Umicore

Share: Umicore

Close

URL : https://www.gbl.be/en/portfolio/umicore

Umicore

Umicore is a leader in materials technology and recycling of precious metals

Previous Next
  • 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*)
Colin Hall
Colin Hall
Click to see the detailed CV

Colin Hall

Head of Investments

Born on 18 November 1970, US nationality.
Colin Hall has an MBA from the Stanford University Graduate School of Business. He began his career in 1995 as a financial analyst at Morgan Stanley in private equity in New York. In 1997 he joined the Rhône Capital group, a private equity fund, where he held several positions over 10 years, in New York and then in London. In 2009, he co-founded a hedge fund, sponsored by Tiger Management (New York), where he worked until 2011. In 2012, he joined Sienna Capital, a wholly owned subsidiary of GBL grouping together its alternative investments (private equity, debt funds and funds with specific themes) as Managing Director. In 2016, he was appointed GBL Head of Investments.

 		Member Member
Gérard Lamarche
Gérard Lamarche
Click to see the detailed CV

Gérard Lamarche

Co-CEO, Member of the Standing Committee

Born on 15 July 1961, in Huy, Belgium, Belgian nationality.
Gérard Lamarche graduated in Economics from the University of Louvain-La-Neuve and the INSEAD Management Institute (Advanced Management Program for Suez Group Executives). He also trained at the Wharton International Forum in 1998-1999 (Global Leadership Series).
He began his career at Deloitte Haskins & Sells in Belgium in 1983 and in the Netherlands in 1987. In 1988 Gérard Lamarche joined Société Générale de Belgique as Investment Manager and was Controller from 1989 to 1991, before becoming an Advisor on strategic operations from 1992 to 1995.
He joined Compagnie Financière de Suez as Advisor to the Chairman and Secretary to the Executive Committee (1995-1997) before being appointed Deputy Director in charge of Planning, Control and Accounting.
In 2000 Gérard Lamarche pursued his career in the industrial sector by joining NALCO (a US subsidiary of the Suez group, world leader in industrial waste water treatment) as Managing Director. In January 2003 he was appointed CFO of the Suez group.
He has been a Director of Groupe Bruxelles Lambert since 2011 and Co-CEO since 1 January 2012.

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.