Umicore FIRST LOOK: 1H adj EBITDA +10%, recently upped guidance reiterated
1H25 adj. EBITDA increased by 10% to 433m and Umicore reiterated the (recently upgraded) FY25 adj EBITDA guidance of 790-840m (+7% y/y at midpoint), reflecting oa the progress with efficiency improvement measures and advantageous metal prices. Umicore is a combination of different tales, with the foundation businesses (Catalysis, Recycling, Specialty Materials) mainly run for their cash generation potential whilst Battery Materials remains a potential growth driver, although Umicore does not intend to spend much additional capex alone beyond finishing earlier started expansion investments. Partnership agreements might be a next share price catalyst and together with a still attractive valuation prompt us to maintain our Accumulate rating and € 16 target price.Umicore is global player in the materials technology and recycling industries. Co. focuses on application areas such as chemistry, materials science, metallurgy and recycling. Co.'s business model comprises four segments: Catalysis, Performance Materials, Energy Materials and Recycling. Catalysis focuses on the abatement of global automotive emissions; Performance Materials focuses on materials that help develop more sophisticated and safer products; Energy Materials produces materials used in the production and storage of clean energy including rechargeable batteries and photovoltaics; and Recycling treats complex waste streams containing precious and other non-ferrous metals.
We are a financial services provider for several types of professional clients, each with distinct needs.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.