At first sight, Umicore’s H1 results look odd, but from a multi-year semester perspective they are far from it. H1 22 was the second most profitable half year in the company’s history after the even-stronger H1 21. For the second half, the management was upbeat although we do not fully share this optimism given the ongoing constraints.
H1 sales came in €6m above consensus, but the adjusted EBITDA fell short by -2.4%.
30 Jul 2022
Competing with some very strong comparables
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Competing with some very strong comparables
- Published:
30 Jul 2022 -
Author:
Martin Schnee -
Pages:
4
At first sight, Umicore’s H1 results look odd, but from a multi-year semester perspective they are far from it. H1 22 was the second most profitable half year in the company’s history after the even-stronger H1 21. For the second half, the management was upbeat although we do not fully share this optimism given the ongoing constraints.
H1 sales came in €6m above consensus, but the adjusted EBITDA fell short by -2.4%.