Umicore : 1H21 very strong, but do not extrapolate
>1H21 adjusted EBIT 19% above consensus - On 30 July, Umicore reported 1H21 results that were well above market expectations. Adjusted EBIT of EUR 625m was up 157% yoy and 19% ahead of consensus (Vara). This beat was driven by all segments with Catalysis and Recycling posting the largest absolute beats, as they benefitted from an exceptional additional contribution linked to higher precious metal prices, in particular rhodium.Catalysis well above expectat...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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