Resumen de Bolt-ons deliver 11% revenue growth for Imerys
Imerys attributed the current, inclusive revenue increase partly to "group structure effect", referring to the integration since 1 March 2015 of Greek miner S&B and bolt-on acquisitions in monolithic refractories and carbonates, which it said added around EUR 238.3m to its sales. A positive exchange rate effect of EUR 188.1m, related to the decline of the euro against the US dollar in particular, also boosted revenue. "The performances achieved to the end of September show that external growth is earnings-enhancing and that S&B's integration has started to deliver the expected synergies," [Gilles Michel] said.
Revenue for Imerys' energy solutions and specialities segment, which includes its proppants business, dropped by 6% on a like-for-like basis so far this year to EUR 950.2m, from EUR 963.1m last year. For Q3, the decline was even sharper, at 9.7%, to EUR 314.1m from EUR 338.9m a year ago.
High resistance materials, which covers products Imerys sells mainly into steel, glass, foundry and aluminium markets, recorded a 7.2% drop in like-for-like revenue and a 0.6% rise in current revenue for the first three quarters of 2015 to EUR 486.2m, from EUR 483.1m last year. Third quarter revenue fell 3.4% like-for-like but increased 1.1% on a current basis to EUR 156m from EUR 154.2m a year ago.
