Imerys : Un T1 qui ne fera pas date…
>Résultat opérationnel ~10% en dessous de nos attentes - Le résultat opérationnel T1 2019 ressort à 109.6°M€ (-13,1%) vs ODDO BHF à 126°M€ (122°M€ hors activités Talc US). Au T1, le recul du résultat opérationnel est largement supérieur à celui observé au T4 et au T3 (environ -3%). La marge ressort à 9.8% en baisse de 170 pb au T1 après 40 pb au T4 2018 et -100 pb au T3. Le groupe a souffert des problèmes dans sa mine américaine de wollastonite (3 M€), déconsolidation...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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