Belgian battery-materials manufacturer Umicore expects a solid performance in 2020 despite unprecedented and challenging market conditions amid the global Covid-19 pandemic, the company said on Monday November 2.
Umicore anticipates its full-year adjusted earnings before interest and taxes (Ebit) to be in the range of ?,?465-490 million ($542-571 million) on the condition that the ongoing spread of the pandemic will not lead to major new disruptions in operations or market demand. The company posted a recurring Ebit at ?,?509 million in 2019.Umicore adjusted down its expectations for the rate of global car production decline to 20% for the full 2020, from 25% forecasted...