Q1 2025 Imerys SA Earnings Call Transcript
Key Points
- Imerys (IMYSF) achieved a 0.7% organic growth in Q1 2025, marking the fourth consecutive quarter of growth.
- The adjusted EBITDA increased by about 4% year on year, reaching EUR128 million, driven by strong performance in the performance minerals and graphite and carbon businesses.
- Imerys (IMYSF) reaffirmed its commitment to sustainability by issuing its first biodiversity report and signing a major power purchase agreement in the United States.
- The company experienced strong growth in sales of electric vehicles, where it holds a solid market position.
- The graphite and carbon business showed a robust recovery, with a 22.5% increase in revenue, driven by demand in electric vehicles and conductive polymers.
- Group volumes slightly declined due to weakness in the construction market and a significant slowdown in the industrial and automotive sectors in Europe.
- The contribution from joint ventures deteriorated compared to an exceptional performance in Q1 2024.
- The solutions for refractory, abrasive, and construction business faced volume decreases, particularly due to lower sales of refractory products impacted by low industrial activity in Europe.
- The overall profitability was affected by the perimeter effect from the disposal of paper market assets and the lower contribution from joint ventures.
- The automotive market outlook remains negative, with production risks due to tariffs and a weak performance in Europe.
Good day and thank you for standing by. Welcome to the Imerys Q1 2025 results webcast and conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to send the conference over to your first speaker today, Alessandro Dazza, CEO. Please go ahead.
Good evening to all of you and thank you for joining us today to review Imerys Q1 2025 results. With me here tonight, Sébastian Rouge, our CFO. As usual, let me start by giving you some highlights of the first quarter of the year.
Imerys continues on its growth path despite an uncertain environment and weak industrial markets, especially in Europe. First quarter revenue reached EUR871 million, which is a 0.7% organic growth at constant scope and exchange rate versus the first quarter of last year. This is the fourth consecutive quarter of organic growth.
The adjusted EBITDA for the period amounted to EUR128 million benefiting from an improved
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