Profile

Imerys extracts, transforms, develops and combines a unique range of industrial minerals to provide functionalities that are key to its customers’ products and production processes. Additionally, Imerys is in the process of studying and developing mineral deposits to extract lithium (e.g., for electric vehicle batteries) in France and the UK.

8.0%
Portfolio value 12/31/2023
38.4%
Net dividend 12/31/2023
Investment case

The attractive and growing market for mineral-based specialty solutions benefits from structural tailwinds:

  • Green mobility & renewable energy, sustainable construction and natural solutions for consumer goods
  • Mission-critical nature of specialty minerals, which add essential properties to customers’ products, while representing only a small fraction of customers’ total costs

Imerys has an attractive profile:

  • #1 or #2 position in almost all its markets
  • Transformation towards higher (organic) growth and profitability through ongoing portfolio rotation and strategic projects
  • Potential over the medium term to become one of Europe’s primary lithium suppliers, playing a key role in the region’s energy transition
  • Resilient business model, further augmented by GBL’s support as a stable reference shareholder with a long-term investment horizon
  • Diversified exposure in terms of end markets and geographies
  • Strong cashflow generation to support of further growth
  • Board of Directors 3/12*
  • Strategic Committee 2/5*
  • Audit Committee 1/4*
  • Appointments Committee 1/3*
  • Compensation Committee 1/4*
* Number of GBL's representatives in statutory bodies in relation to the total number of members. Governance information is dated 12/31/2023, except where superseded by more recent public disclosures.
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Notice of threshold crossing Imerys (in French)
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