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14 Jun

Umicore revises growth plans amid ‘disappointing’ EV outlook

Belgian sustainable materials developer Umicore is reassessing its growth and investment plans post-2024 due to the “disappointing” short-term battery materials outlook. The company has downgraded earnings for its Battery Materials business for this year after a slowdown in sales. It foresees an adjusted EBITDA around break-even, compared to the €135 million ($144.4m) previously expected. Sales volumes are set to be similar or lower than in 2023.…
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