Umicore delivers first-half performance in line with Q1 outlook, in a challenging market context, and makes good progress in the execution of the “Umicore 2030 – RISE” strategy
Umicore’s first half results were the second highest in its history, despite severe market disruptions, rising cost inflation and a volatile precious metal price environment.
Umicore’s revenues for the first 6 months amounted to € 2.1 billion, stable compared to the record levels of the first 6 months in the previous year. Adjusted EBIT of the Group amounted to € 461 million, and adjusted EBITDA to € 601 million, well up in contrast to the second half of last year, however below the record levels of the first half of 2021, reflecting the less favorable precious metal price environment and including higher spending linked to innovation and future growth as well as general cost inflation.
Strong operational cash flows including a less than anticipated increase in net working capital resulted in a stable net financial debt of € 955 million in contrast with end of 2021, corresponding to 0.88 times LTM adjusted EBITDA. In line with the dividend policy, an interim dividend of € 0.25 per share will be paid on August 23.
Umicore is actively implementing its RISE 2030 strategy with key milestones achieved in the first half of 2022, such as the signing of long-term customer contracts and preparation of its North-America value-chain presence in Rechargeable Battery Materials.
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