Imerys Non-audited consolidated results to September 30, 2007

• 
• 23rd December 2007
• Materials Handling
 

Net income from current operations up + 3.0%

On Monday, November 5, the Board of Directors of Imerys, meeting under the chairmanship of Aimery Langlois-Meurinne,

examined the non-audited results to September 30, 2007 as presented by Gérard Buffière, Chief Executive Officer.

CONSOLIDATED RESULTS
(non-audited, € millions)
9/30/2007 9/30/2006 Current change
Sales 2,552.6 2,477.3 + 3.0%
Current operating income(2) 361.8 345.7 + 4.7%
Net income from current operations(3)(4) 231.9 225.2 + 3.0%
Net income(4) 216.7 116.2 n.a.
Net income from current operations per share(3)(4) €3.66 €3.55 + 3.3%
(1) At comparable Group structure and exchange rates; (2) Operating income before other operating revenue and expenses; (3) Net income before other operating revenue and expenses, net; (4) Group's share.

During the 3rd quarter of 2007, Imerys' markets remained healthy overall except those related to the US construction sector which are facing ongoing difficulties. The monetary environment was marked by further depreciation of the US dollar. The Group's energy bill was stable overall.

In the last quarter, four additional acquisitions enabled the Group to enhance its minerals portfolio and strengthen its positions in high-growth regions (Asia, Latin America, Eastern Europe). in that context, the Group made further progress with an improvement in its operating performance during the first nine months of 2007. Sales increased + 3.0% from the first nine months of 2006 (+ 4.2% at comparable Group structure and exchange rates). Current operating income rose + 4.7% (+ 8.6% at comparable Group structure and exchange rates) and net income from current operations + 3.0%.

Gérard Buffière said, "Since the start of 2007, the Group's main financial indicators have progressed, on the back of growing volumes and a further improvement in the product offering. Our recent acquisitions in emerging countries will soon contribute to our growth.

The Group's economic environment has nevertheless deteriorated since the end of the summer, with rises in several cost factors and a further slump in the US housing construction market. Moreover, US dollar continues to depreciate. Notwithstanding the impact of these factors on our current operating income, the Group maintains the objective of modest growth in net current income in 2007.

In 2008, I remain fully confident in the Group's ability to achieve the announced structural cost improvements, although fluctuations in exchange rates may reduce their contribution to our results."

http://www.imerys.com/