[ID] => 9472
[post_author] => 288
[post_date] => 2018-04-13 08:39:25
[post_date_gmt] => 2018-04-13 07:39:25
[post_content] => Netherlands-headquartered IMCD has further expanded its technical capabilities in Asia with the addition of two new coatings and construction laboratories in Tangerang, Indonesia and Petaling Jaya, Malaysia. The primary focus of these new labs, the company says, "will be to support customers and suppliers, offering formulation guidance, innovative solutions to overcome technical challenges, and product performance testing". As such, they "are fully equipped with the necessary apparatus for testing and formulation development" and together bring the company's total number of labs around the world to 39.
"IMCD is delighted to launch these coatings and construction application laboratories in Indonesia and Malaysia," says Philippe Russo, IMCD Asia's regional director, south-east Asia (SEA). "These facilities will allow us to build on the technical service we deliver to our partners in the SEA region and will provide us with the means to fully explore and showcase the synergies between the top quality raw materials of our principals. The labs will also assist us in training the IMCD coatings and construction sales force in Indonesia, Malaysia and the surrounding regions to further develop their skills and knowledge."
The news comes shortly after IMCD announced a 2017 net result before amortisation and non-recurring items of €110.1m, up 7 per cent from the €102.6m achieved the previous year, from revenues of just over €1.9bn, themselves up 11 per cent from €1.7bn. Meanwhile, the company's gross profit rose 12 per cent, to reach €428.7m from €381.6m, while operating EBITDA increased by 9 per cent, coming in at €161.7m from €147.8m. "IMCD has delivered another year of significant growth, which is the result of our focus on operational excellence, acquisitions and a favourable economy," says CEO Piet van der Slikke.
Thanks in part to what the company calls "more positive macroeconomic market circumstances", its operations in Europe, the Middle East and Africa were able to up their revenues by 8 per cent to €1.1bn. At the same time, gross profit increased 10 per cent, from €248.8m to €274.2m, with operating EBITDA rising 12 per cent to €112.6m from €100.8m. However, in Asia Pacific, where "market circumstances were characterised by substantial differences between the countries", revenues, gross profit and operating EBITDA all remained largely static at, respectively, €314.9m, €65.2m and €28.1m. Nevertheless, the company notes that while its activities in India and China are "small compared to the size of the markets", they "are developing well and growing nicely".
A more robust picture emerged in the Americas, where IMCD successfully upped its revenues by 31 per cent, from €344m to €450.7m. Gross profit, meanwhile, jumped 30 per cent to €89.4m from €68.9m while operating EBITDA rose by 12 per cent, coming in at €35.5m from €31.6m. This growth was primarily driven through acquisitions, particularly that of Toronto-headquartered LV Lomas, which added six locations across Canada and the US and which in 2016 had generated revenues of C$383m (€246.1m). "The acquisition of LV Lomas in Canada and the US is an important step in realising our strategy in this region," van der Slikke states. "With Lomas, we entered the Canadian market and we expanded our footprint in the US, both geographically and in important life science market segments, in particular food."
[post_title] => IMCD: Open a door, close a book
[post_status] => publish
[comment_status] => open
[ping_status] => open
[post_name] => imcd-open-a-door-close-a-book
[post_modified] => 2018-04-13 08:41:20
[post_modified_gmt] => 2018-04-13 07:41:20
[post_parent] => 0
[guid] => https://www.hcblive.com/?p=9472
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