Umicore Reports First-Half Profit, Revenues Nearly Stable, Confirms FY25 Outlook

Umicore reported a profit in H1, compared to a loss in the prior year, with revenues nearly flat. Adjusted EBITDA reached €433 million, up from €393 million, driven by sustained demand and operational efficiency initiatives. The company confirmed its FY25 outlook of €790-840 million in adjusted EBITDA and accelerated ongoing efficiency improvements to support cost optimization and top-line growth.

Umicore NV, a leading provider of specialty chemicals and materials for various industries, reported its first-half results for 2025, showing a significant improvement over the prior year. The company reported a profit of €302 million in adjusted EBIT, compared to a loss of €10 million in the same period last year. Revenue stood at €1.8 billion, nearly flat compared to the first half of 2024.

The strong performance was driven by sustained demand and operational efficiency initiatives across business units. Adjusted EBITDA reached €433 million, up from €393 million in the first half of 2024, demonstrating a year-on-year increase of 10%. This growth was achieved despite cost inflation and fluctuations in foreign exchange rates.

The Battery Materials Solutions Business Group, which includes the Battery Cathode Materials and Battery Recycling Solutions units, reported revenues of €212 million, a slight decrease from the first half of 2024. Adjusted EBITDA for the Business Group was €-21 million, roughly stable compared to the previous year. The Catalysis Business Group, which includes Automotive Catalysts, Precious Metals Chemistry, and Fuel Cell & Stationary Catalysts, achieved an adjusted EBITDA of €232 million, the second highest level in its history. The Recycling Business Group recorded revenues and earnings in line with the first half of 2024, with adjusted EBITDA of €190 million. Specialty Materials also reported a modest increase in adjusted EBITDA.

Umicore's CEO, Bart Sap, highlighted the company's focus on operational excellence and rigorous capital deployment, stating, "Umicore delivered an encouraging performance in the first half of this year, in a dynamic global context. This highlights the quality of our businesses as well as our continued focus on operational efficiencies and rigorous capital deployment across the Group."

The company confirmed its 2025 outlook, expecting adjusted EBITDA to be in the range of €790 million to €840 million. The Battery Cathode Materials business unit is expected to achieve break-even adjusted EBITDA for 2025, while the full Battery Materials Solutions Business Group is forecasted to have adjusted EBITDA between €-20 and €-25 million. The Catalysis Business Group is expected to continue its strong performance, with adjusted EBITDA slightly above the record level achieved in 2024.

Umicore's solid balance sheet and liquidity position, along with a strict approach to capital allocation, position the company well for future growth and operational efficiency. The company's strategy to maximize cash generation from foundation businesses and recover value in Battery Cathode Materials is expected to drive further improvements in its financial performance.

[1] https://finance.yahoo.com/news/umicore-half-results-2025-053000404.html