Imerys
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Imerys (NK) investor relations material

Imerys Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary29 Jul, 2026

Executive summary

  • H1 2026 revenue reached €1.74 billion, up 1.8% at constant exchange rates, driven by higher sales volumes despite subdued demand in some end markets.

  • Adjusted EBITDA grew 10% year-over-year at constant exchange rates to €290 million, with margin improving to 16.6%.

  • Net current free operating cash flow rose to €109 million, reflecting improved profitability, lower capex, and disciplined working capital management.

  • Strategic roadmap advanced with Project Horizon delivering €17 million in savings by June 2026 and completion of key acquisitions in the US (Great Lakes Minerals) and Brazil (SB Mineração).

  • Net income, Group share, was €49 million, down from €70 million in H1 2025, impacted by restructuring costs and one-off items.

Financial highlights

  • Q2 2026 revenue was €906 million, up 2.9% at constant exchange rates; H1 2026 revenue: €1.74 billion (+1.8% at constant FX).

  • Adjusted EBITDA: €290 million in H1 2026 (+10% year-over-year at constant FX); margin improved to 16.6%.

  • Net financial debt at June 30, 2026: €1,468 million, up €77 million from December 2025, mainly due to acquisitions and lease adjustments.

  • Net current free operating cash flow: €109 million in H1 2026.

  • Net income per share: €0.78, down from €0.98 in H1 2025.

Outlook and guidance

  • Full-year 2026 adjusted EBITDA targeted at €550–580 million, assuming no major macroeconomic or geopolitical deterioration.

  • Management remains focused on cost control, cash discipline, and strategic execution amid ongoing market uncertainties.

  • Guidance reflects caution due to energy price volatility, inflation risk, and potential interest rate hikes.

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