Umicore : 1H21 EBIT 19% beat; expect 2021 consensus up 4%
>1H21 adjusted EBIT 19% ahead of consensus - Umicore reported much better than expected 1H21 results. Revenues of € 2,150m were up 37% yoy and 2% above consensus (Vara). Adjusted EBIT of € 625m was up 157% yoy and 19% ahead of consensus. Catalysis revenues were up 59% yoy at € 908m and 7% ahead of consensus. Adjusted EBIT of € 204m was up 871% yoy and 29% ahead of consensus, mainly due to the recovery in automotive production and market share gains in the European and...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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