(CercleFinance.com) – Imerys reported ‘solid’ first quarter results on Thursday and said it was seeing the first signs of a recovery in demand.
The industrial minerals specialist says it has seen its adjusted EBITDA increase by 9% to reach 188 million euros, driven by its cost-saving measures and lower costs.
For comparison, Oddo BHF analysts anticipated a result of 166 million.
Turnover reached 926 million euros, a drop of 5.3% year-on-year at constant scope and exchange rates, but the group nevertheless cites a ‘gradual’ recovery in its markets.
The turnover for the first quarter of 2024 is therefore 1% higher than that of the third quarter of 2023 and 4% higher than that of the fourth quarter.
“We believe we have turned a corner and expect a positive impact from the drop in interest rates in the second half of the year,” said its managing director Alessandro Dazza.
Imerys therefore says it expects a sequential improvement in sales volumes over the coming quarters, thanks to the stabilization of the European economy and the resilience of activity in the United States and Asia.
In their reaction note, Oddo BHF analysts speak of ‘the start of a long-awaited revival’, estimating that a ‘low point’ has now been reached.
With a gain of around 10%, the stock recorded the largest increase in the SBF 120 index on Thursday morning in the wake of this publication.
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