Umicore Sa · EURONEXT:UMI
Umicore Sa — Shareholder Meeting (April 2020)
49 slides from Umicore Sa's shareholder meeting presentation, Apr 30, 2020
Slide 1: Ordinary, special and extraordinary shareholders' meetings
Ordinary, special and extraordinary shareholders' meetings 30 April 2020
Slide 2: Agenda
Agenda Governance Highlights 2019 COVID-19 2020 outlook Remuneration Voting Umicore shareholders' meetings 30 April 2020 2
Slide 3: Governance
Governance Umicore shareholders' meetings 30 April 2020 3
Slide 4: Board of directors
Board of directors Key • Financial performance and budget for the Group • Funding mandate (US private placement) board meeting topics • Innovation strategy in 2019 • M&A projects • Investment projects and strategic opportunities • Business reviews and market updates • Business risk assessment • IT s
Slide 5: Application of new corporate governance rules
Application of new corporate governance rules Two-tier model • Supervisory board, composed exclusively of non-executive directors and New Belgian Code headed by a chairman of companies • Management board headed by the CEO and associations • The two-tier model is the most appropriate for Umicore goin
Slide 6: Proposed board member
Proposed board member Mario Armero Umicore shareholders' meetings 30 April 2020 6
Slide 7: Highlights 2019
Highlights 2019 Umicore shareholders' meetings 30 April 2020 7
Slide 8: Significant strides made in the execution of Horizon 2020 strategy
Significant strides made in the execution of Horizon 2020 strategy Clear leadership Doubled the size Turned sustainability Rebalanced in clean mobility of the business in into a greater portfolio & earnings materials and recycling terms of earnings competitive edge contributions REVENUES ROCE Capex
Slide 9: Umicore shareholders' meetings 30 April 2020
Umicore shareholders' meetings 30 April 2020 9
Slide 10: Umicore shareholders' meetings 30 April 2020
Umicore shareholders' meetings 30 April 2020 10
Slide 11: Umicore shareholders' meetings 30 April 2020
Umicore shareholders' meetings 30 April 2020 11
Slide 12: Strong performance in persistently challenging market context
Strong performance in persistently challenging market context Strong performance in persistently challenging environment ENERGY & SURFACE CATALYSIS RECYCLING TECHNOLOGIES Market share gains in gasoline Growth in cathode materials for Favorable supply environment catalyst applications EVs in line wit
Slide 13: Strong performance in persistently challenging market context
Strong performance in persistently challenging market context 34% 33% REVENUES REBIT REBITDA CATALYSIS €1.5bn +7% €185m +10% €264m +11% Group REBIT REVENUES REBIT REBITDA ENERGY & SURFACE €1.2bn -5% €183m -29% €271m -16% 33% TECHNOLOGIES REVENUES REBIT REBITDA Catalysis RECYCLING €681m +9% €188m +40
Slide 14: Striving for healthy & safe employees
Striving for healthy & safe employees Delivering eco-efficient & ethical operations VALUE CHAIN & SOCIETY ECO-EFFICIENCY GREAT PLACE TO WORK Global Framework Agreement on Input from secondary Sustainable Development renewed & end-of-life materials 60% Growth in Belgium, China, Korea and Finland in 2
Slide 15: COVID-19
COVID-19 Umicore shareholders' meetings 30 April 2020 15
Slide 16: Umicore's response to COVID-19
Umicore’s response to COVID-19 Keeping our people healthy and ensuring safe working conditions Strict hygiene and precautionary measures Dedicated global task force Limited number of infected employees Preserving cash Reduce costs: production capacity adjusted and 10% of workforce furloughed Optimiz
Slide 17: Strong Q1 performance
Strong Q1 performance Well ahead of the previous year Recycling: strong Q1 contribution from all business units Supportive supply conditions and metal prices in Precious Metals Refining Favorable trading conditions for precious and certain PGM metals in Precious Metals Management Strong dema
Slide 18: Impact of COVID-19 on automotive industry
Impact of COVID-19 on automotive industry Global Car production -25% YoY in Q1 Purchasing power end- consumers impacted by China COVID-19 and demand anticipated to Car production slowly picking up, yet still significantly below 2019 remain fragile in 2020 levels in March (-45%) More pronounced decli
Slide 19: Update on COVID-19 impact on operations
