- (PLX AI) - Umicore now expects adjusted EBIT to approach EUR 1 billion, down from the previous outlook of "slightly exceeding EUR 1 billion" for the full year 2021.
- • Says new outlook reflects the recent decline in PGM prices, as well as a stronger than anticipated impact of the global semiconductor shortage on car production
- • In Automotive Catalysts, the impact of the semiconductor shortage on car production is proving more severe than was anticipated at the end of July
- • In Rechargeable Battery Materials, demand patterns for NMC cathode materials reflect adjustments in EV production and qualification schedules as a result of the semiconductor shortage
- • This shortage is expected to continue impacting EV qualifications and production well into next year, resulting in a postponement of the start of commercial production in Umicore's greenfield cathode materials plant in Nysa, Poland to the second quarter of 2022