Umicore reports that its revenues increased by 1% in the first quarter of 2016 with strong growth in Automotive Catalysts and Rechargeable Battery Materials offsetting the impact of lower metal prices on the various recycling activities.

In Catalysis, revenues were up by 12% driven by positive volume and product mix effects in Automotive Catalysts, while revenues for Energy & Surface Technologies were down 4% due to the impact of lower cobalt and nickel prices on the revenues of Cobalt & Specialty Materials. This impact was largely offset by revenue growth in Rechargeable Battery Materials. Revenues in Recycling were 8% lower reflecting lower metal prices and subdued demand in several product businesses.

Based on the first quarter performance and assuming current market conditions continue to prevail, Umicore says that it expects full year recurring EBIT to be in the range of €335 million– € 360 million.

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