Umicore forecasts 2025 profits in line with last year

Umicore, a Belgium-based recycler and producer of nonferrous metals, including precious metals and catalysts, expects its full year 2025 earnings before interest, taxes, depreciation and amortization (EBITDA) to be in the range of $820 million to $885 million.

Should the company hit that target, it would be in line with the $867 million of adjusted EBITDA Umicore recorded in 2024.

Umicore says its first-quarter 2025 performance was “solid” and anticipates limited direct impact from current tariffs.

The firm says its Recycling Business Group recorded a strong first-quarter performance.

“The recent price increases in minor, specialty and precious metals raised the performance of the Precious Metals Refining business unit,” Umicore says, which operates a recycled-content nonferrous smelter in Hoboken, Belgium.

“The favorable trading environment also supported the contribution from Precious Metals Management, [and] Jewelry & Industrial Metals benefited from steady demand for gold and silver investment bars as these are considered safe-haven investments in an uncertain macroeconomic and geopolitical context."

The firm's Catalysis Business Group delivered what it says is a favorable performance in the first quarter, with its Automotive Catalysts business unit benefiting from its market position and customer exposure in gasoline catalyst applications.

Referring to a United States tariff policy on European goods that went into effect earlier this month, Umicore states, “Based on the information available to date and after taking mitigation measures, it is anticipated that these tariffs will not have a material direct impact on Umicore’s operations in 2025.

“Umicore expects to offset the vast majority of the direct impact thanks to the set-up of its customer contracts and by leveraging its flexible global footprint and supply chain, in consultation with its customers.”

Although stating that “the global economic landscape continues to be disrupted by persistent geopolitical tensions leading to limited visibility on end-market demand,” Umicore expects its adjusted EBITDA to reach at least $820 million for the full year.

“Umicore’s solid performance in the first quarter of 2025 highlights the robustness of our foundation businesses,” CEO Bart Sap says. “Our efficiency improvement program is progressing well, and the direct impact of the recently implemented U.S. tariff plan is expected to be limited based on what we know today."