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 2023 Imerys SA Earnings Call Transcript

Feb 22, 2024 / 08:30AM GMT

Release Date Price: $28.15

Transcript

Alessandro Dazza

Imerys SA - CEO

Good morning to all of you and thank you for joining us today to review Imerys Q4 and full year 2023 results. With me as usual, our CFO, SÃ©bastien Rouge.

Let me start by giving you some highlights of the year we just closed. Once again, I think in 2023, Imerys continued to demonstrate resilience and agility in what we can call a complex market environment. Revenues were close to EUR3.8 billion, with has volumes impacted by weak demand in certain or maybe several end markets, notably residential construction, industrial and paper markets, as well as significant destocking throughout the year.

Despite last year, high comparables prices went up this year, again, 2.6% on a full year basis, though slowing in Q4 with a negative 4%, clearly to reflect the end of certain surcharges. SÃ©bastien will deep dive on this in a few minutes. Thanks to price discipline and really strong actions on costs Imerys posted a current EBITDA for the full year at EUR633 million in line with guidance even for Q4 '23 EBITDA, at EUR152 million in line or even slightly above Q4

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