Imerys : Prepare for the worst and hope for the best
>Q4 2019 preview: marked by the destocking effect - Q4 will likely mark a low point in volumes due to the destocking effect. We forecast a 9.2% decline in volumes in Q4 2019, after -6.9% in Q3 and -4.8% in Q2. Destocking accounts for the lion’s share of the acceleration in the decline in volumes, on our estimates. This should be accompanied by a possible restocking effect in Q1 2020. The price effect is expected to increase by 1.7%, in line with that observed in Q3. B...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).
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.
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