Imerys jumps as Q1 marks start of long-awaited recovery

Imerys SA

02/05/2024 11:35

** Shares in Imerys  IMTP.PA  rise 10.7% after the French
minerals group reported better-than-expected EBITDA in a quarter
where it reached its lowest business point, according to co's
CEO
    ** Imerys' Q1 adjusted EBITDA rises 9.2% to 188 million
euros ($201 million), 13% above the consensus, cited by ODDO BHF
    ** ODDO BHF says this report marks "the start of a
long-awaited recovery"
    ** The group itself attributes this good performance to
significant contribution from its JV with Norsk Mineral, The
Quartz Corporation     
    ** It also expects gradual recovery in its markets and
sequential improvement in sales volumes in coming quarters
    ** "In terms of volumes, Q1 is 1% above Q3 and 4% above Q4,"
ODDO BHF adds
    ** Shares touch their highest price in 10 months and
currently sit on top of France's SBF 120 index  .SBF120 


($1 = 0.9346 euros)

 (Reporting by Stephanie Hamel)
 ((stephanie.hamel@tr.com))