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 in growing markets.

8.6 %
Portfolio value 12/31/2022
18.2 %
Net dividend 12/31/2022
Investment case

The growing market is benefiting from structural advantages:

  • Attractive long-term growth underpinned by key megatrends: green mobility & renewable energy, sustainable construction and natural solutions for consumer goods
  • Specialty mineral solutions which add key properties to customers' products
  • Strong pricing power, being able to pass through most fluctuations in input costs
  • Low substitution risk, notably as these specialties only represent a small fraction of customers’ total costs.

Imerys is a worldwide leader with an attractive profile:

  • Leader in its sector: #1 or #2 in almost all its markets
  • Ongoing transformation plan towards a more customer-centric organization, aiming to accelerate organic growth and improve profitability (through portfolio rotation & strategic growth projects)
  • Potential to become one of the primary European lithium suppliers over the medium term, making it excellently equipped to become a key player in the energy transition
  • Resilience of the business model, further augmented by GBL’s support as a stable reference shareholder with a long-term investment horizon 
  • Diversity in terms of geographies and customers’ end-markets
  • Strong cashflow generation in support to external growth.
  • Board of Directors 3/12*
  • Strategic Committee 2/5*
  • 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 Audit Committee
* Number of GBL's representatives in statutory bodies in relation to the total number of members. Governance information is dated 12/31/2021, except where superseded by more recent public disclosures.
Data center
Notice of threshold crossing Imerys (in French)
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