25 April 2017

Trading update Q1 2017

Highlights

Revenues from continued operations increased 13%, reflecting strong growth particularly in activities related to clean mobility.

In Catalysis, revenues increased by 9%, largely driven by growth in sales of automotive catalysts for both light-duty vehicles and heavy-duty diesel applications. The 29% revenue increase in Energy & Surface Technologies reflected substantial growth in sales of cathode materials used in rechargeable batteries for the transportation segment and – to a lesser extent – higher demand and prices in the cobalt and nickel related businesses. Revenues in Recycling increased by 4% with growth in all activities.

Umicore’s strategic growth investments in clean mobility materials and recycling are progressing according to plan. The expansion to triple capacity for cathode materials in China and Korea by the end of 2018 is underway and the new capacity will gradually come on stream starting in the second half of 2017.

Umicore has reached a resolution with BASF and Argonne over NMC patent infringement claims.

Umicore has successfully completed a € 330 million private debt placement, thereby diversifying its sources of debt financing and extending the duration of its debt profile.

Outlook

Umicore expects full year recurring EBIT to be in a range of € 370 million to € 400 million assuming current market conditions continue to prevail. Excluding discontinued operations, this equates to a range of € 355 million to € 385 million and would represent an increase of 11% to 20% compared to 2016.

 

Note: All comparisons are made with the first quarter of 2016, unless mentioned otherwise.


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Tag: Corporate

Tweets

  • @UmicoreGroup  May 23
    Umicore in exclusive negotiations with Fedrus International for sale of VMZINC. #VMZINC https://t.co/zl3OKj73UZ
  • @UmicoreGroup  May 8
    Umicore bringing cathode materials production to another dimension #electriccars https://t.co/KCIveqwPfc
  • @UmicoreGroup  Apr 25
    Umicore reaches resolution in US patent dispute with BASF and Argonne. https://t.co/z3s2PM7F92
  • @UmicoreGroup  Apr 25
    Umicore Q1 revenues up 13%. Full year EBIT expected to be up 11-20%. https://t.co/z3s2PM7F92
  • @UmicoreGroup  Apr 10
    Umicore on French TV M6 enquête exclusive https://t.co/SuqUwZOKiw
  • @UmicoreGroup  Mar 28
    Umicore’s Argentinian facility for anticancer APIs passes new European cGMP audit https://t.co/PKQNBnCpjr
  • @UmicoreGroup  Mar 24
    Umicore's 2016 Annual report "Elements for Success" has just been published https://t.co/QLAy0mupmg
  • @UmicoreGroup  Mar 23
    Umicore supporting the transition to a circular economy https://t.co/rnh0fUShdQ
  • @UmicoreGroup  Mar 9
    Green Car Congress: Launch of project ECO COM'BAT to develop more sustainable and high-voltage Li-ion batteries https://t.co/GMsyD7kUn0
  • @UmicoreGroup  Mar 7
    #CE8 #CircularEconomy @Europarl_EN https://t.co/ZcCPRGdUKp
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