Umicore Group

(in million €) H2 2017 H2 2018 2017 2018
Turnover* 5 808 7 362 12 277 13 717
Revenues (excluding metal) 1 462 1 587 2 916 3 271
Recurring EBITDA 303 356 599 720
Recurring EBIT 207 252 410 514
   of which associates 18 0 30 5
Non-recurring EBIT (32) (8) (46) (14)
IAS 39 effect on EBIT (18)             -   (21)             -  
Total EBIT 157 244 343 500
Recurring EBIT margin 12.9% 15.9% 13.1% 15.5%
Effective recurring tax rate 25.7% 23.4% 25.7% 24.4%
Recurring net profit, Group share 133 163 267 326
Net profit, Group share 93 156 212 317
R&D expenditure 86 100 175 196
Capital expenditure 225 280 365 478
Net cash flow before financing (230) (335) (381) (604)
Total assets, end of period 5 116 6 053 5 116 6 053
Group shareholders' equity, end of period 1 803 2 609 1 803 2 609
Consolidated net financial debt, end of period 840 861 840 861
Gearing ratio, end of period 31.1% 24.4% 31.1% 24.4%
Net debt / recurring EBITDA 183% 120% 140% 119%
Capital employed, end of period 3 004 3 802 3 004 3 802
Capital employed, average 2 861 3 544 2 710  3 344
Return on capital employed (ROCE) 14.4% 14.2% 15.1% 15.4%
Workforce, end of period (fully consolidated) 9 769 10 419 9 769 10 419
Workforce, end of period (associates) 3 360 3 180 3 360 3 180
Accident frequency rate** 3.06 3.32 3.01 3.36
Accident severity rate** 0.09 0.11 0.09 0.10

*Including the elimination of the transactions between continued and discontinued operations

**excluding Building Products for 2017

This version of the 2018 financial data contains certain adjustments compared to the preliminary statements included in the version published on February 8th 2019. We refer to the note on page 90 of the annual report for a description of these adjustments.