Imerys Sa · EURONEXT:NK
Imerys Sa — Imerys Sa Ord — Q3 2023 Earnings Presentation
21 slides from Imerys Sa's earnings presentation, Oct 30, 2023
Slide 1: Nine Months and Third Quarter 2023 Results
Nine Months and Third Quarter 2023 Results October 30, 2023 Alessandro Dazza - Chief Executive Officer Sébastien Rouge - Chief Financial Officer
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.23-0127 on March 22, 2023 with Autorité des Marchés Financiers. Imerys draws the attention of investors
Slide 3: Agenda: Highlights, Financial Results, Outlook
Imerys Financial Highlights Outlook Results 3 October30, October 30,2023 2023| |Imerys Imerys9 9months monthsand andthird thirdquarter quarter2023 2023Results Results
Slide 4: Highlights
Imerys Financial Highlights Outlook Results 4 October30, October 30,2023 2023| |Imerys Imerys9 9months monthsand andthird thirdquarter quarter2023 2023Results Results
Slide 5: Q3 2023 Highlights
Q3 2023 Highlights Current EBITDA (€m) and margin (%) ● Third quarter revenue of €918 million and first nine months revenue of €2.9 billion reflecting challenging global macroeconomic conditions ● Resilient third quarter current EBITDA margin at 16.4%, in line with first semester 2023 performance, bene
Slide 6: End-markets trends in Q3 2023 (1/3)
End-markets trends in Q3 2023 (1/3) Construction(1) Construction Q2-23 Q3-23 ● Infrastructure and non-residential positively oriented vs. Q2-22 vs. Q3-22 ● Residential construction severely impacted by higher Europe +1% +2% interest rates and credit tightening in Europe and America North Am. -3% +2%
Slide 7: End-markets trends in Q3 2023 (2/3)
End-markets trends in Q3 2023 (2/3) Automotive Light vehicle production (1) Q2-23 Q3-23 ● Weakening consumer demand (high prices and credit vs. Q2-22 vs. Q3-22 tightening) impacting prospects for the industry industry globally Europe +17% +6% ● Order backlog and inventory rebuilding in Europe and US
Slide 8: End-markets trends in Q3 2023 (3/3)
End-markets trends in Q3 2023 (3/3) Industrial production (1) Industry & ● Weak demand in Europe: Eurozone PMI index at 46.5, its 35 Equipment Q2-23 Q3-23 months low vs. Q2-22 vs. Q3-22 Europe -1% -2% ● High interest rates and energy costs impacting investments and North Am. +0% -0% overall economic
Slide 9: Financial Results
Imerys Financial Highlights Outlook Results 9 October30, October 30,2023 2023| |Imerys Imerys9 9months monthsand andthird thirdquarter quarter2023 2023Results Results
Slide 10: 9M 2023 Sales variance
9M 2023 Sales variance (M€, % change vs prior year period) -0.9% -1.8% -13.3% +4.8% -11.0% Reported 3,258 -30 -58 -422 +152 2,900 Like-for-like change: -8.5% 9M 2022 Perimeter Currencies Volumes Price 9M 2023 revenue revenue Q3 1,116 -2 -44 -152 0 918 -0.2% -4.0% -14.2% 0.0% -17.8% 10 October30, Oct
Slide 11: Performance Minerals
Performance Minerals Q3 2022 Q3 2023 like for like Revenue 9M 2022 9M 2023 like for like change vs. (€m) change vs. Q3 2022 9M 2022 317 246 -17.5% Americas 875 760 -10.3% 353 284 -18.3% EMEA 1,012 916 -8.2% 153 130 -8.0% APAC 444 396 -5.0% (67) (38) - Eliminations & others (175) (114) - 756 622 -13.
Slide 12: High Temperature Materials and Solutions
High Temperature Materials and Solutions Q3 2022 Q3 2023 like for like Revenue 9M 2022 9M 2023 like for like change vs. Q3 (€m) change vs. 9M 2022 2022 Refractory, Abrasives, Construction 362 297 -13.5% 1,105 944 -12.7% (RAC) - - - Elimination & others - 1 - 362 297 -13.6% Total segment revenue 1,10
Slide 13: Current EBITDA margin of 16.6% for the first nine months of 2023
Current EBITDA margin of 16.6% for the first nine months of 2023 (M€, % change vs prior year period) -15.4% 568 +151 +12 481 +10 -5 -8 -41 -206 17.4% Current EBITDA margin 16.6% 9M 2022 Perimeter Currencies Volumes Price-Mix Variable Fixed Change 9M 2023 Current costs costs and in inventories Current
Slide 14: 9 months Net income
9 months Net income (€m) 9M 2022 9M 2023 Change y-o-y Current EBITDA 568 481 -15.4% Current operating income 346 300 -13.2% Current financial expenses (36) (33) - Current income tax (84) (72) - Current tax rate 27.0% 27.0% - Minority interests (5) (3) - Current net income from continuing operations 2
Slide 15: Outlook
Imerys Financial Highlights Outlook Results 15 October30, October 30,2023 2023| |Imerys Imerys9 9months monthsand andthird thirdquarter quarter2023 2023Results Results
Slide 16: Outlook
Outlook ● First nine months results demonstrating the adaptability of Imerys’ business model during periods of significant uncertainty ● Confidence in our ability to further increase cash and cost savings with initiatives deployed throughout the Group ● Low end of current EBITDA guidance range of €630
Slide 17: Appendix
Imerys APPENDIX 17 October30, October 30,2023 2023| |Imerys Imerys9 9months monthsand andthird thirdquarter quarter2023 2023Results Results
Slide 18: Current operating income (COI)
Current operating income (COI) (M€, % change vs prior year period) Reported 346 -4 -4 -13.2% -206 +151 +41 300 -36 +12 346 10.6% COI margin 10.3% 9M 2022 Perimeter Currencies Volumes Price-mix Variable Fixed Change 9M 2023 COI costs costs and in inventories COI overheads and other 18 October30, Octo
Slide 19: Q3 Net income
Q3 Net income (€m) Q3 2022 Q3 2023 Change y-o-y Current EBITDA 193 150 -22.2% Current operating income 118 82 -30.4% Current financial expenses (17) (8) - Current income tax (27) (20) - Current tax rate 27.0% 27.0% - Minority interests (2) (1) Current net income, Group share 72 53 -25.8% Other operat
Slide 20: Glossary
Glossary Alternative Performance Definitions and reconciliation to IFRS indicators Indicators 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 eff
Slide 21: Thank you for your attention
Thank you for your attention Visit www.imerys.com for more information. Or connect with us: @imerys www.linkedin.com/company/imerys/ www.facebook.com/imerysgroup/ 21 October October July 30,2023 27, 2021 30, |2023 | |Imerys ImerysImerys9 9months first halfmonths andthird thirdquarter 2021 Results and