IMCD

IMCD shares climbed 9.1% to €96.58 after results for H1 2026 were released. Operating EBITA for Q2 was €155.2m (consensus €146.0m) and organic revenue growth was 7.5% (consensus 5.0%). For the half-year, currency-adjusted EBITA rose to €285m (+8%), revenue reached €2,638m (+11% after exchange rate adjustments) and free cash flow increased 28% to €222m. CEO Marcus Jordan described the period positively and expressed confidence in further earnings growth; analyst updates, such as an upgrade by UBS, supported the rally. » Mere på de.investing.com

UBS upgraded IMCD from “Neutral” to “Buy” and raised its price target from €85 to €100, after which the stock gained more than 5%. The bank sees a feasible path to organic EPS growth of 6–7%, supported by rising oil and chemical prices and ongoing supply-chain disruptions, which could add roughly 2% growth in 2026–27. UBS expects a slow volume recovery and a turnaround in revenue growth in Q2 2026, cites a bullish target of €140 and a negative scenario of €50. IMCD is currently trading at around 11x EV/EBITA for 2027; risks include cyclical industrial demand, regulatory and health-related issues, and fluctuations in product costs. » Mere på de.investing.com

IMCD reported an EBITA of €129.8 million for the first quarter of 2026, 9% below the prior year but 5% above the consensus estimate of €123.7 million. Organic sales fell 0.8%, while the Asia‑Pacific region grew by 3.5%; EMEA and the Americas saw declines. Gross and EBITA margins fell by 116 and 101 basis points respectively, though the EBITA margin of 10.2% was slightly above expectations. Free cash flow rose 19% to €121 million; leverage remained at 2.8 times EBITDA. IMCD does not provide guidance for 2026 but expects price increases, greater supply‑chain uncertainty and pressure on suppliers, and says it is well positioned. » Mere på de.investing.com

IMCD shares fell by more than 15% at one point on Wednesday and were last down 12.7% at €77.60, close to the recent six-year low of €71.56. The company missed expectations significantly in the fourth quarter and, as usual, gave no outlook for the new year. Analysts at Barclays and Goldman criticized the steeper revenue decline in the quarter and see higher hurdles for the first quarter due to the weak environment. » Mere på de.investing.com

IMCD has nominated Floris Lagerwerf as its next Chief Financial Officer effective January 2027; he will succeed Hans Kooijmans, who will retire at the end of 2026 after 30 years. Lagerwerf, an internal candidate, will initially assume the role of Vice‑President Finance & Operations EMEA and Industrial Business Groups from 1 January 2026 and will work closely with Kooijmans during a transition period; the board nomination will be presented to shareholders on 30 April. Management aims to return to annual organic gross profit growth of 6–7%, is considering share buybacks after the share price decline, and values the company using an expected EV/EBITA multiple of 10.0 for 2026. » Mere på de.investing.com