IMCD jumps as Q2 EBITA beats estimates, organic growth picks up

IMCD

02/08/2024 09:18

** Shares IMCD  IMCD.AS  jump around 8% to 1-1/2 month high
after the Dutch specialty chemicals maker's Q2 EBITA came in
above expectations
    ** EBITA was 6% ahead of Visible Alpha consensus, as organic
revenue decline decelerated to 0.3% in Q2 from 7.3% in Q1,
Jefferies says
    ** "These results confirm our view that organic performance
will gradually move towards positive levels during this year,"
says Degroof Petercam in a note 
    ** J.P.Morgan points to the EBITA beat due to higher M&A
contribution
    ** Stock is at the top of Amsterdam's AEX index  .AEX  and
among top movers on Europe-wide STOXX 600  .STOXX  index; if
gains hold it will see its best day since October



($1 = 0.9262 euros)

 (Reporting by Clement Martinot)
 ((Clement.martinot@tr.com))