Brussels — Revenues and recurring ebit for Recycling were slightly higher year-on-year, with the positive impact of higher processed volumes and more supportive metal prices partly offset by lower commercial terms in the second half of the year. Profitability in Recycling remains very strong and will be further supported by the gradual ramp-up of additional capacity in Hoboken, Umicore`s new annual report 2017 sums up.
Contribution by business group showed well balanced contributions to the overall result. Revenues in Energy & Surface Technologies increased by 46 percent, reflecting strong volume growth and fast ramp-up of new production capacity in Rechargeable Battery Materials and – to a lesser extent – volume growth in Cobalt & Specialty Materials. Revenues and recurring ebit for Catalysis increased by 8 percent and 9 percent respectively, reflecting higher sales of heavy- duty diesel catalysts, the positive impact of the full consolidation of Ordeg and higher volumes in the Precious Metals Chemistry business unit.
In the recycling business group, Umicor reached revenues of €650 m, recurring ebit of €128 m and ROCE of 26 percent in 2017. The activities showed a ramp-up of the additional capacity in Hoboken, Belgium. Precious metals refining reached a higher overall level of processed volumes than in 2016. The annual report indicates a continued conflict-free smelter certification of all Umicore smelters for gold. Divestment of Technical Materials in Europe is ongoing.
„In 2017, we made significant strides towards the ambitious targets that we had set ourselves as part of the Horizon 2020 strategy. We accelerated growth investments in rechargeable battery materials, simplified the portfolio of activities and made further progress in terms of environmental performance and sustainable supply. All of that while achieving record results“, the report balances.
More information can be found under annualreport.umicore.com.
Source: Umicore
