Half Year Results 2015

Regional website Germany

Highlights

Revenues were well up (+12%) compared to the same period last year reflecting strong growth in Catalysis and Energy & Surface Technologies. Higher demand coupled with an increased contribution from recent investments and – to a lesser extent – a favourable currency impact, led to a solid increase in recurring EBIT, which was up 24%. Umicore’s growth investments remained on track and capital expenditures amounted to € 100 million.

  • Revenues of € 1.3 billion (+12%)
  • Recurring EBITDA of € 260 million (+18%)
  • Recurring EBIT of € 171 million (+24%)
  • ROCE of 14.4% (versus 12.5% in the first half of 2014)
  • Recurring net profit (Group share) of € 131 million (+38%)
  • Recurring EPS of € 1.2 (+38%)
  • Net debt at € 314 million responding to a gearing ratio of 14.6%

Major investments were successfully carried out in the Hoboken plant during an extended shutdown in the second quarter, as part of the program to increase capacity by 40%. The next investment wave will be completed by the end of the summer.

An interim dividend of € 0.50 per share will be paid out in September. In line with the dividend policy, the amount corresponds to half the annual dividend declared for the financial year 2014.

Outlook

Under current conditions, Umicore expects its full year recurring EBIT to be within the upper half of the previously stated range of € 310 – 340 million.

Note: The reporting segments in this press release are aligned with Umicore’s new reporting structure consisting of three business groups: Catalysis, Energy & Surface Technologies and Recycling. The business units Building Products and Zinc Chemicals are reported separately as discontinued until their effective divestment. Umicore’s minority share in Element Six Abrasives is included in the Corporate section. 2014 segment figures were restated accordingly. All comparisons are made with the first half year of 2014, unless mentioned otherwise. All Group KPI’s include the discontinued operations.

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