Revenues were up slightly (+1%) compared to the same period in 2013.
Revenue growth in Catalysis was driven by the sales of catalysts for heavy duty diesel applications. Energy Materials’ growth was primarily due to higher revenues in the Cobalt & Specialty Materials activities. Revenues in Performance Materials were down mainly due to lower activity in the European construction sector. Recycling revenues were up as a result of higher processed volumes. The investments made in the Hoboken recycling plant during the summer were completed successfully and the throughput at the plant has been increased.
Operational cashflows remained strong. Net debt was higher at the end of the quarter, due in large measure to interim dividend payments.
Outlook
Umicore continues to expect full year recurring EBIT to be in the upper half of the range of € 250 million to € 280 million as stated at the end of July.
Note: All comparisons are made with the third quarter of 2013, unless mentioned otherwise.
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