Imerys Reports Strong Nine-Month Performance in 2024

Imerys has announced a solid performance in the first nine months of 2024, confirming its adjusted EBITDA guidance for the year. The company's revenue reached €855 million in the third quarter, marking a 4.1% increase at constant scope and exchange rate. Despite disposing of paper market assets and decreased joint-venture contributions, adjusted EBITDA was €148 million. Overall sales grew organically by 0.1%, with volumes recovering in Q2 and Q3, and net income from continuing operations increased by 11% to €214 million.

CEO Alessandro Dazza highlighted the volume recovery across markets, including a robust performance in the US and slight recovery in Europe, as key to maintaining profitability despite challenges in the European automotive sector. Imerys aims to continue improving financial performance amid market challenges.

For Q3 2024, revenue fell by 6.9% to €855 million, while adjusted EBITDA decreased by 13.9%. Continual net income improvements were partly offset by a translation reserve loss due to currency devaluation linked to the divested paper market assets. Full-year adjusted EBITDA is expected to be between €670 and €690 million.