Imerys: margins resist in Q3

(CercleFinance.com) - Imerys' organic growth slowed in Q3 due to a tightening of market conditions, which is set to continue at the end of the year.


Although prices were maintained, the margin resisted and the group barely changed its annual forecasts.

A subsidiary of GBL, the supplier of industrial minerals recorded Q3 2018 sales of 1.15 billion euros, up 4.6% as reported. Over the first nine months, sales reached 3.5 billion euros (+9.4%). Organic growth was 4.7%, after 6% in Q2 (i.e. +5.3% over H1), although this slipped to 3.1% in Q3.

Imerys estimates that in Q4, business will be in line with its level in the third quarter, while marked by a toughening up of market conditions. In 2018, pro-forma underlying net income at unchanged market conditions, which was previously expected to rise "by around 7%," is expected to increase "by almost + 7%".



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