Umicore : Exceptional earnings growth on the back of soaring precious metal prices
>2021 adjusted EBIT close to € 1bn, up 86% yoy and 46% above consensus - Umicore issued an unexpected trading update in which it guides for significantly higher earnings growth in 2021. The company guides for adjusted EBIT to approach € 1bn. This would imply an increase of 86% yoy and is 46% above consensus (Vara). This massive increase in earnings is predominantly driven by soaring precious metal prices, which is mainly benefitting Recycling. The strong price increas...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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