Imerys Sa Ord (IMYSF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. This is the conference operator. Welcome and thank you for joining the eMERIS 2025 Annual Results Conference Call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Mr. Alessandro Dazza, Chief Executive Officer, and Pierre Nepareil, Chief Financial Officer of Imerys. Please go ahead. Good morning to all of you. Thank you for joining us today to review Imerys Q4 and full year 2025 results. I think the first word is dedicated to Pierre Lebreu, our CFO next to me, our new CFO. Pierre is not new to Imerys. He has been with us for more than 20 years, new in his role. I'm very proud of this promotion because Pierre will bring strong leadership to the team, experience, and will guarantee continuity in this business. Pierre, welcome. And as usual, let me start by giving you some highlights of the year we just closed. 2025 revenue amounted to 3.385 billion euro, broadly in line with last year. Q4 at 800 million, also broadly in line with last year, both on a like-for-like basis, reflecting, I would say, solid pricing in a market with subdued industrial activity and construction demand in North America and Europe still lacking. Full year 2025 adjusted EBITDA landed at €546 million within our guidance, despite currency headwinds, impacting EBITDA for the full year for €22 million. And this was particularly evident in Q4, given the devaluation of the U.S. dollar. Year-on-year performance, EBITDA-wise, was also broadly in line with last year at minus 0.4% at constant exchange rates and excluding, of cou...