Imerys : Take what is necessary, not the minimum
>Q4 2019 operating income below expectations, but a good level of cash - Q4 2019 operating income was € 81m (-41.4%) vs € 90m for ODDO BHF and the consensus (10% below). In Q4, the drop in operating profit was more marked than in Q3 (-41%, after -20%). The margin was 8.0%, down 420bp in Q4 after -180bp in Q3. Over the year, operating profit totalled € 439m, 2% below expectations, down 21.9% (see table page 2). Recurring net income came to € 277m, down 22.4% (gui...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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