Imerys Sa · EURONEXT:NK
Imerys Sa — Imerys Sa Ord — FY2024 Earnings Presentation
33 slides from Imerys Sa's earnings presentation, Feb 21, 2025
Slide 1: 2024 Annual Results
2024 Annual Results February 21, 2025 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.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 February21, February 21,2025 2025| |Imerys Imerys2024 2024Annual AnnualResults Results
Slide 4: Imerys Highlights
Imerys Financial Highlights Outlook Results 4 February21, February 21,2025 2025| |Imerys Imerys2024 2024Annual AnnualResults Results
Slide 5: Full year 2024 - Financial highlights
Full year 2024 - Financial highlights Revenue Adjusted EBITDA Cash flow generation Proposed dividend €3,605m €675m €209m(2) €1.45 per share ● FY 2024 revenue at €3,605 million ● FY 2024 adjusted EBITDA at €675 ● Net current free operating cash ● Current net income from continuing with +1% organic gr
Slide 6: Q4 2024 - Solid organic growth driven by positive volumes and prices
Q4 2024 - Solid organic growth driven by positive volumes and prices Revenue (in € million) ● +3.5% organic growth in sales Q4 2024 vs Q4 2023, driven by: +3.5% organic ○ Positive volumes: +2.1% growth ○ Price increases: +1.4% 910 844 802 ● +0.9% organic growth FY 2024 vs FY 2023 driven by: ○ Positi
Slide 7: Full year adjusted EBITDA margin at 18.7%, significantly above last year
Full year adjusted EBITDA margin at 18.7%, significantly above last year Adjusted EBITDA (in € million) Change in pricing and costs vs prior and margin (as a % of revenue) year (in € millions) +11.4% increase +14 +16 +30 like-for-like ● Full year 2024 adjusted EBITDA +11 margin at 18.7% (+110 bps vs
Slide 8: Imerys end-markets by revenue 2024
Imerys end-markets by revenue 2024* 11% 39% Energy & electronics Construction & infrastructure 13% Industry & equipment 15% Automotive & transportation 22% Consumers & healthcare Source: Imerys estimates * excluding paper assets 8 February21, February 21,2025 2025| |Imerys Imerys2024 2024Annual Annu
Slide 9: End-markets Q4 2024 and trends 2025 (1/3)
End-markets Q4 2024 and trends 2025 (1/3) Construction(1) Infrastructure and non-residential still benefiting from strong government Construction investments while the residential sector in Europe and in the US still suffering Q2-24 vs Q3-24 vs Q4-24 vs from high interest rates Q2-23 Q3-23 Q4-23 Europ
Slide 10: End-markets Q4 2024 and trends 2025 (2/3)
End-markets Q4 2024 and trends 2025 (2/3) Weakness expected to continue Automotive Light vehicle production (1) ● Europe: stronger drop than expected and negative outlook for 2025 Q2-24 vs Q3-24 vs Q4-24 vs Q2-23 Q3-23 Q4-23 ● North America: destocking continued in Q4. Further decrease of 2% Europe
Slide 11: End-markets Q4 2024 and trends 2025 (3/3)
End-markets Q4 2024 and trends 2025 (3/3) Industrial production (1) Industry & ● Europe: industrial production continuing to decrease, no rebound expected Equipment Q2-24 vs Q3-24 vs Q4-24 vs before second part of 2025 Q2-23 Q3-23 Q4-23 Europe -2% -2% -2% ● Industrial activity slightly slowing also
Slide 12: Full year 2024 - Strategic highlights
Full year 2024 - Strategic highlights M&A Talc update Lithium Sustainability ● Acquisition of the European ● On January 5, 2025, more ● EMILI project progressing ● Reduction of scope 1 & 2 diatomite and perlite than 90% of voting according to plan: greenhouse gas emissions of business of Chemviron:
Slide 13: Full year 2024 - New production lines already contributing to Group's sales
Full year 2024 - New production lines already contributing 50M€ to Group’s sales Jade (China) Willebroek (Belgium) Vizag (India) ● New plant in China, producing high quality talc ● Conductive additive materials for ● Production of calcium aluminate binders used for lightweighting of polymers lithium
Slide 14: Innovative products generating more than 40M€ revenue in 2024
Innovative products generating more than 40M€ revenue in 2024 A selection of recent successes: Green Mobility & Sustainable Energy Sustainable Construction Natural Solutions for Consumer Goods ● New mineral absorbents to purify waste ● Specialty binders (LEAP product series) to enable ● Mineral-base
Slide 15: Group sustainability roadmap: well on track to achieve 2025 targets
Group sustainability roadmap: well on track to achieve 2025 targets EMPOWERING OUR PEOPLE GROWING WITH OUR CUSTOMERS CARING FOR OUR PLANET Safety & Human Business Sustainable Environmental Climate Health Capital Conduct Solutions Stewardship Change Safety Culture ✔ ∿ ✔ ✔ Environmental ✔ Water Report
Slide 16: Accelerating decarbonisation by aligning with a 1.5°C trajectory
Accelerating decarbonisation by aligning with a 1.5°C trajectory Decarbonisation levers Target compatible with a 1.5°C trajectory* tCO2e - scope 1 & 2 ● Energy efficiency and recovery ● Fuel switching and biomass ● Low-carbon and renewable -28% -42% electricity ● Electrification tCO2e ● Process innovat
