Solid Q1 performance
Umicore performed strongly in the first quarter of the year, demonstrating the quality of its foundation businesses as well as the impact of ongoing efficiency improvements across the Group, which are well on track.
The Catalysis Business Group delivered a favorable performance in the first quarter with Automotive Catalysts benefiting from its market position and customer exposure in gasoline catalyst applications. The start to the year was also positive for the Fuel Cell & Stationary Catalysts and Precious Metals Chemistry business units, which further contributed to the performance.
The Recycling Business Group recorded a strong first-quarter performance. The recent price increases in minor, specialty, and precious metals raised the performance of the Precious Metals Refining business unit. The favorable trading environment also supported the contribution from Precious Metals Management. Jewelry & Industrial Metals benefited from steady demand for gold and silver investment bars as these are considered safe haven investments in an uncertain macroeconomic and geopolitical context.
The Specialty Materials Business Group performed overall in line with expectations.
The activities in the Battery Materials Solutions Business Group performed overall in line with expectations. As a reminder, this new Business Group includes the Battery Cathode Materials1 and the Battery Recycling Solutions business units.
Limited expected direct impact in 2025 from current US tariffs
The new US tariff plan took effect in April. Based on the information available to date and after taking mitigation measures, it is anticipated that these tariffs will not have a material direct impact on Umicore’s operations in 2025. Umicore expects to offset the vast majority of the direct impact thanks to the set-up of its customer contracts and by leveraging its flexible global footprint and supply chain, in consultation with its customers.
Umicore confirms outlook for 2025
The global economic landscape continues to be disrupted by persistent geopolitical tensions leading to limited visibility on end-market demand. Nevertheless, (i) based on performance to date, (ii) the limited anticipated direct impact from the current US tariff plan in 2025, (iii) assuming current metal prices, (iv) and barring major new upheavals, Umicore confirms that it expects the Group’s adjusted EBITDA for the full year 2025 to be in the range of € 720 million to € 780 million2.
Umicore’s solid performance in the first quarter of 2025 highlights the robustness of our foundation businesses. Our efficiency improvement program is progressing well, and the direct impact of the recently implemented US tariff plan, is expected to be limited based on what we know today. Our emphasis on capital discipline and performance, combined with the agility of our workforce, has resulted in a positive start to the year. By controlling the controllable in an increasingly uncertain macroeconomic context, we are confident in reaffirming our adjusted EBITDA guidance for 2025.
Bart Sap, CEO of Umicore
---------------------
1 Previously the Battery Cathode Materials business unit was the Battery Materials Business Group.
2 For more information, consult the full-year results press release published on February 14th 2025.
Disclaimer
This press release contains forward-looking information that involves risks and uncertainties, including statements about Umicore’s plans, objectives, expectations and intentions. Should one or more of these risks, uncertainties or contingencies materialize, or should any underlying assumptions prove incorrect, actual results could vary materially from those anticipated, expected, estimated or projected. Readers are cautioned that forward-looking statements inherently include known and unknown risks and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Umicore. As a result, neither Umicore nor any other person assumes any responsibility for the accuracy of these forward-looking statements. Umicore does not commit to review any of its forward-looking statements on new information or developments unless applicable by law.
