Imerys Group: 16 years of steady growth

Apr 16, 2008

Imerys, a leading international group and one of the largest industrial minerals producers, reported strong growth in its consolidated results in 2007.
Sales increased by 3.5% over 2006 to 3.402 billion euro. The growth in turnover was due to the buoyancy of exports to Eastern Europe and the United States and positive trends in the construction market in France and Europe. Sales in emerging economies increased by 22% to make up 20% of the group's total turnover.

Gross operating income (EBITDA) rose to 478.3 million euro (4.3% up on 2006) due to the increase in sales revenues, while EBIT increased by 2.7%.

Net profits also performed strongly to reach 284.2 million euro (187.4 million euro in 2006), pushing up price per share to 5 euro (up 3%) and ensuring a dividend per share value of 1.90 euro (up 5.6% on 2006).

The Ceramic, Refractories & Filtration Business Unit, which has a 31% market share of the four core businesses, has made a major contribution to the Group's excellent balance sheet results.
The Business Unit's turnover rose to 1.297 billion euro (4.7% up on the previous year), while EBITDA reached 172.7 million euro (1.1% up on 2006).
In particular, the ceramic market expanded slightly in Europe but contracted sharply in the United States due to the property market crisis.

As part of the Group's expansion policies, in February 2008 it finalised the acquisition of Astron China, a subsidiary of the eponymous Australian group, for a figure of 115 million euro. With headquarters in Shenyang, four factories and eight logistic centres, Astron China is the largest Chinese producer and distributor of a large number of products deriving from zircon. In the tax year to June 2007 it generated a turnover of 114 million euro, 65% of which was from domestic market sales. The acquisition will allow Imerys to strengthen its activities in the fused minerals sector, expanding its product range for the refractories, ceramic and casting industries and consolidating its presence in China.