Umicore rises after 'ambitious' mid-term targets, capex cut

Umicore SA

27/03/2025 08:34

** Shares in Umicore UMI.BR rise around 5% after the Belgian metals recycling group announced mid-term targets and reduction of its capital expenditures

** Umicore expects to cut capex by 1.4 billion euros ($1.51 billion) between 2025 and 2028

** It sees both adjusted EBITDA and cumulative free cash flow at 1.0-1.2 billion euros in 2028, EBITDA margin above 23%

** KBC deems targets as "ambitious" since EBITDA targets beat their estimates

** Catalysis and Recycling are "still generating top notch cash flow," the broker adds

** Up to the previous session's close, shares were down 7.4%​ YTD

($1 = 0.9287 euros)

 (Reporting by Olivier Cherfan)

 ((olivier.cherfan@thomsonreuters.com))