(Boursier.com) — The turnover ofImerys over the first 9 months of 2023 amounted to 2.9 billion euros, a decrease of -8.5% compared to the same period of last year, at constant scope and exchange rates (3,258 MdsE).
The Group’s sales volumes fell by -13.3%, due to the weakness of its main end markets, the continued destocking of its customers due to a lack of visibility on the economic recovery, and increased competition in certain geographic areas. The price effect of Imerys was positive over the first 9 months, thanks to the on-board effect of the price increases that occurred last year and the targeted actions carried out in 2023.
Imerys maintains a current Ebitda margin close to 17% over the first 9 months, supported by the drop in variable costs, in particular energy and freight, fixed costs also falling despite inflation, and the contribution of the dividend from joint ventures and associated companies.
Net current income from continuing activities, Group share, amounted to €192 million for the first 9 months of 2023, down -13.1% compared to last year. The net financial result stands at -33 ME. The tax charge, of €72 million, corresponds to an effective tax rate of 27.0%. Net current income from current activities came to 2.27 euros per share.
Net profit, Group share at the end of September reached 184 ME, down -4.9% compared to the same period last year.
Outlook
Imerys’ results for the first 9 months of the year demonstrate that the economic model continues to demonstrate its adaptability in periods of high uncertainty. “We are confident in our ability to generate further cash flow and cost savings, thanks to the initiatives currently being deployed across the Group,” says Imerys.
Subject to a stable economic situation, the company plans to be located at the bottom of the range of its current Ebitda forecast of between 630 and 650 MEannounced on July 27.