Umicore : FY23 results
>FY23 results were slightly below our expectations but with silver linings - Umicore’s FY 23 results were slightly below our expectations with FY23 sales (€3.87bn) coming at 6% below Vara consensus of (€4.1bn). Similarly adjusted EBITDA and adj. EBIT came in 2% below Vara consensus each. Moreover, adj. net profit was slightly higher than expected, coming at €447m, which was 4% above Vara consensus. Net debt surprised largely at €1.26bn, 11% below Vara consensus of €1...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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