February 8, 2019 / 6:51 AM / 8 days ago

Belgium's Umicore expects subdued auto demand, startup costs to weigh on 2019 earnings

Feb 8 (Reuters) - Belgium’s Umicore said on Friday it expected growth in 2019 recurring earnings before interest and tax (REBIT) to be hit by subdued demand in the automotive and consumer electronics sectors, higher depreciation charges, and research and development and startup costs.

The materials technology and recycling group reported REBIT of 514 million euros ($582.77 million) for 2018, slightly higher than an average expectation of 512.5 million euros in a poll of analysts conducted for the company. ($1 = 0.8820 euros) (Reporting by Alan Charlish in Gdynia; Editing by Subhranshu Sahu)

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