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Imerys reports increase in results in 1st half 2017

2017-07-28

Jul. 27, 2017 – Imerys release the result in the first half of 2017. 


5.9% revenue growth
6.7% increase in current operating income, operating margin improvement to 14.1%
€151 million current free operating cash flow, higher development capital expenditure
Acquisition of Kerneos effective since July 18, 2017
2017 objective: year-on-year growth in net income from current operations above 7% at constant market conditions and exchange rates


 

Revenue for the 1st half of 2017 totaled €2,220.3 million, a 5.9% increase on a reported basis from the same period in 2016. This improvement results from: 


A 1.8% organic growth. Increase in revenue at comparable Group structure and exchange rates reflects an overall improvement in activity in the 1st half of 2017, with the significant exception of the kaolin market for the paper industry. Excluding the Ceramic Materials business group, which includes the Kaolin division, volumes rose 3.9%. As previously stated, the 1st quarter was marked by significant inventory rebuilding in the downstream supply chain of the High Resistance Minerals business group. The price-mix component was positive at 0.5% (of which 1.0% in the 2nd quarter) thanks to new products, in particular; 


A €51.8 million positive Group structure effect (2.5%), which includes the consolidation of the acquisitions completed in 2016 (such as Alteo and SPAR) and early 2017 (Damolin in particular); 


A €33.7 million positive exchange rate effect (1.6%), mainly due to the appreciation of the US dollar in the 1st quarter.



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