Umicore reports that revenues were up 10% compared to the third quarter last year, with strong underlying growth in its Catalysis and Energy and Surface Technologies businesses offsetting the impact of lower metal prices on the recycling activities.
Growth in Catalysis was driven mainly by positive volume and product mix effects in Automotive Catalysts, the company said. The revenue increase in Energy and Surface Technologies reflected solid volume growth in Rechargeable Battery Materials and higher revenues in Cobalt and Specialty Materials. Revenues in Recycling were impacted by lower metal prices and the extended shutdown in Precious Metals Refining.
Growth investments in Automotive Catalysts and Rechargeable Battery Materials are on or ahead of schedule. The program to increase capacity by 40% in Hoboken is on track.
Umicore expects its full year recurring EBIT to be towards the middle of the previously stated range of € 310 million to € 340 million.
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.
