Imerys Sa · EURONEXT:NK
Imerys Sa — Q1 2018 Earnings Presentation
24 slides from Imerys Sa's earnings presentation, Apr 27, 2018
Slide 1: Q1 2018 Results
Q1 2018 Results April 27, 2018 Gilles MICHEL - Chairman & CEO Olivier PIROTTE - CFO
Slide 2: Disclaimer
Disclaimer More comprehensive information about Imerys may be obtained on its website (www.imerys.com), under Regulated Information, including its Registration Document filed under No. D.18-0150 March 20, 2018 with Autorité des Marchés Financiers. Imerys draws the attention of investors to the “Risk
Slide 3: Presentation of Q1 2018 Results
Presentation of Q1 2018 Results 1 Results 4 2 Outlook 13 3 Appendix 15
Slide 4: Results
1 Results
Slide 5: Good operational performance in first quarter 2018
Good operational performance in first quarter 2018 Revenue (€m) + 4.2% like-for-like(1) revenue growth + 8.5% 1,208 1,038 1,113 + 8.5% revenue growth on current basis, sustained by external growth Q1 16 Q1 17 Q1 18 Current operating income (2) up + 4.8% Current operating income (€m) + 15.1%
Slide 6: + 4.2% top-line growth
+ 4.2% top-line growth Still well oriented market (€m) environment… …but volumes (+ 1.2%) impacted + 11.6% - 7.3% + 4.2% + 8.5% by adverse weather conditions in Volumes: + 1.2% several regions Price-mix: + 3.0% Kerneos + 108 Firm price-mix in all business groups + 21 (81) + 46 Other + 129 Si
Slide 7: + 4.8% growth in current operating income
+ 4.8% growth in current operating income (€m) - 8.9% + 15.1% excluding FX + 4.8% + 38 34 + 7 Volumes + 14 + 31 Price-mix +4 (19) 147 (17) 154 (13) 134 13.2 % 13.0 % Operating margin 12.8 % Q1 17 FX Q1 17 excl. FX Perimeter Scope Volumes and Variable Costs Fixed Costs & Change in Q1 18 price mix Ove
Slide 8: Energy Solutions & Specialties (27% of revenue)
Energy Solutions & Specialties (27% of revenue) Revenue (€m) - 0.6 % Exchange rates - 7.4% 301 322 320 Group structure + 1.9% LFL + 4.9% Q1 16 Q1 17 Q1 18 Carbonates: firm level of activity in Revenue by division Asia, exploitation conditions impacted 1% by adverse weather conditions in the Carbon
Slide 9: Filtration & Performance Additives (26% of revenue)
Filtration & Performance Additives (26% of revenue) Revenue (€m) + 3.3 % Exchange rates - 7.5% 278 312 323 Group structure + 5.0% LFL + 5.8% Q1 16 Q1 17 Q1 18 Globally positive market Revenue by division momentum Performance additives Performance Additives: 34% 40% quarterly activity impacted by
Slide 10: Ceramic Materials (23% of revenue)
Ceramic Materials (23% of revenue) Revenue (€m) 323 311 - 7.8 % 287 Exchange rates - 6.7% Group structure + 0.1% LFL - 1.2% Q1 16 Q1 17 Q1 18 Kaolin Revenue by division Lower volumes despite development in specialty applications Roofing 41% 28% Unfavorable impact of BRL Ceramics evolution 31%
Slide 11: High Resistance Minerals (24% of revenue)
High Resistance Minerals (24% of revenue) Revenue (€m) + 65.1% 304 Exchange rates - 7.4% 184 Kerneos 148 Group structure + 62.1% LFL + 10.3% Q1 16 Q1 17 Q1 18 Significant scope effect due to Kerneos in particular Revenue by division and Zhejiang Significant pressure on some raw Fused Minerals 35
Slide 12: Net income from current operations up by + 11.8%
Net income from current operations up by + 11.8% (€m) Q1 2017 Q1 2018 Variation Current operating income 147.2 154.2 + 4.8% Current financial expense (25.8) (19.6) - Current income tax (35.8) (39.0) - Current tax rate 29.5% 29.0% - 0.5 point Minority interests (0.2) (0.3) - Net income from
Slide 13: Outlook
2 Outlook
Slide 14: 2018 outlook: another year of increase in net income from current operations
2018 outlook: another year of increase in net income from current operations Context Demand still well oriented in most of our markets and geographies Dollar weakness and currency volatility Pressure on some costs (raw materials, energy, logistics) Performance levers Full year contribution o
Slide 15: Appendix
3 Appendix
Slide 16: Revenue and Current Operating Income by quarter
Revenue and Current Operating Income by quarter Revenue (€m) Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Energy Solutions & Specialties 312.5 323.5 314.1 303.0 300.8 316.2 319.6 314.0 321.6 332.0 338.7 334.3 319.7 Filtration & Performance A
Slide 17: Revenue and Current Operating Income by semester
Revenue and Current Operating Income by semester Current Operating Income (€m) H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 Energy Solutions & Specialties 77.5 65.7 67,9 60,2 72,1 77,5 64,4 55,3 67,0 62,9 68,8 72.3 Filtration & Performance Additives
Slide 18: Evolution of price-mix and variable costs
Evolution of price-mix and variable costs Impact of price-mix on current net income Increase (decrease) in variable costs Price-mix impact (€m) on revenue (%) 2017 37 + 1.1 % 10 2016 21 + 0.7 % (34) 2015 35 + 1.3 % (20) 2014 45 + 1.5 % 5 2013 37 + 1.2 % 1 2012 109 + 3.3 % 71 2011 154 + 4.4 % 91 18 A
Slide 19: Revenue breakdown
Revenue breakdown Revenue by geography in Q1 2018 Revenue by end-market (2017) 11% 5% 22% 6% 29% 6% 44% 6% 14% 10% 13% 12% 22% Western Europe (of which France: 11% and Germany: 11%) New building and renovation Current consumption Paper Iron & steel U.S.A/ Canada Automotive Roofing (France) Emerging
Slide 20: Energy Solutions & Specialties
Energy Solutions & Specialties Q1 2018 Revenue by geography Carbonates Natural (GCC) and Precipitated (PCC) Calcium Carbonates used as filling or coating pigment for paper production and 8% functional additives for paints, plastics, etc.. 34% Monolithic Refractories Unshaped refractory mater
Slide 21: Filtration & Performance Additives
Filtration & Performance Additives Q1 2018 Revenue by geography Performance Additives 3% Additives for paints, plastics, polymers, rubbers, adhesives, sealants, pharma & personal care (mainly talc, mica and wollastonite, etc.) 24% 42% Filtration Filtration minerals providing filter aid for e
Slide 22: Ceramic Materials
Ceramic Materials Q1 2018 Revenue by geography 3% Roofing 21% Clay roof tiles in France 61% Ceramics 15% Raw materials and bodies for tableware, sanitary and floor tiles, quartz, technical ceramics Kaolin Kaolin for applications in the paper, paints, plastics, ceramics and refractories m
Slide 23: High Resistance Minerals
High Resistance Minerals Q1 2018 Revenue by geography Fused Minerals Fused alumina and bauxite for abrasives 6% (cutting, grinding and polishing mills, sandpapers), zirconium for refractories, oxygen sensor 31% 42% Aluminates Binders and additives for soil preparation 21% mortars, self-level
Slide 24: Imerys
Imerys 43 Quai de Grenelle Investor Relations 75015 PARIS Vincent GOULEY + 33 (0)1 49 55 63 00 + 33 (0)1 49 55 64 69 www.imerys.com vincent.gouley@imerys.com