Slide 17: Strong ESG performance recognized by leading rating agencies
Strong ESG performance recognized by leading rating agencies Indices/ Assessment (-D to A) (0 to 100) (CCC to AAA) (D- to A+) (0 to 100) Most recent 62 rating A 73 AA 69 C+ Above industry Relative to average B- 94th percentile 72th percentile 80th percentile 85th percentile industry Minings & Metals
Slide 18: Financial Results
Imerys Financial Highlights Outlook Results 18 February21, February 21,2025 2025| |Imerys Imerys2024 2024Annual AnnualResults Results
Slide 19: Sales variances 2024 driven by volume recovery
Sales variances 2024 driven by volume recovery (€m) -4.8% -1.0% +1.1% -0.3% -5.0% Reported 3,794 +40 3,605 -182 -38 -10 organic variation: +0.9% 2023 Perimeter Currencies Volumes Price-mix 2024 revenue revenue Q4 894 -89 -2 +17 +11 832 -9.9% -0.2% +2.1% +1.4% -7.0% 19 February21, February 21,2025 20
Slide 20: Performance Minerals
Performance Minerals Like-for-like Consolidated amount Like-for-like Q4 2023 Q4 2024 2023 2024 change (€ millions) change 246 219 +9.4% Revenue Americas 1,034 986 +6.2% 336 292 +2.2% Revenue Europe, Middle East and Africa and Asia-Pacific 1,423 1,327 +0.8% (24) (20) - Eliminations (116) (109) - 559 4
Slide 21: Solutions for Refractory, Abrasives & Construction
Solutions for Refractory, Abrasives & Construction Like-for-like Consolidated amount Like-for-like Q4 2023 Q4 2024 2023 2024 change (€ millions) change 288 286 +1.3% Revenue Refractory, Abrasives & Construction 1,233 1,190 -0.9% - - - Adjusted EBITDA 141 151 +7.1% (1) - - - Adjusted EBITDA margin 11
Slide 22: Solutions for Energy Transition
Solutions for Energy Transition 2023 Solutions for Energy Transition 2024 Reported change Graphite & Carbon TQC (50%) SET (€ millions) Graphite & Carbon TQC (50%) SET SET 224 224 Revenue 215 215 - 53 53 Adjusted EBITDA 42 42 - 80 80 Share in net income from JVs 98 98 - 133 Adjusted EBITDA SET 140 +5
Slide 23: Adjusted EBITDA at €675 million in line with FY 2024 guidance
Adjusted EBITDA at €675 million in line with FY 2024 guidance(1) +1.2% (€m) +91 +5 675 +20 668 +20 -44 -52 -17 -15 like-for-like variation: +11.4% 17.6% 18.7% margin margin 2023 Perimeter Currencies Volumes Price Variable Fixed Share in net Change 2024 Adjusted costs costs and income of in inventori
Slide 24: Current net income from continuing operations reached €262 million
Current net income from continuing operations reached €262 million (€m) 2023 2024 Change Adjusted EBITDA 668 675 +1.2% Current operating income 365 394 +8.0% Current financial expenses (38) (51) - Current income tax (81) (79) - Minority interests (3) (2) - Current net income from continuing operation
Slide 25: 2024 cash flow generation
2024 cash flow generation (€m) 2023 2024 Adjusted EBITDA (including discontinued operations) 676 675 Increase (–)/decrease (+) in operating working capital 86 4 Notional tax on current operating income (96) (90) Elimination of share of net income from JVs (91) (110) Dividends received from JVs 55 75
Slide 26: Sound financial structure
Sound financial structure Change in net financial debt (€m) Net Debt Net current Financial result Other income Acquisition Dividends Assets held for Other Net Debt Dec. 31, 2023 free operating paid and expenses net of disposals sale Dec. 31, 2024 cash flow Covenant 1.7x Net financial debt to adjusted
Slide 27: Outlook
Imerys Financial Highlights Outlook Results 27 February21, February 21,2025 2025| |Imerys Imerys2024 2024Annual AnnualResults Results
Slide 28: Outlook
Outlook ● The Group expects further volume growth in an overall economic environment which is still uncertain ● Our focus remains on cost control and cash generation ● By combining these efforts with our commercial initiatives, innovative product offerings and our recent investments in additional pr
Slide 29: Appendix
Imerys APPENDIX 29 February21, February 21,2025 2025| |Imerys Imerys2024 2024Annual AnnualResults Results
Slide 30: 2024 current operating income variance
2024 current operating income variance +8.0% (€m) +96 +26 394 365 +20 -17 -65 -16 -15 like-for-like variation: +18.5% 2023 Perimeter Currencies Volumes Price- Mix Variable Fixed Share in net 2024 COI costs costs and income of COI overheads associates & others Q4 64 -12 -1 +8 +10 +8 -7 -6 64 -0.4% 30
Slide 31: Strong liquidity position
Strong liquidity position Bond maturity profile (€m) Bilateral credit lines maturity profile (€m) Bonds Average maturity Bilateral credit lines Average maturity €1,700m 3.9 years €1,010m 2.7 years Average maturity Average maturity (€m) 31/12/2023 31/12/2024 High level of available resources : Bonds 2,
Slide 32: 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 33: 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/ 33 February February July 21,2025 27, 2021 21, | 2025 | |Imerys Imerys Imerys 2024 first half 2024 Annual 2021 Annual Results Results Results