Energy materials revenues were up by 26% with all business units recording growth, particularly rechargeable battery materials, Umicore said.
Energy materials revenues were up by 26% with all business units recording growth, particularly rechargeable battery materials, Umicore said.

By Liz Nickels

Positive developments in most of the product related businesses were offset by the effects of lower metal prices in recycling and, to a lesser extent, currency headwinds, it said.

In Umicore's catalysis segment, revenues grew by 4% driven by global automotive production. Energy materials revenues were up by 26% with all business units recording growth, particularly rechargeable battery materials. Performance materials revenues were down by 1% with improvements in the two zinc-related business units offsetting somewhat less favourable conditions in the other activities. Recycling revenues were down by 16% with lower received precious metals prices impacting most business units coupled with lower volumes in the precious metals refining operations.