Imerys shares fall 2%, among the largest declines in the SBF 120
The industrial minerals specialist falls sharply mid-session, in a nearly stable Paris market. The decline comes about two weeks after it raised its annual forecast and erases part of a very well-oriented month.
A 2% decline that places the stock among the largest decliners in the SBF 120
Imerys falls 1.96% to €25.00, while the SBF 120 remains stable (+0.01%) and the CAC 40 is flat.
The stock is among the largest decliners in the index, behind Eramet, Exosens and DBV Technologies. This drop extends the weekly decline (-2.72% over seven days), but does not call into question the monthly gain of +13.53%.
On October 29, the group had raised its 2026 adjusted EBITDA forecast, now between €570 and €590 million compared with €550 to €580 million previously, subject to no significant deterioration in the operating environment.
At that time, the company cited among its opportunities the progress of its Horizon cost-improvement project and 16% growth in the Graphite and Carbon business.
A price still well above its averages, near resistance at €25.80
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Despite the day's decline, the price remains 5% above its 20-day moving average (€23.81) and 9.36% above its 200-day moving average (€22.86), a sign that the recovery of recent weeks is not yet over. Three weeks ago, on October 22, the stock had broken through its 30-session floor at €21.86, before the nine-month results revived the movement. The RSI at 61 remains in an intermediate zone.
Resistance stands at €25.80, less than 3.3% above the current price, and support at €21.40.
On the economic front, construction sentiment is declining in France (-20.9) as well as in the euro zone, an environment the group itself cites among its risks, along with weak demand in the building sector. The next technical analysis benchmark is therefore the €25.80 resistance.
« Imerys revoit à la hausse ses prévisions pour l'exercice 2026, après trois trimestres consécutifs de croissance » ; « Ces performances confortent notre décision de relever notre prévision d'EBITDA ajusté pour l'exercice 2026 »
Risks mentioned
Pressions inflationnistes et conditions de marché difficiles persistantes notamment en Europe
Faiblesse de la demande dans le secteur de la construction et exposition au secteur de la céramique
Impact des variations des taux de change et des quotas de l'UE sur l'importation d'aciers chinois
Opportunities identified
Montée en cadence de l'intégration de Great Lakes Minerals et S&B Mineração contribuant déjà aux résultats
Excellente performance de l'activité Graphite et Carbone avec croissance de 16% portée par les véhicules électriques et stockage d'énergie
Amélioration continue des marges grâce au projet Horizon d'amélioration des coûts en avance sur le calendrier
Outlook / guidance
Expected EBITDA: 580 millions d'euros
Management commentary: « Imerys revoit donc à la hausse sa prévision d'EBITDA ajusté pour l'exercice 2026 : elle devrait désormais être comprise entre 570 et 590 millions d'euros, sous réserve de l'absence de dégradation significative de l'environnement opérationnel actuel. »
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
