Profit warning due to postponed growth momentum Umicore seems to be between a rock and a hard place as the overall automotive industry (combustion and electrical mobility) deteriorated since demand for both types of power train has come down, especially in China and Europe. Management’s clarification of the FY guidance is a confession of lower profitability on a recurring level as midpoint guidance is below 2018 recurring EBIT.
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Profit warning due to postponed growth momentum Umicore seems to be between a rock and a hard place as the overall automotive industry (combustion and electrical mobility) deteriorated since demand for both types of power train has come down, especially in China and Europe. Management’s clarification of the FY guidance is a confession of lower profitability on a recurring level as midpoint guidance is below 2018 recurring EBIT.