Umicore: More revenue, less earnings

Revenues were 1% higher compared to 2013. Growth in Catalysis and Energy Materials offset lower revenues in Performance Materials and Recycling.

Umicore reported earnings for 2014 that were fully in line with its guidance. The recurring EBIT was € 274 million. This was 10% lower than in 2013 due to the impact of lower metal prices and currency headwinds. Umicore indicated that it expects profitability to improve in 2015 driven by further growth in Catalysis and Energy Materials in particular.

Marc Grynberg, CEO, said: “We continue to invest strongly in our major growth initiatives linked to themes such as recycling and clean mobility. We are starting to see a number of these investments bear fruit and this should become more visible for Umicore in 2015 and beyond.”

Umicore also announced that it is reviewing its portfolio of activities and assessing options to optimize growth and value creation potential. A process has been initiated to prepare its Zinc Chemicals and Building Products business units for a future outside the Umicore Group. These units have improved profitability significantly and are in a strong position to develop further in an environment that is specifically aligned with their respective products, services and applications.

Umicore also intends to house its Electro-Optic Materials and Thin Film Products activities in distinct legal entities to enable strategic alliances aimed at accelerating growth. The intention is to implement the portfolio realignment by the end of 2016, subject to market opportunities.


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