Umicore lifts profit forecast on stronger catalysis performance

(Reuters) -Belgian metal recycling group Umicore on Monday raised its financial guidance for full year profit, citing a stronger performance from its catalysis business group.

The company, which recycles metals and produces battery materials, now expects adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to come between 790 million euros ($929 million) and 840 million euros in 2025.

The upgrade is based "on performance to date, assuming current metal prices, and barring major new upheavals in a context of persistent geopolitical tensions," Umicore said in a statement.

Its previous annual forecast was in the range of 720 million to 780 million euros.

Umicore said EBITDA in the first half of the year was expected to be somewhat above 420 million euros.

Umicore will report its financial results for the first half of the year on August 1.

($1 = 0.8506 euros)

(Reporting by Gianluca Lo Nostro; Editing by Matt Scuffham)