Umicore 2017 results give reasons for optimism

Financial results for 2017 at multinational minerals technology company Umicore contained several items that bode well for the future of the Belgium-based company, chief executive officer Marc Grynberg told Industrial Minerals at a media breakfast in London on Monday February 12.

Margins and returns have improved quite significantly, and the company expects to show notable growth in 2018 and the years to come. Umicore’s turnover rose in 2017 to €12.28 billion ($15.07 billion), compared with €11.09 billion in 2016, excluding transactions with discontinued operations. Meanwhile, revenues excluding metal increased to €2.92 billion in 2017 from €2.67 billion in 2016. The very strong performance of Umicore’s segments involved in automotive catalysis, energy and surface technologies, and recycling contributed to the company’s overall solid performance. The automotive catalysis segment accounted for 45% of the company’s revenues, while energy and surface technologies contributed 35% and recycling 23%. All these percentages refer to overall company revenues excluding metal. High demand for the company’s cathode materials, which are used in lithium-ion (Li-ion) batteries in applications such as transportation and energy storage, was also noted during the media meeting. To respond to increasing customer demand, Grynberg said, Umicore will further expand its...

Published

Martim Facada

February 13, 2018

14:25 GMT

London