Umicore has reported adjusted earnings before interest and taxes (EBIT) of around €530 million for the full year, up from its previous expectation of €465 million–€490 million.

According to the company, this reflects a stronger than anticipated performance in November and December in its Catalysis and Recycling segments.

‘In Catalysis, the recovery of the automotive industry continued in November and was sharper than expected,’ the company said. ‘Activity levels are also very high in December, contrary to usual seasonality effects. This recovery is most pronounced in China and Europe and includes a reduction of the backlog which was caused by production disruptions in the first half of the year.’

In Recycling, operational performance in the Precious Metals Refining and Jewelry and Industrial Metals business units was also stronger than anticipated with results supported by increasing precious metal prices.

This story uses material from Umicore, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.