What specific financial metrics did Umicore raise for full-year 2026, and what is the new target?

Umicore raised its full-year 2026 group adjusted EBITDA guidance to 'slightly above €1 billion', based on its strong first-half performance. This upward revision follows a 33.5% year-on-year increase in adjusted EBITDA to €577 million in the first half of 2026, alongside a doubling of adjusted net profit to €273 million and a turnaround in operating free cash flow to €295 million (from negative in the prior year). The new target assumes metal prices remain at June 2026 levels and no major deterioration in the macroeconomic environment.

Which business segments drove Umicore’s strong first-half 2026 performance, and which remained under pressure?

Umicore’s strong first-half 2026 performance was driven by standout results in the Recycling segment—where profitability reached a new high—and the Catalysis Materials business, which delivered steady growth. The Specialty Materials segment also performed exceptionally well, benefiting from robust demand for cobalt and germanium. In contrast, the Battery Materials business continued to face pressure due to intense market competition; however, its Cathode Materials sub-segment showed year-on-year improvement, supported by contractual compensation arrangements.

Umicore Raises Full-Year Guidance Following Strong First-Half Performance

Aug 10, 2026

Umicore raised its full-year adjusted EBITDA guidance above 1 billion euros after reporting a 33.5% surge in first-half profits driven by strong recycling and special materials demand. Record margins were achieved in recycling despite ongoing pressure in battery materials.

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