Umicore Group

(in million €) H1 2018 H2 2018 H1 2019
Turnover 6.354 7.362 7.581
Revenues (excluding metal) 1.684 1.587 1.634
Recurring EBITDA 364 356 357
Recurring EBIT 261 252 240
   of which associates 5 0 6
Non-recurring EBIT (6) (8) (3)
Total EBIT 256 244 236
Recurring EBIT margin 15,2% 15,9% 14,3%
Effective recurring tax rate 25,4% 23,4% 23,8%
Recurring net profit, Group share 163 163 151
Net profit, Group share 161 156 148
R&D expenditure 96 100 108
Capital expenditure 198 280 241
Net cash flow before financing (270) (335) (3)
Total assets, end of period 6.175 6.053 6.217
Group shareholders' equity, end of period 2.573 2.609 2.589
Consolidated net financial debt, end of period 429 861 1.059
Gearing ratio, end of period 14,1% 24,4% 28,6%
Average net debt / recurring EBITDA 87,1% 90,5% 134,5%
Capital employed, end of period 3.285 3.802 3.975
Capital employed, average 3.144 3.544 3.888
Return on capital employed (ROCE) 16,6% 14,2% 12,3%
Workforce, end of period (fully consolidated) 9.875 10.419 10.725
Workforce, end of period (associates) 3.370 3.180 3.203
Accident frequency rate 3,40 3,32 4,69
Accident severity rate 0,05 0,11 0,16