June 15, 2020 / 6:51 AM / a month ago

BRIEF-Umicore Sees H1 Recurring EBIT In Line With Last Year's Levels

June 15 (Reuters) - Umicore SA:

* UPDATE ON COVID-19 IMPACT AND CURRENT TRADING

* VISIBILITY ON MARKET DEMAND IN SECOND HALF OF YEAR REMAINS EXTREMELY LOW AND DOES NOT ALLOW ANY RELIABLE QUANTIFIED OUTLOOK FOR FULL YEAR 2020 TO BE FORMULATED

* FOR H1, UMICORE EXPECTS ITS RECURRING EBIT TO BE BROADLY IN LINE WITH THE LEVELS OF THE H1 OF 2019

* CONTRIBUTION OF CATALYSIS AND ENERGY & SURFACE TECHNOLOGIES IN H1 IS EXPECTED TO BE WELL BELOW LEVELS OF FIRST HALF OF 2019

* HAS A STRONG BALANCE SHEET AND AMPLE LIQUIDITY WITH € 1.5 BILLION OF IMMEDIATE CASH AVAILABILITY, AN INCREASE OF € 0.3 BILLION FROM THE END OF APRIL

* SIGNIFICANT INCREASE IN IN H1 CONTRIBUTION FROM RECYCLING IS EXPECTED, AHEAD OF MARKET EXPECTATIONS

* HAS GRADUALLY RESUMED PRODUCTION IN PLANTS THAT WERE PREVIOUSLY SHUT DOWN Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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