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. » Altro su 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. » Altro su 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. » Altro su de.investing.com