April 30, 2020 / 5:55 AM / a month ago

BRIEF-Umicore Expects 2020 Recurring EBIT Well Below 2019 Level

April 30 (Reuters) - UMICORE SA:

* HAS RAPIDLY ADJUSTED ITS PRODUCTION CAPACITY WHERE NEEDED AND HAS FURLOUGHED 10% OF ITS WORKFORCE

* IS ALSO DELAYING CERTAIN INVESTMENTS AND EXPECTS CAPITAL EXPENDITURES FOR 2020 TO BE IN A RANGE OF EUR 400 TO EUR 450 MILLION

* BOARD OF DIRECTORS PROPOSED TO ANNUAL SHAREHOLDERS’ MEETING A REDUCED DIVIDEND OF EUR 0.375 PER SHARE

* END-MARCH BALANCE SHEET AND LIQUIDITY WITH EUR 1.2 BILLION OF IMMEDIATE CASH AVAILABILITY

* RESULTS FOR FIRST THREE MONTHS OF YEAR WERE WELL AHEAD OF LAST YEAR

* UMICORE SA SEES RECURRING EBIT OF CATALYSIS AND ENERGY & SURFACE TECHNOLOGIES IN 2020 WILL BE WELL BELOW LEVELS OF 2019

* UMICORE SA SEES RECYCLING RECURRING EBIT IN 2020 TO BE WELL ABOVE LEVELS OF 2019

* UMICORE EXPECTS RECURRING EBIT FOR GROUP TO BE WELL BELOW LEVEL OF 2019

* IT IS IMPOSSIBLE TODAY TO GIVE ANY RELIABLE QUANTIFIED OUTLOOK FOR 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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