Imerys Sa · EURONEXT:NK
Imerys Sa — Imerys Sa Ord — Q3 2024 Earnings Presentation
23 slides from Imerys Sa's earnings presentation, Oct 30, 2024
Slide 1: 2024 First Nine Months and Third Quarter Results
2024 First Nine Months and Third Quarter Results October 30, 2024 Alessandro Dazza - Chief Executive Officer Sébastien Rouge - Chief Financial Officer April 30, 2024 | Imerys Q1 2024 Results
Slide 2: Disclaimer
Disclaimer More comprehensive information about Imerys may be obtained on its website (www.imerys.com), under Regulated Information, including its Universal Registration Document filed under No. D.24-0183 on March 26, 2024 with Autorité des Marchés Financiers. Imerys draws the attention of investors
Slide 3: Imerys Highlights, Financial Results, Outlook
Imerys Financial Highlights Outlook Results 3 October 30, 2024 | Imerys 2024 First Nine Months and Third Quarter Results
Slide 4: Highlights
Imerys Financial Highlights Outlook Results 4 October 30, 2024 | Imerys 2024 First Nine Months and Third Quarter Results
Slide 5: First nine months 2024 - Highlights
First nine months 2024 - Highlights(1) Current net income, Group Revenue Adjusted EBITDA Guidance confirmed share €2,773 million €532 million €214 million €670-690 million ● Solid third quarter revenue at ● Adjusted EBITDA in Q3 at ● Current net income from ● Guidance for full year 2024 €855 million
Slide 6: Q3 2024 - Solid organic growth driven by positive volumes and prices
Q3 2024 - Solid organic growth driven by positive volumes and prices Revenue (in € million) ● +4.1% organic growth in sales Q3 2024 vs Q3 2023, driven by: +4.1% organic ○ Positive volumes: +3.8% 910 growth ○ Rising prices: +0.3% 835 844 802 ● +0.1% revenue growth 9M 2024 vs 9M 2023, like-for-like, d
Slide 7: Adjusted EBITDA margin year-to-date above 19%
Adjusted EBITDA margin year-to-date above 19% Adjusted EBITDA (in € million) Change in pricing and costs vs prior and margin (as a % of revenue) year (€m) +12 +2 +14 ● Nine months 2024 adjusted EBITDA margin above 19% (+140 bps vs last -36 year), fuelled by: 19.2% -35 ○ Volume recovery 17.8% -24 ○ P
Slide 8: End-market trends in Q3 2024 (1/3)
End-market trends in Q3 2024 (1/3) Construction(1) Infrastructure and non-residential still benefit from strong government Construction investments while the residential sector in Europe and the US still suffering from Q1-24 vs Q2-24 vs Q3-24 vs high interest rates Q1-23 Q2-23 Q3-23 Europe -0% -0% +0%
Slide 9: End-market trends in Q3 2024 (2/3)
End-market trends in Q3 2024 (2/3) Automotive Light vehicle production (1) Weakness expected to continue Q1-24 vs Q2-24 vs Q3-24 vs ● Europe: stronger than expected drop and negative outlook for the rest of the Q1-23 Q2-23 Q3-23 year Europe -4% -6% -6% ● North America: destocking observed in Q3 even
Slide 10: End-market trends in Q3 2024 (3/3)
End-market trends in Q3 2024 (3/3) Industrial production (1) Industry & Equipment Q1-24 vs Q2-24 vs Q3-24 vs ● Europe: industrial production continuing to decrease, no rebound expected Q1-23 Q2-23 Q3-23 before Q1 2025 Europe -3% -2% -2% ● Industrial activity slightly slowing down in the US; rebound
Slide 11: Financial Results
Imerys Financial Highlights Outlook Results 11 October 30, 2024 | Imerys 2024 First Nine Months and Third Quarter Results
Slide 12: Sales variances first nine months 2024
