Umicore anticipates its full-year adjusted earnings before interest and taxes (Ebit) to be in the range of €465-490 million ($542-571 million) on the condition that the ongoing spread of the pandemic will not lead to major new disruptions in operations or market demand. The company posted a recurring Ebit at €509 million in 2019
“Notwithstanding the devastating impact of the pandemic, Umicore is on track to post a solid performance in 2020… The long-term trends supporting Umicore’s strategy in clean mobility and recycling are more relevant than ever and I am convinced Umicore will come out of these challenging times well positioned and prepared for future growth,” Umicore chief executive officer Marc Grynberg said.
Sharp auto industry recovery aids catalysis performance
Umicore adjusted down its expectations for the rate of global car production decline to 20% for the full 2020, from 25% forecasted...