Update on COVID-19 impact on operations ENERGY & SURFACE RECYCLING CATALYSIS TECHNOLOGIES Production at Automotive Production at Rechargeable All sites remain in operation Catalysts: Battery Materials: and comply with strict sanitary • Impacted in China during Lunar standards • Impacted in China dur
Slide 20: 2020 outlook
2020 outlook Umicore shareholders' meetings 30 April 2020 20
Slide 21: 2020 outlook
2020 outlook REBIT in Catalysis and Energy & Based on strong Q1 and expectation of Surface Technologies expected well continued favorable supply conditions, below levels of 2019 Recycling REBIT expected well above levels of 2019 Assuming that global car production will be down by approximately 25% f
Slide 22: Remuneration
Remuneration Umicore shareholders' meetings 30 April 2020 22
Slide 23: Executive committee
Executive committee • Fixed remuneration reflecting the level of responsibility • Variable remuneration with 50% undeferred, based on individual performance Remuneration • Variable remuneration with 50% deferred over 3 years, Policy based on multi-year Company performance • Share-based compensation:
Slide 24: Executive remuneration 2019
Executive remuneration 2019 CEO Executive committee (in Euros) 2018 2019 2018 2019 Fixed 700,000 700,000 2,306,250 2,525,417 Undeferred variable 50% 220,000 87,500 662,500 570,000 Deferred variable 50% 144,450 256,500 481,500 855,000 Pension 168,397 213,079 661,608 663,437 Other 51,631 51,921 123,29
Slide 25: Board
Board • Fixed fee reflecting the level of responsibility Remuneration • Attendance fee Policy • Share-based compensation Remark: If the dual board structure is adopted by the EGM, Board should be read as Supervisory Board and ExCom as Management Board in the Remuneration Policy as published in the A
Slide 26: Questions provided ahead of the shareholders' meetings
Questions provided ahead of the shareholders’ meetings Umicore shareholders' meetings 30 April 2020 26
Slide 27: Questions provided ahead of the shareholders' meetings
Questions provided ahead of the shareholders' meetings • Could you provide more context on the decision to reduce the dividend for 2019? • Some companies give their shareholders the option to chose between a dividend pay-out in cash or shares. Would you consider this next year? • Could you please pr
Slide 28: Questions provided ahead of the shareholders' meetings
Questions provided ahead of the shareholders' meetings • Solidarity with the pandemic’s victims a. Allocation of the budget of the shareholders' meetings The company Elia will donate the budget which would normally have been used for the organization of the shareholders’ meetings to 3 solidarity fun
Slide 29: Voting
Voting Umicore shareholders' meetings 30 April 2020 29
Slide 30: Agenda
Agenda Ordinary shareholders’ meeting 1. Annual report of the board of directors and report of the statutory auditor on the statutory annual accounts 2019 2. Approval of the remuneration report 3. Approval of the remuneration policy 4. Approval of the statutory annual accounts 2019 including the pro
Slide 31: Agenda
Agenda 5. Communication of the consolidated annual accounts as well as the board report and the auditor's report on those consolidated annual accounts 6. Discharge to the directors 7. Discharge to the statutory auditor 8. Board composition and remuneration • Re-electing Mrs Ines Kolmsee as independe
Slide 32: Agenda
Agenda 9. Re-election of the statutory auditor and remuneration • Re-electing PwC Bedrijfsrevisoren/Réviseurs d'Entreprises, represented by Mr Kurt Cappoen, for a period of 3 years • Approving the remuneration of the statutory auditor for the financial years 2020 through 2022 Umicore shareholders' m
Slide 33: Agenda
Agenda Special shareholders’ meeting 1. Approval of change of control clause Umicore shareholders' meetings 30 April 2020 33
Slide 34: Agenda
Agenda Extraordinary shareholders’ meeting 1. Amendment of the articles of association in order to bring them in line with the new Code of Companies and Associations (including the adoption of a two-tier board structure) and to modernize them 2. Composition of the supervisory board 3. Powers Umicore
Slide 35: Ordinary general meeting: first resolution
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering First resolution Approval of the remuneration report Première résolution Approbation du rapport de rémunération Eerste besluit Goedkeuring van het remuneratieverslag Umicore shareholders' meetings 30 April 2020 35
