Umicore: 'solid' performance expected in 2020
(CercleFinance.com) - Belgian metals producer Umicore said on Monday evening that it expected "solid" performance for 2020 despite a market context described as "difficult".
The group says it expects adjusted operating profit (EBIT) of 465-490 million euros, with its catalyst and surface treatment businesses underperforming relative to 2019.
Umicore added that the third quarter was marked by a stronger-than-expected recovery in the automotive market, which came as a pleasant surprise and enabled its catalyst division to outperform the rest of the industry.
The share is up 1.5% at noon.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The group says it expects adjusted operating profit (EBIT) of 465-490 million euros, with its catalyst and surface treatment businesses underperforming relative to 2019.
Umicore added that the third quarter was marked by a stronger-than-expected recovery in the automotive market, which came as a pleasant surprise and enabled its catalyst division to outperform the rest of the industry.
The share is up 1.5% at noon.
Copyright (c) 2020 CercleFinance.com. All rights reserved.