February 7, 2020 / 6:48 AM / 2 months ago

REFILE-Umicore 2019 operating profit beats expectations

(Fixes RIC link)

Feb 7 (Reuters) - Belgian materials and recycling group Umicore on Friday reported better-than-expected operating profit for 2019, boosted by the strong performance in Europe and China of its division making automotive catalytic converters.

The company, one of the world’s largest cobalt refiners, reported recurring earnings before interest and tax (REBIT) of 509 million euros ($558.83 million) in 2019, beating company-provided consensus of 485.5 million euros.

Umicore said it expects to grow its revenues and earnings in 2020. It added that this outlook “assumes that the recent coronavirus outbreak will not result in a protracted or material effect on the economy in 2020.”

$1 = 0.9108 euros Reporting by Milla Nissi in Gdansk

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