Umicore has posted half year revenues of €1,348.9 million (excluding metal) compared to €1,207.2 million in 2014, reflecting strong growth in Catalysis and Energy & Surface Technologies.
Umicore's growth investments remained on track and capital expenditures amounted to € 100 million, the company says.
Major investments were successfully carried out in the Hoboken plant during an extended shutdown in the second quarter, as part of the program to increase capacity by 40%. The next investment wave will be completed by the end of the summer.
Revenues for Cobalt & Specialty Materials rose significantly compared to the same period in 2014, benefiting from the successful integration of last year’s acquisitions and higher sales volumes in different product groups, while revenues in ceramics and chemicals reflected the successful integration of the distribution activities in Europe.
However, the earnings contribution Umicore’s tungsten business, Element Six Abrasives was lower. Trading conditions were challenging and revenues were under severe pressure following the sharp contraction in drilling activity in the oil and gas sector and – to a lesser extent – currency headwinds.
This story is reprinted from material from Umicore, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.