Umicore says that it achieved record financial results in 2017 due to strong growth in its Energy & Surface Technologies segment.

It accrued revenues of €2.9 billion, an increase of 9%, and recurring net profit (group share) of €267 million, an increase of 15%.

The company said that its portfolio was simplified with its divestments of Building Products, the European activities of Technical Materials and the large area coatings activity of Thin Film Products.

‘Umicore anticipates that it will approach already in 2018 its Horizon 2020 target of doubling recurring EBIT (from the 2014 base – excluding discontinued operations) to a level of €500 million, driven by buoyant demand for cathode materials and the fast ramp-up of new production lines in South Korea and China,’ the company said in a press release. ‘The Catalysis and Recycling activities will also continue to contribute to profit growth. This outlook assumes that current macroeconomic conditions continue to prevail.’

This story is reprinted from material from Umicorewith editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.