Umicore carried out a number of cost reduction measures in 2013, mainly in performance materials and to a lesser extent in energy materials.
Capital expenditures were €280 million, the majority of which related to growth programmes in catalysis, energy materials and recycling. It also invested in heavy duty diesel catalysis and in rechargeable battery materials. Research & development expenditure amounted to €141 million.
“Although the global economy remains in a state of flux, some of our markets are starting to show signs of recovery,” said Marc Grynberg, CEO. “A number of Umicore’s activities have also taken steps to improve their competitiveness and the benefits thereof have started to make themselves felt. While metal prices may prove less favourable for us this year, the long-term trends that make our products and services so valuable remain very much intact. We will continue to provide our businesses with the means to deliver on their undoubted potential."