Umicore : More realism but still quite a bit of uncertainty remains
>Battery Material woes result in material lower 2024-2026 estimates - We have adjusted our 2024 estimates for E&ST, in line with the updated guidance for Battery Materials and we are now, for Umicore as a whole, at €768m, the lower end of the updated 2024 adj. EBITDA guidance of €760m to €800m. The faster than expected decline in volume from mid-nickel chemistry contracts and the slower ramp-up (or delays) of the high nickel chemistry contracts also impacts our 2025 a...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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