Umicore : Old economy outperforming new economy
>2H20 adjusted above market expectations, but driven by ‘old economy’ - On 11 February, Umicore reported 2H20 results that were above market expectations. Adjusted EBIT of EUR 293m was up 9% yoy and 3% ahead of consensus (Vara). Underlying, however, there was a marked difference between the segments. ‘Old economy’ such as Catalysis and Recycling drove the beat, while ‘new economy’ Energy & Surface Technologies (E&ST) disappointed again. As a result, E&ST only contribu...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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