Why invest in Umicore
Umicore is a global materials technology and recycling Group. It focuses on application areas where its expertise in materials science, chemistry and metallurgy makes a real difference. Its activities are organized in three business groups: Catalysis, Energy & Surface Technologies and Recycling. Each business group is divided into market-focused business units offering materials and solutions that are at the cutting edge of new technological development and essential to everyday life.
Given the current evolution of the pandemic and the uncertainty it creates in Umicore’s key end-markets, it remains impossible to provide a reliable quantified outlook for 2020. Notwithstanding the very limited market visibility, Umicore continues to expect its full year adjusted EBIT to be below the levels reached in 2019, with the adjusted EBIT in Catalysis and Energy & Surface Technologies well below the levels of 2019 and the adjusted EBIT in Recycling well above the levels of 2019.
Based on market developments in the first half and recent trends, Umicore continues to expect global car production to be down by approximately 25% for the full year. In this scenario, revenues and adjusted EBIT in Catalysis in the second half would be well above those of the first half. However, the ongoing uncertainty caused by the pandemic and the weak consumer confidence make it impossible to predict market developments.
In Energy & Surface Technologies Umicore expects inventory corrections in the rechargeable battery supply chain in the second half to exacerbate the impact of weak trading conditions across business units. Adjusted EBIT in the second half is therefore likely to be below the level of the first half.
In Recycling, the first half performance should not be extrapolated to the second half, with the Hoboken smelter undergoing a 4-week planned maintenance shutdown and seasonality effects in other businesses.
Reasons to invest in Umicore
We are leaders in the markets we serve thanks to our metal know-how, innovative technology and a deep understanding of our customers’ needs. Additionally, our closed loop business model gives us a competitive edge.
We have developed unique positions in recycling and in materials that enable clean mobility.
We have a clear growth path based on providing solutions to the key megatrends of resource scarcity, the need for cleaner air and drive towards electrified transportation. And we’ve made significant investments to ensure that we capture these opportunities.
We are a leader in sustainability: through our products and services and through the way we run our operations.
We deliver value for our shareholders by consistently providing superior returns over the long term.
Who we are
|Share price*||€ 41.91|
|Outstanding share number*||246,400,000|
|Market Capitalization*||€ 10.3 billion|
|High/low 01/01/2020-30/06/2020||€ 27.2 - € 49.28|
|*closing at 30/06/2020|
H1 2020 key figures
|Million €||H1 2019||H1 2020||Difference|
|Revenues (excluding metal)||1,634||1,564||-4%|
|Adjusted net profit (Group share)||151||148||-2%|
|Return on capital employed (ROCE)||12.3%||10.9%|
|Adjusted EPS (in €)||0.63||0.62|
|Dividend payout (in €)*||0.375||0|
|Net debt, end of period||1,059||1,349||27%|
|Net debt / LTM Adj. EBITDA||1.49x||1.75x|
|Workforce, end of period (fully consolidated)||10,725||10,938||7%|
* On 30 April 2020 the ordinary shareholders’ meeting approved the proposal of Umicore’s Supervisory Board to reduce the dividend in respect of the full year 2019 to € 0.375 per share, which corresponded to the amount of the interim dividend of € 0.375 per share which was already paid out in the second half of 2019. As a result of this decision, there was no dividend payout in the first half of 2020.
Horizon 2020 - Economic objectives by 2020
Horizon 2020 - Social and environmental objectives