“Umicore continues to perform well despite the downturn in the economy,” said CEO Marc Grynberg. “Although the economic environment is challenging we expect a largely stable performance in the second half and full year profits should remain in line with our guidance given in April. In addition, we continue to invest in our growth initiatives and have made new strides towards our long term strategic goals.”
Umicore invested growth projects as part of its Vision 2015 strategy with a number of significant initiatives announced during the period. Capital expenditures reached €94.6 million and research & development expenditure reached €87 million, increasing by 19%.
Umicore anticipates profitability in the second half of the year to be essentially in line with that of the first half.