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Investing.com -- Azelis S.A. (BR:AZE) on Thursday reported a decrease in second-quarter EBITA of 11% to €114.8 million, in line with consensus expectations of €115.8 million, as the specialty chemicals distributor faced challenging market conditions.
The company posted flat organic revenue growth of -0.1% for the quarter, a slowdown from the 2.5% growth recorded in the first quarter of 2025. Performance varied significantly by region, with EMEA showing solid growth of 5.1% driven by both volume increases and favorable pricing.
However, this positive performance was offset by declines in other regions. The Americas saw a 3.2% drop, primarily in the personal care segment due to weaker consumer sentiment, while Asia Pacific experienced a more significant decline of 5.1%.
Profitability remained under pressure during the quarter, with gross margin falling 61 basis points to 23.7%, below consensus expectations of 24.4%.
This decline reflected a higher contribution from the Industrial Chemicals segment. EBITA margin decreased by 103 basis points to 10.8%, slightly above consensus of 10.7%, as the company faced increased costs in anticipation of a return to growth.
Despite these challenges, Azelis reported that its first-half free cash flow increased by 11% to €151.2 million. The company’s leverage ratio stood at 3.1x EBITDA, up from 2.9x in December 2024.
Azelis stated it is making good progress in aligning resources with end-market demand and expects to realize targeted cost-savings of €20 million in the second half of 2025.
In comparison, competitor IMCD (AS:IMCD) reported a 7% decrease in second-quarter EBITA to €133.2 million, which was 6% below consensus expectations of €141.7 million. IMCD’s organic revenue growth was 0.7%, also showing a slowdown from 4.2% in the first quarter.
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