After talc in FY18, a new negative has appeared, namely the wollastonite plant is expected to impact FY19 results by €-25m. Overall, Imerys published a disappointing set of results, but managed to limit the impact on the bottom line thanks to refinancing from a JPY private placement to a Schuldschein which met strong demand from investors. Following this earnings release, we will lower our net income forecast by some 10%. However, we do not expect a change in recommendation.
07 May 2019
Q1 19: after talc in FY18, wollastonite to impact FY19 results by €-25m
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Q1 19: after talc in FY18, wollastonite to impact FY19 results by €-25m
Imerys SA (NK:PAR) | 0 0 1.4% | Mkt Cap: 6,735m
- Published:
07 May 2019 -
Author:
Felix Brunotte -
Pages:
3
After talc in FY18, a new negative has appeared, namely the wollastonite plant is expected to impact FY19 results by €-25m. Overall, Imerys published a disappointing set of results, but managed to limit the impact on the bottom line thanks to refinancing from a JPY private placement to a Schuldschein which met strong demand from investors. Following this earnings release, we will lower our net income forecast by some 10%. However, we do not expect a change in recommendation.