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IMCD reports 2025 EBITA decline despite revenue growth and acquisitions
IMCD has released its financial results for 2025, reporting a 6 % decrease in operating EBITA to EUR 498 million. While revenue grew by 5 % on a constant currency basis, challenging macroeconomic conditions and foreign exchange impacts affected profitability.
IMCD, a global distributor of speciality chemicals and ingredients, has announced its full-year 2025 financial results. The company reported revenue of EUR 4,779 million, representing a 5 % increase on a constant currency basis compared to 2024. However, operating EBITA dropped by 6 % to EUR 498 million, with net earnings declining by 22 % to EUR 217 million. The results reflect a challenging economic environment, including geopolitical instability, inflationary pressures, and adverse foreign exchange movements.
The company attributed its revenue growth to a combination of organic developments (1 %) and the positive impact of seven acquisitions completed across all regions in 2024 and 2025 (4 %). Negative foreign currency effects, however, reduced revenue growth by 3 %. Despite these headwinds, IMCD saw a 3 % increase in free cash flow to EUR 465 million and maintained its asset-light business model with minimal capital expenditure.
Regional performance and acquisitions
In its three core regions—EMEA, the Americas, and Asia-Pacific—IMCD experienced mixed performance. EMEA was the strongest performer, with revenue growth of 4 % to EUR 2,078 million, driven by organic growth and acquisitions. However, operating EBITA in the region fell by 5 % to EUR 230 million due to margin pressure. The Americas and Asia-Pacific regions reported revenue declines of 1 % and 2 %, respectively, reflecting softer demand and unfavourable currency impacts.
IMCD completed seven acquisitions in 2025, including Ferrer Alimentación and TECOM in Spain, YCAM in South Korea, and Daoqin in China. These acquisitions contributed to revenue and provided access to new markets and product segments, particularly in coatings, food, and personal care.
Outlook and challenges ahead
While IMCD remains optimistic about its growth trajectory, CEO Marcus Jordan acknowledged the difficulties faced in 2025: “After a good first quarter, the following quarters of 2025 were challenging amid macroeconomic conditions, tariff uncertainty, and geopolitical unrest.” Despite these challenges, the company’s strategy of diversification and acquisitions helped mitigate some of the adverse effects.
Looking ahead, IMCD emphasised its commitment to strengthening commercial relationships, expanding its product portfolio, and leveraging its digital and logistical infrastructure to maintain resilience. However, the company noted that macroeconomic and political uncertainties could continue to impact its performance in 2026.
IMCD plans to release its 2026 first-quarter results on 30 April 2026.
