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.

Outlook 2020

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.

Umicore share

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
Ticker symbolUMI
*closing at 30/06/2020

H1 2020 key figures

Million €H1 2019H1 2020Difference
Revenues (excluding metal)1,6341,564-4%
Adjusted EBITDA3573765%
Adjusted EBIT2402431%
Adjusted net profit (Group share)151148-2%
Capital expenditure241152-37%
Return on capital employed (ROCE)12.3%10.9%
Adjusted EPS (in €)0.630.62
Dividend payout (in €)*0.3750
Net debt, end of period1,0591,34927%
Net debt / LTM Adj. EBITDA1.49x1.75x
Workforce, end of period (fully consolidated)10,72510,9387%

* 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.

For all investment related questions, please contact

Evelien Goovaerts

Head of Investor Relations
T: +32 2 227 78 38

Eva Behaeghe

Investor Relations Manager
T: +32 2 227 70 68

Aurélie Bultynck

Investor Relations Manager
T: +32 2 227 74 34

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