Umicore says that it expects its adjusted EBIT for 2021 to approach €1 billion, above current market consensus.
This assumes no decrease in demand patterns in the automotive industry or in the macro-economic environment, due for instance to the evolution of the pandemic, Umicore said.
The company’s Recycling business is expected to have earnings above prior year with strong growth across business units and regions, while Catalysis is expected to more than double adjusted EBIT compared to 2020 due to share gains in the Chinese and European light-duty gasoline markets, a favorable platform mix and the continued increase of gasoline engines at the expense of diesel engines within the mix in Europe.
Energy & Surface Technologies currently expects a slightly higher full year adjusted EBIT compared to the outlook provided in February, while in Rechargeable Battery Materials, volume growth is materializing as anticipated with stronger traction in Europe.
This story uses material from Umicore, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.