Profile
Imerys extracts, transforms, develops and combines a unique range of minerals to provide functionalities that are key to its customers' products and production processes. These specialities have a very wide range of uses and are becoming increasingly common on growing markets.
8.2 %
Portfolio value 06/30/2021
21.7 %
(1) Net dividend 12/31/2020
Excluding the reimbursements by the French tax authorities of withholding taxes which had been applied to Total and ENGIE dividends
Investment case
Growing market benefiting from structural advantages:
- High added value functional solutions providing key properties to customers’ products
- Low dependency on fluctuations in commodity prices
- Low substitution risk notably due to the limited proportion in the customers’ total costs.
Imerys is a worldwide leader and presents an attractive profile:
- Leader in its sector: #1 or #2 in almost all its markets
- Ongoing transformation plan towards a simpler and more customer-centric organization aiming at accelerating organic growth and improve operating profitability
- Resilience of the business model, notably stemming from GBL’s support as a stable reference shareholder having a long-term investment horizon
- Diversity in terms of geographies and customers’ end-markets
- Strong cash-flow generation in support to external growth
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Board of Directors 3/12*
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Strategic Committee 3/6*
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Audit Committee 1/4*
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Appointments Committee 1/3*
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Compensation Committee 1/4*
- Board of Directors Strategic Committee
- Board of Directors Strategic Committee Appointments Committee Compensation Committee
- Board of Directors Strategic Committee Audit Committee
* Number of GBL's representatives in statutory bodies in relation to the total number of members. Governance information is dated 12/31/2020, except where superseded by more recent public disclosures.
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