• Adjusted EBITDA (Q3): EUR148 million, reflecting the disposal of assets serving the paper market and lower joint venture contributions.

• Adjusted EBITDA (First Nine Months): EUR533 million, up 3% versus last year, with a margin of 19.2%.

• Revenue (First Nine Months): EUR2.8 billion, showing positive organic growth.

• Volume Growth (Q3): Up 3.8% versus last year.

• Price Increase (Q3): Up 0.3% versus last year.

• Current Net Income (First Nine Months): EUR214 million, up versus last year.

• Performance Minerals (Americas): 11.6% organic growth in Q3.

• Performance Minerals (EMEA and APAC): EUR308 million in Q3, with 5.7% organic growth.

• Solutions for Refractory, Abrasive, and Construction (Q3): EUR284 million, slight decrease like-for-like.

• Graphite and Carbon Business (Q3): 1% negative variation, but improved sequentially by 7% compared to Q2 2024.

• Cost Savings Programs: EUR93 million of gross savings since the beginning of the year, a 3.5% improvement in cost base.

• Full Year 2024 Adjusted EBITDA Guidance: Between EUR670 million and EUR690 million.

• Warning! GuruFocus has detected 4 Warning Signs with IMYSF.

Release Date: October 30, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive 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.

Negative Points

• 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.