As automotive manufacturers registered an unexpected decline in car production due to the new European emissions regulations and there is a slowdown in lithium-ion battery from consumer electronics manufacturers in China, the company was negatively impacted. The exit from ceramic proppants business and the difficulties in Namibia could lead to controlled impairments in Q4 18. Following this earnings release, we expect to lower our target price rather significantly, by 10% to 20%, but to keep
02 Nov 2018
H1 18: contraction of margins in Q3 18, impairment expected in FY18
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H1 18: contraction of margins in Q3 18, impairment expected in FY18
Imerys SA (NK:PAR) | 0 0 1.4% | Mkt Cap: 6,735m
- Published:
02 Nov 2018 -
Author:
Felix Brunotte -
Pages:
4
As automotive manufacturers registered an unexpected decline in car production due to the new European emissions regulations and there is a slowdown in lithium-ion battery from consumer electronics manufacturers in China, the company was negatively impacted. The exit from ceramic proppants business and the difficulties in Namibia could lead to controlled impairments in Q4 18. Following this earnings release, we expect to lower our target price rather significantly, by 10% to 20%, but to keep