Imerys Sa · EURONEXT:NK
Imerys Sa — Imerys Sa Ord — Q1 2023 Earnings Presentation
20 slides from Imerys Sa's earnings presentation, May 2, 2023
Slide 1: First Quarter 2023 Results
First Quarter 2023 Results May 2, 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: Imerys, Highlights, Financial Results, Outlook
Imerys Financial Highlights Outlook Results 3 May2,2,2023 May 2023| |Imerys Imerysfirst firstquarter quarter2023 2023Results Results
Slide 4: Highlights
Imerys Financial Highlights Outlook Results 4 May2,2,2023 May 2023| |Imerys Imerysfirst firstquarter quarter2023 2023Results Results
Slide 5: Q1 2023 Highlights
Q1 2023 Highlights (*) Revenue (€m) and current Current operating income EBITDA margin (%) (€m) and margin (%) ● Revenue at €997 million, in line with previous quarter (-0.9% like-for-like) amid challenging market conditions ● Current EBITDA margin above 15% of sales demonstrating the Group’s resili
Slide 6: End-markets trends in Q1 2023 (1/3)
End-markets trends in Q1 2023 (1/3) Construction(1) Construction Q4-22 Q1-23 ● Recessionary headwinds in Europe and North America, vs. Q4-21 vs. Q1-22 with residential construction severely impacted by credit Europe +1% -1% tightening North Am. -9% -10% ● Public policies supporting growth in China,
Slide 7: End-markets trends in Q1 2023 (2/3)
End-markets trends in Q1 2023 (2/3) Automotive Light vehicle production (1) ● Improved supply chain positively impacting inventory Q4-22 Q1-23 vs. Q4-21 vs. Q1-22 rebuilding in Europe and US Europe +15% +17% ● Demand still below 2019 levels, reflecting low consumer North Am. +8% +7% confidence and infl
Slide 8: End-markets trends in Q1 2023 (3/3)
End-markets trends in Q1 2023 (3/3) Industrial production (1) Industry & Equipment Q4-22 Q1-23 vs. Q4-21 vs. Q1-22 ● Soft demand in Europe & North America due to cost Europe -0% -0% inflation & depressed corporate investments North Am. +3% -1% ● Asia benefitting from lifting of Covid-19 restrictions i
Slide 9: Financial Results
Imerys Financial Highlights Outlook Results 9 May2,2,2023 May 2023| |Imerys Imerysfirst firstquarter quarter2023 2023Results Results
Slide 10: Sales variance in Q1 2023
Sales variance in Q1 2023 (€m) -1.9% +1.3% -11.9% +11.0% -1.6% Reported 1,013 +111 997 -19 +13 -120 Like-for-like change: -0.9% Q1 2022 Perimeter Currencies Volumes Price Q1 2023 revenue revenue 10 May2,2,2023 May 2023| |Imerys Imerysfirst firstquarter quarter2023 2023Results Results
Slide 11: Performance Minerals
Performance Minerals Revenue Q1 2022 Q1 2023 like for like change vs. (€m) Q1 2022 Americas 262 256 -1.2% EMEA 310 328 +6.6% APAC 141 133 -1.1% Eliminations & others (55) (39) - Total segment revenue 659 677 +4.4% ● Construction industry impacted by rising interest rates in the US and Europe ● Growt
Slide 12: High Temperature Materials and Solutions
High Temperature Materials and Solutions Revenue Q1 2022 Q1 2023 like for like change vs. (€m) Q1 2022 Refractory, Abrasives, Construction (RAC) 355 319 -10.9% Elimination & others 0 1 - Total segment revenue 355 320 -10.6% ● Building and Infrastructure activity posting resilient performance (increa
Slide 13: Current EBITDA margin of 15.1% for Q1 2023
Current EBITDA margin of 15.1% for Q1 2023 (€m) -3.4% +111 -50 +1 -3 -57 156 -16 +8 151 15.4% Current EBITDA margin 15.1% Q1 2022 Perimeter Currencies Volumes Price Variable Fixed Change Q1 2023 Current costs costs and in inventories Current EBITDA overheads and other EBITDA 13 May2,2,2023 May 2023|
Slide 14: Current net income from continuing operations reached €68 million
Current net income from continuing operations reached €68 million (€m) Q1 2022 Q1 2023 Change y-o-y Current EBITDA 156 151 -3.4% Current operating income 92 105 +14.6% Current financial expenses (9) (12) - Current income tax (22) (25) - Current tax rate 27.0% 27.0% - Current net income from continuin
Slide 15: Outlook
Imerys Financial Highlights Outlook Results 15 May2,2,2023 May 2023| |Imerys Imerysfirst firstquarter quarter2023 2023Results Results
Slide 16: Outlook
Outlook ● Weak demand in certain markets, notably construction (higher interest rates in Europe and US) and industrial applications (low level of activity and destocking) ● Both the Chinese economy and the automotive market seem on track to a robust recovery ● Mobile energy sector expected to go bac
Slide 17: Appendix
Imerys APPENDIX 17 May2,2,2023 May 2023| |Imerys Imerysfirst firstquarter quarter2023 2023Results Results
Slide 18: Current operating income (COI)
Current operating income (COI) (€m) +111 -51 Reported +14.6% +15 105 +0 -2 -3 92 -57 9.0% COI margin 10.5% Q1 2022 Perimeter Currencies Volumes Price-mix Variable Fixed Change Q1 2023 COI costs costs and in inventories COI overheads and other 18 May2,2,2023 May 2023| |Imerys Imerysfirst firstquarter q
Slide 19: 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 20: 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/ 20 May May July 2,2,2023 27, 2023|||Imerys 2021 Imerysfirst Imerys firstquarter first quarter half 20212023 2023 Results Results Results