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[September 2006]
Imerys Group Definitive First-Half Results 2006
Imerys has published its definitive results for the first half of 2006, confirming the provisional results published on 26 July 2006.
Highlights are as follows:
Sales: 1.665.8 billion euro (up 12.1% over H1 2005)
Current operating income (1): 228.8 million euro (up 4.5%)
Net income from current operations (2): Group's share 150.3 million euro (up 7.8%)
Net income, Group's share 54.9 million euro (H1 2005 180.8 million euro n.s.)
Financing
Operating cash flow (3): 250.7 million euro (up 7.4%)
Capital expenditure: (100.1 million euro) down 23.7%
Net financial debt: 1.215.2 billion euro (up 22.9%)
(1) Operating income before other income and expense. (2) Net income before
other income and expense, net.
(3) Current operating income plus net depreciation expense and provisions,
minus tax on current operating income.Imerys said its markets showed contrasting trends for the first half of 2006, in a macroeconomic environment marked by high inflation in external costs, particularly energy. In that context, the group said it again showed its adaptability, strict financial management and the responsiveness of its personnel. It kept up a steady growth rate during the period with increases of 12.1% in sales, 4.5% in current operating income and 7.8% in net income from current operations.
The restructuring measures taken throughout the Group, particularly in Pigments for Paper and Specialty Minerals in the United Kingdom, resulted in total charge net of tax of €95.4 million for the first half of 2006.
As announced on July 26, Imerys expects to record approximately +7% growth in its net income from current operations for the full year.
www.imerys.com
ENDS