 506 9 490 -54 33 500 6 18 450 5 400 350 300 Net debt 31 Cash operating Interest paid Tax paid Investing Dividend paid Other Net debt 30 December 2017 activities activities June 2018
Slide 15: Free cash flow
Financials first half year 2018 Page 15 Free cash flow Jan.1 - June 30 Jan.1 - June 30 EUR million change 2018 2017 Operating EBITA 105.2 84.6 20.6 Depreciation 2.3 2.3 (0.0) Operating EBITDA 107.5 86.9 20.6 Share based payments 1.1 1.0 0.1 Capex (1.8) (1.4) (0.4) 1 ∆ Working capital (52.7) (12.6) (
Slide 16: Agenda
Page 16 Agenda • Company profile • Highlights first half year 2018 • Financials first half year 2018 • Outlook • Q&A
Slide 17: Outlook
Page 17 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 18: Agenda
Page 18 Agenda • Company profile • Highlights first half year 2018 • Financials first half year 2018 • Outlook • Q&A