April 29, 2020 / 4:54 PM / a month ago

BRIEF-Imerys Q1 Net Income Group Share Down At 44 Million Euros

April 29 (Reuters) - IMERYS SA:

* Q1 REVENUE DOWN -7.5% AT CONSTANT SCOPE AND EXCHANGE RATES TO €1,029 MILLION, INCLUDING A €34 MILLION (-3,3%) ADVERSE IMPACT FROM COVID-19

* Q1 CURRENT EBITDA MARGIN AT 16.0% AND CURRENT​ ​OPERATING MARGIN AT 8.0% SUPPORTED BY A POSITIVE PRICE MIX OF +1.0% AND REDUCTION IN FIXED COSTS AND OVERHEADS

* THE GROUP HAS A STRONG BALANCE SHEET AND ACCESS TO SIGNIFICANT LIQUIDITY OF €1.8 BILLIONAS OF MARCH 31ST,2020

* COVID-19 HAD A LIMITED IMPACT ON PAPER MARKETS AMID STRUCTURALLY DECLINING DEMAND, AND THE CONSTRUCTION SECTOR DEMONSTRATED RESILIENCE OVERALL, BEFORE LOCKDOWN MEASURES BECAME EFFECTIVE IN MARCH

* IMERYS IS EXPERIENCING SOME DISRUPTIONS IN ITS COMMERCIAL AND INDUSTRIAL OPERATIONS DUE TO LEGAL CONTAINMENT MEASURES ORDERED BY LOCAL AUTHORITIES, A DECLINE IN DEMAND, AND/OR SUPPLY AND LOGISTICAL DIFFICULTIES

* SAYS CHALLENGING MARKET CONDITIONS WILL PREVAIL, IN PARTICULAR IN THE SECOND QUARTER

* Q1 NET INCOME GROUP SHARE EUR 44.0 MLN VS EUR 67.2 MLN YR AGO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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