Imerys : Good quality Q4 2021, now the next stage and nothing else
>Q4 EBITDA >5% vs the consensus (FY >1%) - Q4 2021 EBITDA stood at € 167m (-5.9%) vs € 159m for ODDO BHF and the consensus (>5%). For FY 2021, EBITDA came to € 761m, a shade above the range announced in Q3 of € 735-755m. As expected, Imerys has not yet fully passed on energy costs to end-clients. The group’s strong pricing power should turn things around as of Q1 2022. The Q4 EBITDA margin was 14.9%, down 320bp after -45bp in Q3, +544bp in Q2 and +130bp in Q1. Underly...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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