Imerys Sa Ord (IMYSF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the EMERIS first quarter 2026 results conference call and webcast. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be the question and answer session. To ask a question during the session, you need to press star, 1, 1 on your telephone keypad. You will not hear an automatic message advising your hand is raised. To withdraw a question, please press star, 1 and 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our first speaker today, Alessandro Dazza, CEO. Please go ahead. Thank you, and good evening to all of you. Thank you for joining us today to review Imerys Q1 2026 results. With me here, Pierre Lebreuil, our CFO. Let me start, as usual, by giving you some highlights of the first quarter 26. I'd say immediately a strong quarter for Imerys with organic growth, improved profitability at constant exchange rates in a market which was certainly challenging. Revenue at $835 million was up 0.7% versus last year at constant FX, driven by volume growth and steady pricing. To be noted, the significant currency headwinds in Q1, representing approximately 40 million or 5% of sales compared to last year, where the dollar was still very strong. Pierre will show you in detail later on this specific effect. Adjusted EBITDA for the period amounted to €118 million, up 4% at constant exchange rates, reflecting solid execution, volume increases, and cost control. Short update on our strategic roadmap. Project Horizon, very important for this year, one of our priorities. has been launched across all main relevant countries. Social and legal processes are ongoing and in progress. Deployed, I would say, per plan, on t...