Breaking Down Imerys S.A. Financial Health: Key Insights for Investors

From its founding in 1880 to its current footprint across 39 countries with over 13,700 employees, Imerys S.A. marries a long heritage in specialty minerals with a forward-driving mission to "unlock better futures" - a promise reflected in measurable commitments like a target of carbon neutrality by 2030 and a 42% reduction in Scope 1 and 2 greenhouse gas emissions by 2030 (2021 base year); strategic moves such as the January 2025 acquisition of Chemviron's European diatomite and perlite business (≈€50 million revenue in 2024) and a focused investment of €75 million in R&D in 2023 underpin a vision to lead the specialty minerals sector through innovation, digitalization and sustainable growth while core values - "Every person matters," "Partner of choice," "Strive for better," "One team together," "Enablers of tomorrow," and "Collaborating for better results" - drive practical action across high-growth markets.

Imerys S.A. (NK.PA) Intro

• Global footprint: 39 countries
• Workforce: >13,700 employees
• Founded: 1880

• Targeting high-growth specialty markets and bespoke mineral solutions for advanced industrial applications.
• Recent acquisition: Chemviron's European diatomite and perlite business (Jan 2025) - business generated approximately €50 million in revenue in 2024.
• Active capital allocation to bolt-on acquisitions that enhance technical portfolio and geographic coverage.

• Carbon neutrality target: 2030 (group-wide goal).
• GHG reduction: 42% reduction in Scope 1 and 2 emissions by 2030 vs. 2021 base year.
• Ongoing investments in energy efficiency, low-carbon processes and product stewardship across operations.

• R&D investment: €75 million in 2023 to accelerate product and process innovation.
• Focus areas: functional fillers, filtration minerals, lightweighting solutions for mobility, and circularity in raw material sourcing.

• Mission: Deliver specialty mineral solutions that improve industrial performance while minimizing environmental footprint and supporting circular economy principles.
• Vision: Be the global reference for sustainable specialty minerals, combining technical excellence, operational resilience and low-carbon leadership.
• Core values: Safety-first culture, customer-centric innovation, operational excellence, integrity, and sustainability-driven decision making.

• Diversified portfolio across resilient end-markets supports cash flow stability and selective growth.
• R&D and targeted acquisitions (e.g., Chemviron business) strengthen technological differentiation and margin potential.
• Sustainability targets (2030 carbon neutrality; 42% Scope 1 & 2 reduction) are material drivers of capital allocation and operational transformation.

Imerys S.A. (NK.PA) Overview

• Commitment: Integrates sustainability into core business strategy-linking profitability with environmental and social outcomes.
• Scope: Applies across the value chain-from mining and processing to specialty solutions for manufacturing, construction, energy, and mobility.
• Longevity: Emphasizes durable benefits for employees, customers, communities, and ecosystems through innovation and responsible operations.

• Decarbonization: Multi-decade ambition toward net-zero by 2050 with interim CO2 reduction targets for 2030 embedded in capital planning and operational efficiency programs.
• Circularity & resource-efficiency: Investment in recycling, alternative raw materials, and process optimization to lower lifecycle impacts of mineral products.
• Safety & People: Continuous improvement in occupational safety, upskilling programs, and local community engagement across mining and processing sites.
• Customer-driven innovation: Development of higher-performance and lower-impact mineral solutions for battery materials, ceramics, polymers, and building materials.

Imerys S.A. (NK.PA) - Mission Statement

• People: attract, develop and retain technical and operational talent across ~11,000 employees globally (2023, approx.).
• Customers: provide high-value mineral solutions to industries including construction, paints & coatings, plastics, paper, and electronics.
• Markets & Growth: prioritize expansion in higher-growth end-markets such as electric vehicles, battery materials, and advanced ceramics.

• Innovation & Digitalization: accelerate product and process digitization to improve R&D cycles, predictive maintenance, and customer service platforms.
• Sustainability Integration: target reduction of scope 1 & 2 emissions and increased circularity in product portfolios.
• Holistic Growth: align capital allocation to higher-margin specialty segments and geographic markets with faster demand growth.

• Capital allocation: prioritize high-value specialty minerals and solutions that deliver higher margins and resilience to commodity cycles.
• Operational excellence: deploy digital tools (IIoT, predictive analytics) to raise asset uptime and reduce energy intensity.
• Sustainability targets: aim to reduce carbon intensity across operations and increase recycled/raw material substitution in formulations.
• Customer partnerships: move from product sales to integrated solutions and services, improving lifetime value and recurring revenue streams.

Imerys S.A. (NK.PA) - Vision Statement

• Every person matters - fostering safety, inclusion and development for ~15,000 employees globally (2023 headcount).
• Partner of choice - deepening long-term contracts with industrial customers across automotive, construction, coatings, plastics and energy.
• Strive for better - continuous improvement targets including margin expansion (adjusted EBITDA margin target improvements of several hundred basis points over medium term).
• One team together - global collaboration across ~100 production sites and research centers to scale best practices.
• Enablers of tomorrow - prioritizing R&D and capex into decarbonization, recycled materials and high-performance additives.
• Collaborating for better results - co-development with OEMs and tier suppliers to accelerate product adoption and customer value creation.

• Accelerate specialties growth - shift portfolio mix toward higher-value mineral solutions and increase recurring revenues.
• Decarbonization roadmap - reduce scope 1 & 2 emissions through energy efficiency, fuel switching and electrification investments; aim for progressive absolute reductions inline with science-based targets.
• Customer centricity - scale bespoke formulations and technical support to increase customer retention and price capture.
• Operational excellence - standardize best practices across plants to improve fixed-cost absorption and working capital efficiency.
• M&A and bolt-ons - pursue value-accretive acquisitions that expand specialties and geographic presence while preserving balance sheet strength.

• Safety & talent: invest in training and local development programs to reduce lost-time injury frequency rate (LTIFR) year-on-year.
• Partnering: increase share of long-term supply agreements and collaborative development projects with top-tier customers.
• Continuous improvement: deploy lean programs to target specific margin uplift and cash conversion improvements.
• Innovation & sustainability: allocate R&D and capex to projects expected to deliver both emissions reductions and addressable market growth.