Q3 2024 Imerys SA Earnings Call Transcript
Key Points
- Imerys (IMYSF) reported a strong quarter with a 3.8% increase in volumes, driven by demand for Specialty Minerals and market share gains.
- The company achieved a positive pricing trend in Q3, reversing previous declines, with prices up 0.3% compared to last year.
- Adjusted EBITDA for the first nine months reached EUR 533 million, up 3% from last year, with a solid margin of 19.2%.
- Performance Minerals segment in the Americas showed an 11.6% organic growth in Q3, benefiting from strong volumes and market share gains.
- Imerys (IMYSF) confirmed its full-year 2024 adjusted EBITDA guidance between EUR 670 million and EUR 690 million, reflecting confidence in its operational performance.
- The disposal of assets serving the paper market resulted in a perimeter effect, impacting revenue by minus EUR 83 million in Q3.
- Weakness in the automotive and industrial markets, particularly in Europe, continues to be a concern, with a negative outlook for the rest of the year.
- The graphite and carbon business posted a 1% negative variation in Q3, highlighting competitive pressures and price adjustments.
- The company faces challenges in the construction sector, with residential markets remaining subdued, particularly in Europe.
- Imerys (IMYSF) is cautious about the macroeconomic environment, citing geopolitical uncertainties and potential impacts on consumer confidence and investment.
Good day, and thank you for standing by. Welcome to the Imerys 2024 first nine months and third-quarter results. (Operator Instructions) please advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Alessandro Dazza CEO. Please go ahead.
Good evening to all of you. Sorry for my low voice, impacted by the weather in Paris. Thank you for joining us tonight to review Imerys Q3 and first nine months 2024 results. Next to me, this evening as usual, Sebastien Rouge, our CFO. And as usual, please let me start with some highlights of the quarter we just closed.
I would say, a strong quarter for Imerys. Demand for our Specialty Minerals was up, thanks also to good market share gains resulting in volumes and revenue growth compared to last year. Net of perimeter effect, and I remind you that the beginning of July, we divested our assets serving the paper market. So net of this effect, volumes
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