Umicore, BE0974320526

Umicore stock: EUR 450 million Hoboken plan, up to 350 jobs at risk

Published on 11/12/2026 at 18:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Umicore stock is set for a major recycling expansion in Belgium. The group also plans a leaner operating model and reaffirmed its 2026 earnings outlook.

Investment And Restructuring Shape Outlook

Umicore plans to expand its precious-metals refining flowsheet in Hoboken, subject to regulatory approvals.
The operating-model changes target annualized savings by the end of 2028 and could affect employees worldwide.
Management reiterated its adjusted EBITDA guidance for fiscal 2026 after third-quarter trading met expectations.

Umicore, BE0974320526, Illustration mit AI erstellt.

Umicore announced a major recycling investment on Thursday, November 12, while pairing the project with a proposed restructuring. In a press release, the company said it will expand its Precious Metals Refining flowsheet at Hoboken, Belgium.

Umicore stock traded at 18.19 euros on Lang & Schwarz at 18:05 CET on Thursday, November 12, 0.39 percent above the Xetra close of Thursday, November 12, at 18.12 euros. The move since the previous report reflects a separate comparison with the 18.83-euro Lang & Schwarz quote recorded at 11:48 CET on Wednesday, November 11.

Hoboken Expansion Targets Recycling Growth

The project is designed to improve feed flexibility, shorten processing times for platinum-group and other precious metals, and increase capacity for metals including antimony and tin. It would also add cobalt refining and recycling as the 18th metal in the flowsheet.

Spending is planned from 2027 through 2030, when commissioning is expected, and remains subject to regulatory approvals. Umicore expects a payback period of about six years, with a potentially shorter period if current metal prices persist. The European Commission has selected the expansion as a strategic project under the Critical Raw Materials Act.

Operating Changes Add Execution Focus

Alongside the industrial investment, Umicore intends to simplify its operating model through more standardized support functions, automation, digital tools, artificial intelligence and selective outsourcing. The proposed changes could affect up to 350 employees over the next two years, while annualized savings of 60 million euros are targeted by the fourth quarter of 2028.

Management said third-quarter trading was in line with expectations and reiterated adjusted EBITDA guidance for fiscal 2026 at slightly above 1 billion euros. The company also cautioned that exceptional first-half performance in Recycling and Specialty Materials is not expected to recur in the second half, while Automotive Catalysts follows its normal seasonal pattern.