Umicore 1st Half Profit Rose; Updates Guidance

   By Giulia Petroni

Umicore SA on Friday said that profit rose in the first half and it updated its full-year guidance.

The Belgium-based materials technology and recycling company posted net profit of 400 million euros ($474.9 million) in the period, from EUR91 million a year earlier.

Adjusted earnings before interest, taxes, depreciation and amortization came in at EUR762 million from EUR376 million.

Revenue, excluding metals, was EUR2.15 billion from EUR1.56 billion a year earlier.

Umicore said it expects adjusted earnings before interest and taxes to slightly exceed EUR1 billion in the full year. It had previously forecasted adjusted EBIT to approach EUR1 billion. As previously announced, adjusted EBIT is expected to be lower in the second half compared to the first half, which benefited from an increase in precious metal prices.

The outlook for the second half includes effects from the planned maintenance shutdown in Hoboken, Belgium, and the impact semiconductor shortages.

At 0750 GMT, shares trade 2.1% higher at EUR53.84.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

July 30, 2021 04:19 ET (08:19 GMT)

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