Umicore : Material profit warning….which is not entirely unexpected
>Adverse developments in Battery Materials - Due to mid nickel chemistry contracts ending sooner and delays in the scaling up of new contracts, Umicore is adjusting the EBITDA guidance for the Battery Materials unit from €135m positive to break-even (including a €50m one off), also indicating that volumes in 2024 will be lower than in 2023. As we had outlined in our April 29 note, the so called guard rails that Umicore referred to when discussing its contracts in Batt...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.