Umicore Group

(in million €) 2018 - H2 2019 - H2 2018 2019
Turnover 7.362 9.904 13.717 17.485
Revenues (excluding metal) 1.587 1.726 3.271 3.361
Recurring EBITDA 356 396 720 753
Recurring EBIT 252 269 514 509
   of which associates 0 5 5 11
Non-recurring EBIT (8) (26) (14) (30)
Total EBIT 244 243 500 479
Recurring EBIT margin 15,9% 15,3% 15,5% 14,8%
Effective recurring tax rate 23,4% 25,5% 24,4% 24,7%
Recurring net profit, Group share 163 161 326 312
Net profit, Group share 156 139 317 288
R&D expenditure 100 102 196 211
Capital expenditure 280 312 478 553
Net cash flow before financing (334) (268) (604) (271)
Total assets, end of period 6.053 7.023 6.053 7.023
Group shareholders' equity, end of period 2.609 2.593 2.609 2.593
Consolidated net financial debt, end of period 861 1.443 861 1.443
Gearing ratio, end of period 24,4% 35,2% 24,4% 35,2%
Net debt / recurring EBITDA 120% 267% 119% 192%
Capital employed, end of period 3.802 4.442 3.802 4.442
Capital employed, average 3.544 4.208 3.344 4.048
Return on capital employed (ROCE) 14,2% 12,8% 15,4% 12,6%
Workforce, end of period (fully consolidated) 10.419 11.152 10.419 11.152
Workforce, end of period (associates) 3.180 2.976 3.180 2.976
Accident frequency rate 3,32 4,60 3,36 4,60
Accident severity rate 0,11 0,16 0,10 0,20