Umicore achieves growth in recycling division sales and earnings

Umicore's Hoboken plant, Source: Umicore
10.02.2020 − 

The Belgian materials technology group Umicore earned significantly more in its recycling operations last year. The division's sales rose by 9 per cent to €681m. Recurring earnings before interest and taxes (EBIT) from recycling activities jumped by nearly 40 per cent to hit €188m. In its annual earnings statement issue last week, the Belgian company attributed the growth primarily to higher metal prices and an improved material composition in its input materials.

By optimizing its feed mix, Umicore had also been able to offset most of the impact resulting from the "extended shutdown and the fire" at its smelter in Hoboken, which together had driven down volumes. In precious metals refining, Umicore also benefited from the higher prices for certain precious and platinum group metals, particularly in the second half of the calendar year.

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