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.
2021 Outlook
Umicore is off to a very strong start this year driven by soaring precious metal prices, in particular rhodium and to a lesser extent palladium, strong demand across businesses and robust operations.
In early February Umicore indicated that it expected to achieve substantial growth in earnings in 2021, with all business groups contributing to the growth. Based on the performance to date and current demand visibility, and assuming precious metal prices remain around the levels seen in the first quarter of the year, Umicore expects adjusted EBIT for 2021 to approach € 1 billion, well above current market consensus. Taking into account seasonality effects in various businesses and the planned Hoboken maintenance shutdown in the fall, adjusted EBIT is currently expected to be higher in the first half of the year than in the second half. The guidance also assumes no degradation in demand patterns in the automotive industry or, more generally, in the macro-economic environment, due for instance to the evolution of the pandemic.
Compared to 2020, this full year outlook incorporates on a like-for-like basis an exceptional additional contribution of roughly € 250 million linked to higher precious metal prices.
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
Our Group structure
Umicore share
| Share price* | € 39.29 |
| Outstanding share number* | 246,400,000 |
| Market Capitalization* | € 9.7 billion |
| High/low 01/01/2020-31/12/2020 | € 29.8 - € 47.5 |
| Ticker symbol | UMI |
| *closing at 31/12/2020 |
Full Year 2020 key figures
| Million € | 2019 | 2020 | Difference |
|---|---|---|---|
| Revenues (excluding metal) | 3,361 | 3,239 | -4% |
| Adjusted EBITDA | 753 | 804 | 7% |
| Adjusted EBIT | 509 | 536 | 5% |
| Adjusted net profit (Group share) | 312 | 322 | 3% |
| Capital expenditure | 553 | 403 | -27% |
| Return on capital employed (ROCE) | 12.6% | 12.1% | |
| Adjusted EPS (in €) | 1.30 | 1.34 | |
| Dividend payout (in €)* | 0.75 | 0.25 | |
| Net debt, end of period | 1,443 | 1,414 | -2% |
| Net debt / LTM Adj. EBITDA | 1.92x | 1.76x | |
| Workforce, end of period (fully consolidated) | 11,152 | 10,859 | -3% |
* On 30 April 2020 the ordinary shareholders’ meeting approved to reduce the dividend for 2019 to € 0.375 per share, which corresponded to the amount of the interim dividend for 2019 which had been already paid out in the second half of 2019. Therefore, there was no dividend payout in the first half of 2020. In the second half of 2020, Umicore paid out an interim dividend for 2020 of € 0.25 € per share.
