In early February Umicore indicated that it expected to achieve substantial growth in earnings in 2021, with all business groups contributing to the growth. Based on the performance to date and current demand visibility, and assuming precious metal prices remain around the levels seen in the first quarter of the year,
Compared to 2020, this full year outlook incorporates on a like-for-like basis an exceptional additional contribution of roughly € 250 million linked to higher precious metal prices.
Recycling is expected to be the main beneficiary from the aforementioned metal pricing benefit, resulting in exceptional earnings well above prior year1 with strong growth across business units and regions. Umicore’s ability to process growing volumes of complex PGM rich materials enables to take full advantage of current exceptional market conditions.
Catalysis is expected to more than double adjusted EBIT compared to 20202 on the back of sustained market outperformance through share gains in the Chinese and European light-duty gasoline markets, a very favorable platform mix and the continued increase of gasoline engines at the expense of diesel engines within the mix in
Energy & Surface Technologies currently expects a slightly higher full year adjusted EBIT compared to the outlook provided in February3. In Rechargeable Battery Materials, volume growth is materializing as anticipated with particularly strong traction in
Corporate costs are foreseen to increase to approximately € 70 million reflecting a step-up in research activities related to the technology roadmap and digitalization initiatives, as previously announced.
The strong price increase in precious metals, PGMs in particular, is resulting in increased working capital requirements for the Group, especially in Catalysis, thereby impacting free cash flows.
For more information
Investor Relations
Saskia Dheedene +32 2 227 72 21 saskia.dheedene@umicore.com
Media Relations
Financial calendar
29 April 2021 First quarter 2021 business update
29 April 2021 Annual General Meeting
3 May 2021 Ex-dividend trading date
4 May 2021 Record date for the dividend
5 May 2021 Payment date for the dividend
30 July 2021 Half year results 2021
About
Umicore’s industrial and commercial operations as well as R&D activities are located across the world to best serve its global customer base. The Group generated revenues (excluding metal) of € 3.2 billion (turnover of € 20.7 billion) in 2020 and currently employs 10,800 people.
1 Recycling adjusted EBIT stood at € 362 million in 2020.
2 Catalysis adjusted EBIT stood at € 154 million in 2020.
3
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