By Liz Nickels
Positive developments in most of the product related businesses were offset by the effects of lower metal prices in recycling and, to a lesser extent, currency headwinds, it said.
In Umicore's catalysis segment, revenues grew by 4% driven by global automotive production. Energy materials revenues were up by 26% with all business units recording growth, particularly rechargeable battery materials. Performance materials revenues were down by 1% with improvements in the two zinc-related business units offsetting somewhat less favourable conditions in the other activities. Recycling revenues were down by 16% with lower received precious metals prices impacting most business units coupled with lower volumes in the precious metals refining operations.