Tear Sheet: Imerys S.A.

S&P Global Ratings estimates that full-year performance in 2024 will be resilient, despite sluggish growth, especially in Europe. We expect S&P Global Ratings-adjusted EBITDA to rise to €650 million in 2024, from €590 million in 2023, mainly helped by cost saving programs that achieved $93 million in the first nine months, and to remain broadly stable in 2025, supported by a moderate increase in prices and volumes. Meanwhile, lower interest rates should bolster demand in the residential construction segment. This should somewhat offset the negative effect on the group's scope of its disposal of the paper assets. Furthermore, Imerys expects its ongoing cost saving programs to reduce gross costs by 3.0%-3.5% a year. In the first quarter of 2025, we

...December 17, 2024 In July 2024, Imerys S.A. completed the disposal of its assets serving the paper market for about 150 million and repositioned its business to focus on specialty minerals solutions. S&P Global Ratings estimates that full-year performance in 2024 will be resilient, despite sluggish growth, especially in Europe. We expect S&P Global Ratings-adjusted EBITDA to rise to 650 million in 2024, from 590 million in 2023, mainly helped by cost saving programs that achieved $93 million in the first nine months, and to remain broadly stable in 2025, supported by a moderate increase in prices and volumes. In 2025, volumes are expected to benefit from positive trends in nonresidential construction, consumer goods, and the energy sectors in North America. Meanwhile, lower interest rates should bolster demand in the residential construction segment. This should somewhat offset the negative effect on the group's scope of its disposal of the paper assets. Furthermore, Imerys expects its...

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