Imerys Reports Strong First Quarter 2024 Financial Results

PARIS, APRIL 30, 2024 - Imerys announced a positive start to 2024 with its first quarter results showcasing a 9% increase in adjusted EBITDA. The company reported revenue of €926 million, despite a drop from last year’s €997 million in Q1. This downturn in revenue is attributed to decreased activity in the residential construction and industrial markets, mainly in Europe. However, the United States and China have exhibited more resilience, with the latter showing signs of improvement.

The company’s adjusted EBITDA reached €188 million, up from €172 million in the prior year, fueled by effective cost management, robust joint venture performance, and lower input costs. These factors have helped maintain a positive price/cost balance, underscoring the strength of Imerys’ business model. Net income for the group shared from continuing operations rose by 23.6% to €83 million. Despite these gains, overall net income decreased by 32.2% to €69 million due to the discontinuation of certain activities.

Looking ahead, Imerys is positioned for further growth with a focus on strategic initiatives like the creation of its new business area, “Solutions for Energy Transition”, and acquiring Chemviron’s European diatomite and perlite business. These steps are part of a broader strategy to enhance their offerings in natural solutions for consumer goods and to capitalize on the growing demand for sustainable and innovative products.