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
  • Board of Directors 3/12*
  • Strategic Committee 3/6*
  • Audit Committee 1/4*
  • Appointments Committee 1/3*
  • 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