Umicore says that its full year revenues grew by 22% to €4.0 billion, with adjusted EBIT increasing 81% to €971 million.

Revenues in the company’s Catalysis business reportedly reached ‘record levels with strong growth’, while revenues and earnings in Energy & Surface Technologies increased, reflecting higher sales volumes of EV cathode materials in its provision of rechargeable battery materials, cobalt and specialty materials and metal deposition products.

Umicore’s Recycling business also posted record revenues and earnings above the previous record levels of 2020.

The company said that it expects a strong underlying performance in 2022 across all of its business groups, as long as geopolitical developments, the pandemic or supply-chain constraints do not result in additional material disruptions to the economy or Umicore’s operations.

“We have already made significant progress in preparing Umicore for its next chapter of growth and are further strengthening our competitive leadership positions in the different value chains,” said Mathias Miedreich, CEO.