“The most significant improvement was achieved in our Catalysis business where increases in global automotive production resulted in higher levels of demand for automotive catalysts,” said chairman Thomas Leysen. “In our Performance Materials business we also saw a healthy recovery in most of the end markets served by our customers including the electronics, chemicals and automotive industries. Although the rebound in Energy Materials was somewhat less pronounced, the business group did record a very positive turn-around in the performance of the cobalt and nickel-related business activities.”

In all the company gained revenues of € 2 billion (up 16% from 2009), and a recurring net profit (Group share) of € 263 million (up 222%).

In future, the company says that it anticipates further revenue and earnings growth in 2011. The investment activity for Umicore’s main growth projects will intensify in 2011 leading to higher levels of capital expenditures than in 2010.
“We have determined four key areas where Umicore’s technology and expertise can make a real difference in rising to the challenges posed by key megatrends such as resource scarcity, the electrification of the automobile, the requirements for reduced emissions and the need for renewable energy generation,” said Leysen. “Overall we anticipate that Umicore will be able to achieve revenue growth in excess of 1 % between 2011 and 2015.”