Imerys (OTCPK:IMYSF)

$ 30.33 0 (0%) Market Cap: 2.56 Bil Enterprise Value: 3.87 Bil PE Ratio: 0 PB Ratio: 0.74 GF Score: 68/100

Full Year 2022 Imerys SA Earnings Call Transcript

Feb 17, 2023 / 09:00AM GMT

Release Date Price: $42.3

Transcript

Alessandro Dazza

Imerys S.A. - CEO

Good morning to all of you. Thank you for joining us today to review Imerys' Q4 and 2022 full year results. With me today, as usual, Sebastien Rouge, our CFO.

Let me start by giving you some highlights of the year we just closed, a year which confirmed again Imerys' strong financial performance and resilience in a very challenging context. 2022 was marked by an extraordinary inflation, with prices of energy reaching record levels, particularly in Europe during the summer. In this context, Imerys managed to close the year with a positive plus contribution of variable costs, as we will see in a few slides. We delivered double-digit organic growth at 12.5% for the full year.

Volumes were negatively impacted by the crisis in Russia and Ukraine, by continuous lockdowns in China, an important country for the group. But the decline of paper production which is back to its historical trends after a short rebound post COVID, as well as a certain weakness in industrial markets, especially in Q4 where we could see a significant customer destocking. Sebastien

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