Financial Press Release

Imerys posts full year 2023 current EBITDA in line with guidance and substantial cash flow generation

  • Full year revenue at €3,794 million impacted by weak demand in most markets, in particular residential construction,and adverse currency effect
  • Current EBITDA in line with guidance1 at €633 million; current EBITDA margin resilient at 16.7% benefiting from cost reductions (€126 million)
  • Substantial net current free operating cash flow generation of €191 million (2022: €20 million), and €288 million (2022: €105 million) before strategic capital expenditures, supported by working capital management actions
  • Solid financial structure and strong liquidity position: net debt reduced by €548 million (-33%), improving the net financial debt to current EBITDA ratio to 1.8x compared to 2.3x in December 2022
  • Proposal of a cash dividend of €1.35 per share, representing a total distribution of €115 million
  • New 1.5°C trajectory validated by SBTi: reduction of 42% of scope 1 & 2 greenhouse gas emissions (tCO2eq) and of 25% of scope 3 by 2030 from 2021 base year