Slide 36: Ordinary general meeting: second resolution
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Second resolution Approval of the remuneration policy Deuxième résolution Approbation de la politique de rémunération Tweede besluit Goedkeuring van het remuneratiebeleid Umicore shareholders' meetings 30 April 2020 36
Slide 37: Ordinary general meeting: third resolution
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Third resolution Approval of the statutory annual accounts of the company for the financial year ended on 31 December 2019 including the proposed allocation of the result Troisième résolution Approbation des comptes st
Slide 38: Ordinary general meeting: fourth resolution
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Fourth resolution Discharge to the directors Quatrième résolution Décharge aux administrateurs Vierde besluit Kwijting aan de bestuurders Umicore shareholders' meetings 30 April 2020 38
Slide 39: Ordinary general meeting: fifth resolution
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Fifth resolution Discharge to the statutory auditor Cinquième résolution Décharge au commissaire Vijfde besluit Kwijting aan de commissaris Umicore shareholders' meetings 30 April 2020 39
Slide 40: Ordinary general meeting: sixth resolution
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Sixth resolution Re-electing Mrs Ines Kolmsee as independent director for a period of three years Sixième résolution Réélection en qualité d’administrateur indépendant de Madame Ines Kolmsee pour un terme de trois ans
Slide 41: Ordinary general meeting: seventh resolution
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Seventh resolution Re-electing Mrs Liat Ben-Zur as independent director for a period of three years Septième résolution Réélection en qualité d’administrateur indépendant de Madame Liat Ben-Zur pour un terme de trois a
Slide 42: Ordinary general meeting: eighth resolution
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Eighth resolution Appointing Mr Mario Armero as director for a period of three years Huitième résolution Election en qualité d’administrateur de Monsieur Mario Armero pour un terme de trois ans Achtste besluit Benoemin
Slide 43: Ordinary general meeting: ninth resolution
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Ninth resolution Approving the board members’ remuneration Neuvième résolution Approbation de la rémunération des membres du conseil d’administration Negende besluit Goedkeuring van de vergoeding van de leden van de ra
Slide 44: Ordinary general meeting: tenth resolution
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Tenth resolution Re-electing PricewaterhouseCoopers Bedrijfsrevisoren/Réviseurs d’Entreprises, represented by Mr Kurt Cappoen, as statutory auditor for a period of three years - approving the statutory auditor's remune
Slide 45: Special general meeting: sole resolution
Special general meeting Assemblée générale spéciale Bijzondere algemene vergadering Sole resolution Approval of a change of control provision, as required under Article 556 of the old Belgian Companies Code Unique résolution Approbation d’une clause de changement de contrôle, comme requis sous l’art
Slide 46: Extraordinary general meeting: first resolution
Extraordinary general meeting Assemblée générale extraordinaire Buitengewone algemene vergadering First resolution Amendment of the articles of association in order to bring them in line with the new Code of companies and associations and to modernize them Première résolution Modification des statut
Slide 47: Extraordinary general meeting: second resolution
Extraordinary general meeting Assemblée générale extraordinaire Buitengewone algemene vergadering Second resolution Composition of the supervisory board Deuxième résolution Composition du conseil de surveillance Tweede besluit Samenstelling van de raad van toezicht Umicore shareholders' meetings 30
Slide 48: Extraordinary general meeting: third resolution
Extraordinary general meeting Assemblée générale extraordinaire Buitengewone algemene vergadering Third resolution Powers Troisième résolution Pouvoirs Derde besluit Volmachten Umicore shareholders' meetings 30 April 2020 48
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