23 October 2014
Trading update Q3 2014
Umicore confirms guidance despite lower metal prices
Revenues were up 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.
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.