Umicore lowers profit forecast as chip shortage bites

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  • Cuts 2021 core profit outlook
  • Lowers expected sales volumes for cathode materials
  • Postpones start of new Polish cathode material plant
  • Shares down about 4%

Oct 18 (Reuters) – Belgian materials technology and recycling group Umicore (UMI.BR) made a downward revision revised to its profit outlook on Monday to reflect a stronger than previously expected impact from the global semiconductor shortage and lower prices for platinum group metals (PGMs).

https://www.reuters.com/technology/umicore-lowers-2021-profit-forecast-chip-shortage-woes-2021-10-18/

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