Report
Sven Edelfelt

Imerys : Se satisfaire du nécessaire mais ne pas se contenter du minimum

>Résultat opérationnel T4 2019 en dessous mais bon niveau de cash - Le résultat opérationnel T4 2019 ressort à 81 M€ (-41.4%) vs ODDO BHF et le consensus à 90 M€ (soit 10% en dessous). Au T4, le recul du résultat opérationnel est plus marqué que celui observé au T3 (-41% après -20%). La marge ressort à 8,0% en baisse de 420 pb au T4 après -180 pb au T3. Sur l’année, le ROP atteint 439 M€ soit 2% en dessous des attentes en baisse de 21.9% (voir tableau en page 2)....
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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