Imerys SA Q3 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ebrahim Homani - CIC - Analyst : I have 3, if I may. The first one is about the guidance. Am I too optimistic if I say that the upper side of the guidance is now closer than it was in each one given your numbers? And my second question is about TQC. Could we have any update on the situation as solar panel price seems to remain weak -- and my last question is about the tariff litigation in the US, if we can have an update on that also.

Question: Sven Edelfelt - ODDO BHF - Analyst : I would have 3, if I may. So the first one is on the asbestos actually. If I'm not mistaken, there has been a document published today on the Delaware court on that document refer to a date, which is on the fourth of November for the judge to approve or launch the vote. So in this document, I can even find the ballot for the (inaudible) is towards. So everything is evaluable. So correct me if I'm wrong, but this is very positive on the -- to some extent, I mean, you didn't mention this Alessandro in the answer to a previous question. So that's the first question. And then I would have 2, the other one. The next one is on the quartz Corporation. After the hurricane, have you had some orders from Chinese customers have you been able to raise price potentially given there has been many damage to (inaudible) mine and as well as the logistics. So maybe if you can elaborate a bit on that what would be great lastly, how should we view the organic trends in the coming quarters? Usually, Imerys, as always, a very strong rebound, let's say, after a certain period of weakness. And we had like two years a very strong destocking effect this time. So how should you view the coming quarter? Is automotive weakness a reason to believe the rebound should be different for you this time.

Question: Sven Edelfelt - ODDO BHF - Analyst : So let's like (inaudible) the fourth of November. Have a good one.

Question: Aron Ceccarelli - Berenberg - Analyst : I have three questions. My first one is in -- is about the US. Maybe can you unpack a little bit the performance in the US in Performance Minerals because clearly very strong volume growth driven by consumer goods, but we are not seeing many companies in consumer goods growing these days so fast. So I would like to maybe understand what's driving that. The second one would be on the exit rate of Q3 and how -- maybe if you can provide just some comments around October. And I remember last time we spoke, you were clearly a little bit more cautious that everybody, I would say, around Q4. I would like to understand maybe if that feeling steps remain the same or the situation from a PC perspective, has really improved. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 30, 2024 / 5:30PM, IMTP.PA - Q3 2024 Imerys SA Earnings Call And what that means for pricing going into before? The final one is on synthetic graphite in [Carbon Black.] I think the Q2 results were quite confident on a rebound of this business think we saw the volume growing and not the pricing. So how should we think about revenue development into the end of the year for this part of the business?

Question: Jason Fairclough - Bank of America - Analyst : Look, two quick questions for me. One is maybe a simple one on the JVs. And the second one is just on your outlook commentary, particularly around autos. So just on the JVs, I wanted to just check my numbers. Is it correct that the quarterly progression on the contribution from JVs from Q1 through Q3 goes $552 million and then [5]. I guess my question here is, how do we think about the progression from here? And did you maybe get ahead of yourselves when you change the reporting on these businesses after Q1? Second question then is just on autos and especially for Europe. It looks bad. I mean, globally, it looks bad, but Europe, it looks really, really bad, like a different level of bad -- we have VW talking about closing factories in Germany for the first time ever. So I guess how are you thinking about capital allocation to the European businesses that service European autos -- would you actually consider shrinking this footprint?

Question: Jason Fairclough - Bank of America - Analyst : That's funny. I appreciate the color there, Alessandro. How do we think about the run rate, the normal level of profitability in this business? Is there normal? Or is it just going to be all over the place? Is this EUR20 million, EUR25 million a quarter?

Question: Auguste Deryckx Deryckx - Kepler Cheuvreux - Analyst : I have two questions. First, you mentioned a gain in market share, which has led to an increase in volume -- are you able to quantify how much of the 3.8% volume increase comes from growth in the end markets and what comes from the gain in market share largely some orders magnitude? And my second question is on solar. So if we look at the results from solar panel manufacturer or even the communication from (inaudible) the figures for the third quarter are pro and the outlook is also poor and under outlook is so can you help me to make the link between this element and you rather encouraging communication concerning the recovery of quotes.