Imerys is the world leader in mineral-based specialty solutions for industry
Share capital (12/31/2019) 54.0 %
Voting rights (12/31/2019) 67.6 %
Stake value (12/31/2019) € 1,617 M
Dividend (12/31/2019) € 92.1 M
Investment year
1987
Business area
Speciality Minerals
Sales
€ 4,355 M
Employees
16,300
Registered office
Paris, France
 
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.

Portfolio value 12/31/2019
7.8 %
Net dividend 12/31/2019
18.9 %

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
  • Board of Directors Strategic Committee Appointments Committee Remuneration Committee
  • Board of Directors Strategic Committee Appointments Committee Remuneration Committee
  • Board of Directors Strategic Committee Audit Committee
  • Board of Directors 3/13*
  • Strategic Committee 3/7*
  • Audit Committee 1/4*
  • Appointments Committee 2/5*
  • Remuneration Committee 2/6*