Umicore first-half earnings beat estimates on recycling, specialty materials strength
Umicore first-half earnings beat estimates on recycling, specialty materials strength July 31 (Reuters) - Belgian metal recycling group Umicore UMI.BR reported first-half profits above market expectations on Friday, helped by strong activity in its recycling and specialty materials businesses, efficiency measures and a favourable metal-price environment.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 33.5% from a year earlier to 577 million euros ($663.84 million), compared with analysts' forecast of 530.5 million euros in a Vara consensus poll.
($1 = 0.8692 euros)
(Reporting by Nathan Vifflin in Gdansk)
((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))
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