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[November 2001]
Imerys Announces Q3 Results
Imerys Group sales for the quarter ended 30 September 2001 were 2203.8 million euros, compared with 2050.6 million euros in the same period in 2000. This represents a 7.5% increase, mainly due to the impact of external growth operations completed in 2000 and the first part of 2001 (+9.4%) and the slightly favourable effect of exchange rates (+0.8%).
At comparable Group structure and exchange rates, consolidated sales over the first nine months of the year decreased 2.7% compared with a high basis of comparison in 2000, which was up 7.7% on 30 September 1999 figures. Overall, the Group's businesses continued to operate in a difficult economic environment, with an intensification in Q3 of the slowdown that began early in the year. At constant Group structure and exchange rates, Q3 consolidated sales decreased 5.4% (down 0.3% in Q1; down 2.5% in Q2).
Sales in Ceramics & Specialities totalled 298.2 million euros, which represents an 18.4% increase. This improvement takes into account the contribution of acquisitions made in the second half of 2000 and K-T Clays, which has been consolidated since 1 April 2001. At constant Group structure and exchange rates, the increase amounts to 2.2% over nine months, with a downturn in Q3 in raw materials and ceramic bodies for tableware and floor tiles.
In Refractories & Abrasives, consolidated sales were 503 million euros, a 21.9% increase due to the acquisition of Treibacher on 1 July 2000. At constant Group structure and exchange rates, the business group's sales - which declined slightly in the first half of 2001 - fell sharply in Q3, resulting in a 6.1% decrease for the first nine months of the year. This reflects the worsening of the crisis in the USA steel sector and in the world electronic components industry.
Imerys said it was planning to rationalise industrial resources in Refractories and to implement a further competitiveness improvement phase in kaolin for paper production facilities.
ENDS