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  • 16.93%
    Share capital 30/09/2018
  • 2,010 EUR M
    Value of the stake 30/09/2018
  • 16.93%
    Voting rights 30/09/2018
  • 2
    Number of representatives in statutory bodies 30/09/2018
Investment Year 2013 Investment history

Umicore is a global group specialised in materials technology and the recycling of precious metals. Its activity is focused on application fields where its expertise in materials science, chemistry and metallurgy is widely recognized. It is centered on three business groups: Catalysis, Energy & Surface Technologies and Recycling.

 

Performance in 2017

Umicore had an outstanding performance in 2017, driven, among others, by strong growth in Energy & Surface Technologies benefiting from high demand and the ramp-up of new production capacity for cathode materials.

Revenues and recurring EBIT for continued activities increased by 16% and 24% respectively.

Revenues, including discontinued activities, grew by 9% and recurring EBIT rose by 17%. Recurring net profit (group’s share) was up by 15%.

Net financial indebtedness increased to EUR 840 million, largely driven by Umicore’s capital expenditures and net working capital spending as well as the acquisitions in Automotive Catalysts and Cobalt & Specialty Materials.

2017 saw significant progress in reshaping the group:

  • completion of the portfolio realignment announced in 2015: divestments of Building Products, large area coatings activity of Thin Film Products and European operations of Technical Materials;
  • selective acquisitions to strengthen the positioning in Catalysis and Cobalt & Specialty Materials.

On 8 February 2018, Umicore completed a EUR 892 million capital increase, placing new ordinary shares through an accelerated bookbuild. The proceeds will be used to fund growth investments, particularly in cathode materials and will provide more financial flexibility to pursue potential acquisitions and partnerships that would further strengthen Umicore’s offering in clean mobility materials and recycling.

Investment case

Umicore has a business model geared towards clean technologies that are benefiting from favourable long-term trends, namely through activities in automotive catalysts, batteries for electric cars and precious metals recycling.

In these areas, Umicore enjoys a global leadership position, along with solid know-how, high-quality means of production and a talented management team.

Governance

Board of Directors (2/10*) Audit Committee (1/3*)
Member Member
Member
* Number of GBL's representatives in statutory bodies in relation to the total number of members. Governance information is dated 31/12/2017, except where superseded by more recent public disclosures.