Umicore: down in the dumps after annual results
(CercleFinance.com) - The Umicore share is down 4.
7% in Brussels on Friday, after the group announced 2019 recurring net profit (group share) that is down 5% at 312 million euros, or 1.30 euro per share, even though recurring EBITDA rose 5% to 753 million euros.
Revenues of the Belgian materials technology and recycling group rose by 3% to 3.4 billion euros, even though there was a "backdrop of persisting headwinds in key markets, in particular the automotive sector".
Umicore offers a stable annual dividend at 0.75 euro, half of which was already paid last August, and confirms that it, "expects to grow revenues and earnings in 2020 despite a deterioration in the global macro-economic environment".
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