Imerys: Q3 net income down 34%
(CercleFinance.com) - Imerys has reported 9m 2018 revenue that is down 2.
7% LFL at 3,344.8 million euros (deteriorating, with -5.1% in the third quarter) compared with the same period of 2018.
"Market conditions, particularly in the automotive, industrial equipment and steel markets in Europe, have significantly deteriorated, causing Group volumes to fall by -6.9% in the third quarter ended September 30, 2019 after -4.8% in the second quarter," the group said.
Underlying operating income was down 15.7% over the first nine months (-19.8% in Q3) as volumes fell. Net income, group share came in at 159.6 million euros, down 34.0%.
Management has said that FY underlying net income, group share is expected to decrease by approximately 20% compared to 2018, of which -7% is related to the deconsolidation of the North American subsidiaries of talc and the closure of the Willsboro plant in the first half of the year.
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