After raising its annual targets Umicore posted by far the strongest rise on the BEL 20 index amid heavy trading on Tuesday in  Brussels.

The stock was up over 9% shortly after 10am, with trading volumes already exceeding those recorded in each of the last few weeks. It thus returned to its highest level in almost a year. At the same time, the BEL index was up just 0.1%.

Following an "excellent start to the year" in Q1, the Belgian group, which specialises in advanced materials and recycling, said that its performance remained very solid throughout the first half of the year.

It cited the stronger-than-expected performance of its catalyst production business, a favorable metal price environment, and strong contributions from efficiency gains.

Against this backdrop, Umicore expects its H1 adjusted EBITDA to slightly exceed €420m, above the consensus estimate of €382m.

Umicore is also targeting adjusted EBITDA for FY 2025 of between €790m and €840m, above a previous forecast range of €720m to €780m.

By way of comparison, analysts previously anticipated €750m.

Hit by disappointing performance and the prospect of new tariffs imposed by the United States, the stock had fallen in April to its lowest level since 2009, before recovering by over 83% since then.


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