Shares in Umicore drop on 'not that exciting' H1 results

Umicore SA

01/08/2025 08:35

** Shares in Umicore UMI.BR drop 6.2% after the Belgian metals recycling company posted "not that exciting" Q2 results, Degroof Petercam says

** "Not that exciting (anymore) as most is in line with the FY25 guidance upgrade issued on 30 June," says broker

** Co sees FY25 EBITDA in range of 790 million euros  ($902.81 million) to 840 million euros

** "Battery materials solutions remain in negative EBITDA territory, also in H2, and our doubts on these activities have not diminished," says Degroof Petercam

** Broker adds main focus point is Co reiterated FY guidance for the unit, so H2 should be better than H1 (but still EBITDA negative)

** The unit recorded a 21 million euros EBITDA loss in H1

** Up to the previous session's close, shares were up 40.1%​ YTD

($1 = 0.8750 euros)

 (Reporting by Dimitri Rhodes)

 ((Dimitri.rhodes@thomsonreuters.com))