IMS: Turnover at 30Th June 2009

NANTERRE, France--(Business Wire)--
Regulatory News:

* Sales volume stable in 2nd quarter of 2009 compared to 1st quarter of 2009
* Inventories reduced by 90 million euros since 1st January 2009

IMS (Paris:IMS), European leader in the distribution of special steels, today
reported volumes distributed of 101,999 tonnes in the 2nd quarter of 2009,
stable compared to the 1st quarter of 2009 (-0.8%) and 45.9% lower than in the
2nd quarter of 2008. With prices falling in stainless steels (due to lower alloy
prices) as well as in engineering and wear resistant steels, sales for the
quarter were 177.1 million euros, 55.4% lower than in the 2nd quarter of 2008.

At 30 June 2009, sales were 389.0 million euros, 50.8% lower than in the 1st
half of 2008, with volumes distributed of 204,828 tonnes.

2nd quarter 2009 Stainless Engineering Wear resistant Others Total
Volume distributed (t) 27,454 52,178 14,698 7,669 101,999
Turnover (€ `000s) 83,503 60,924 24,573 8,101 177,101
Change in turnover 2009 vs 2008 -51.9% -57.8% -58.0% -60.7% -55.4%
Volume effect -22.8% -52.2% -48.1% ns -38.6%
Price effect -29.2% -5.3% -3.2% ns -16.0%
Scope effect +0.1% -0.4% -6.7% ns -0.8%

The priority given to reducing debt resulted in a drastic reduction in
procurement, which had a temporary negative effect on gross margins for the
quarter, due to a lower level of renewal of inventories which did not benefit
from lower prices.

Inventories were reduced to 182,000 tonnes at 30th June 2009, from 226,000
tonnes at 1st January; net debt was around 225 million euros at 30th June 2009,
meeting the banking covenants (debt limit of 245 million euros at 30th June
2009).

In view of current market conditions, IMS is targeting sales volumes in the 2nd
half substantially in line with those in the 1st half, whilst the windfall loss
in stainless steels is likely to come to an end.

IMS is a European leader in the distribution of wear resistant steel, stainless
steel and engineering steel. With a workforce of close to 2,200 staff in 17
European countries, IMS recorded 2008 turnover of 1.4 billion euros.

Listed on Euronext Paris - compartment B of the NYSE Euronext, member of the SBF
120 and Small 90 indices.

ISIN: FR0000033904 - Reuters: ITMT.PA - Bloomberg: IMS FP

www.ims-group.com

Financial schedule

31st August 2009: Publication of accounts to 30th June 2009

4th September 2009: Financial analysts` meeting (accounts to 30th June 2009)

IMS
Philippe Brun / Anne-Sophie Guyot
Tel. : +33 1 41 92 04 23
contact@ims-group.com
or
NewCap. - Investor Relations
Axelle Vuillermet / Emmanuel Huynh
Tel. : +33 1 44 71 94 94
ims@newcap.fr

Copyright Business Wire 2009