The materials group Umicore has had a record year, as it turned out on Wednesday before the fair. Sales and profits spiked, “despite the severe disruption to global auto production in the second half due to the semiconductor shortage,” the company said.
Umicore’s automotive activities (catalysts, battery materials…) outperformed the market. In addition, the recycling activity benefited from high precious metals prices.
Full-year revenues rose 22 percent to EUR 4 billion. Operating profit was 81 percent higher at 971 million. In addition, there was an exceptional effect of precious metal prices of 270 million euros. In net terms, Umicore realized a profit of 667 million euros, more than doubling compared to 2020.
Umicore is optimistic again for this year, despite cost inflation and ongoing supply problems. But for two of the three divisions (Catalysis and Recycling), operating profit would not reach the record high in 2021. The Energy & Surface Technologies division would still show a small profit increase.
The company proposes a dividend of EUR 0.80 gross per share for 2021, of which EUR 0.25 was already paid last year.
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