Imerys : Q2 in line and an improvement in view
>Operating profit in line with our forecasts - Q2 operating profit came in at € 50m vs our forecast of € 45m and H1 at € 132.1m, down 46.1% vs our forecast of € 127m (no consensus). In H1, the fall in operating profit was mainly due to the drop in volumes (-€ 183.7m), the price-mix effect (€ 16.7m), fixed-variable costs (€ 8m) and forex (€ 9.3m). The operating margin was 5.7%, down 620bp in Q2 after -170bp in Q1 and -420bp in Q4 2019. The decline in fixed/variable cos...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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