Sales variances first nine months 2024 (€m) -3.2% -1.2% +0.9% -0.8% -4.4% Reported 2,900 -94 -36 +24 -21 2,773 Organic variation: +0.1% 2023 9M Perimeter Currencies Volumes Price 2024 9M revenue revenue 918 -83 -13 +31 +3 855 Q3 -9.1% -1.4% +3.8% +0.3% -6.9% 12 October 30, 2024 | Imerys 2024 First Ni
Slide 13: Performance Minerals
Performance Minerals Like-for-like Consolidated amount Like-for-like Q3 2023 Q3 2024 9M 2023 9M 2024 change (€ millions) change 255 224 +11.6% Revenue Americas 788 768 +5.4% Revenue Europe, Middle East and Africa and 339 308 +5.7% Asia-Pacific 1,086 1,035 +0.4% -30 -18 - Eliminations -92 -89 - 564 51
Slide 14: Solutions for Refractory, Abrasives & Construction
Solutions for Refractory, Abrasives & Construction Like-for-like Consolidated amount Like-for-like Q3 2023 Q3 2024 9M 2023 9M 2024 change (€ millions) change 297 284 -1.4% Revenue Refractory, Abrasives & Construction 944 904 -1.6% ● Volumes: ○ Low industrial activity in Europe, partially offset by a
Slide 15: Solutions for Energy Transition
Solutions for Energy Transition Like-for-like Consolidated amount Like-for-like Q3 2023 Q3 2024 9M 2023 9M 2024 change (€ millions) change 58 57 -1.1% Revenue Graphite & Carbon 175 159 -8.9% ● Graphite & Carbon: ○ Lithium-ion batteries market growth and market share gains ○ Some price adjustments ●
Slide 16: Adjusted EBITDA at €532 million (+3% vs last year) for 9M 2024
Adjusted EBITDA at €532 million (+3% vs last year) for 9M 2024 (€m) +3.0% +77 +7 532 +23 517 +12 -21 -42 -16 -25 17.8% Adjusted EBITDA margin 19.2% 9M 2023 Perimeter Currencies Volumes Price Variable Fixed Share in net Change 9M 2024 Adjusted costs costs and income of in inventories Adjusted EBITDA
Slide 17: Improved current profitability metrics
Improved current profitability metrics (€m) 9M 2023 9M 2024 Change Adjusted EBITDA 517 532 +3.0% Current operating income 300 330 +9.8% Current financial expenses (33) (39) - Current income tax (72) (73) - Minority interests (3) (4) - Current net income from continuing operations, Group share 192 214
Slide 18: Outlook
Imerys Financial Highlights Outlook Results 18 October 30, 2024 | Imerys 2024 First Nine Months and Third Quarter Results
Slide 19: Outlook
Outlook With a proven track record of resilience in challenging environments, a diversified portfolio of specialty minerals and a global geographical footprint, Imerys is able to confirm its adjusted EBITDA target of between €670 to 690 million for 2024 19 October 30, 2024 | Imerys 2024 First Nine Mon
Slide 20: Appendix
Imerys APPENDIX 20 October 30, 2024 | Imerys 2024 First Nine Months and Third Quarter Results
Slide 21: Q3 Net income
Q3 Net income (€m) Q3 2023 Q3 2024 Revenue 918 855 (2) of which perimeter 94 - Adjusted EBITDA 172 148 of which share of net income from JVs 23 5 of which perimeter(2) 17 - Current operating income 82 77 Current financial expenses (8) (12) Current income tax (20) (23) Minority interests (1) (2) Curre
Slide 22: Glossary
Glossary Alternative Performance Definitions and reconciliation to IFRS indicators Measures Growth at constant scope and • Calculated by stripping out the impact of currency fluctuations as well as acquisitions and disposals (scope effect). exchange rates (also called • Restatement of the currency effec
Slide 23: Thank you for your attention
Thank you for your attention Visit www.imerys.com for more information. Or connect with us: www.linkedin.com/company/imerys/ 23 October 30, 2024 | Imerys 2024 First Nine Months and Third Quarter Results