Report
Sven Edelfelt

Imerys : Good news, the group has restored growth

>EBIT above forecasts in Q4 > 40% and over the FY >10% - Q4 EBIT came in at € 89m vs. ODDO BHF at € 62m, up 10% and the consensus at € 67m (€ 299m over 2020 vs € 272m for ODDO BHF and € 277m for the consensus). EBITDA was virtually stable at € 177m in Q4. Over the year, EBITDA was down 17.4% to € 631m, penalised by the decline in the contribution from volumes (-€ 244m), partly offset by a positive price/mix effect (€ 33m), variable costs (€ 13m), a fixed cost/inflati...
Underlying
Imerys SA

Imerys is engaged in the production and the processing of minerals. Co.'s operations can be divided into four business groups: Minerals for Ceramics, Refractories, Abrasives and Foundry (minerals mainly for floor tiles, sanitaryware, porcelain, mobile energy as well as high-temperature and abrasive industries); Performance and Filtration Minerals (plastics, rubber, coatings, sealants and adhesives, health, beauty and filtration of nutrition liquids); Pigments for Paper (filler and coating products for paper) and Materials and Monolithics (construction materials in clay and slate and monolithic products and solutions for high-temperature industries).

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Sven Edelfelt

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