Imerys (NK) AGM 2026 summary

Opening remarks and agenda

• The meeting was opened with introductions of key executives and board members, including the new CFO and candidates for board positions.

• Legal formalities for convening the meeting and making documents available to shareholders were confirmed.

• The quorum was achieved, and scrutineers were appointed to oversee the voting process.

Financial performance review

• Revenue for 2025 was EUR 3.4 billion, nearly flat year-over-year, with stable prices but lower volumes.

• Adjusted EBITDA reached EUR 546 million, with a margin of 16.1%, reflecting strong cost control.

• Net income was negative EUR 409 million, mainly due to a EUR 467 million goodwill impairment in the RAC segment.

• Free cash flow before strategic CapEx was EUR 127 million; after CapEx, EUR 78 million.

• Net financial debt increased slightly, but the investment-grade rating was confirmed.

Board and executive committee updates

• Pierre Lebreuil was introduced as the new CFO, bringing 20 years of experience.

• Johannes Huth and Michael Ogrinz were presented as new board members, with their appointments ratified by shareholders.

• Annette Messemer and Ian Gallienne stepped down from the board, with thanks for their service.