Slide 1: Full-year results 2022
Full-year results 2022 16 February 2023
Slide 2: Speakers
Speakers Mathias Miedreich Chief Executive Officer Wannes Peferoen Chief Financial Officer Umicore - Full-year results 2022 2
Slide 3: Agenda
Agenda Agenda 1. 2. 3. Highlights Business Financial 2022 review review 4. 5. Progress in 2023 sustainability Outlook roadmap 6. 7. Wrap-up Q&A Umicore - Full-year results 2022 3
Slide 4: Highlights
Highlights 1 FULL-YEAR RESULTS 2022
Slide 5: Key figures 2022
Key figures 2022 Resilient business performance in a volatile market Revenues Leverage ratio € 4.2 bn +10% yoy 0.96x ROCE 19.2% Adj. EBITDA Free operating cash-flow € 1.2 bn -8% yoy € 344 m Revenue: Leverage ratio: all revenue elements less the value of the following purchased metals: Net financial
Slide 6: 2030 RISE
2030 RISE Net beneficiary of a changing world 2030 GROWTH Megatrends >100% Grow like Supporting our business model a start-up Revenues PROFIT Portfolio Synergetic, coherent, competitive >20% Create EBITDA value as an margin established RETURN company Purpose Sustainability at the core Writing the ne
Slide 7: Key milestones 2022
Key milestones 2022 Strong progress in executing 2030 RISE Customers & Contracts LT, strategic 46GWh supply agreement JV with VW PowerCo for 164 GWh CAM MoU with VW PowerCo for 40GWh in Mercedes-Benz honors Umicore AC for next generation Hi-Ni CAM with in Europe, a value-creative partnership North A
Slide 8: Key milestones 2022
Key milestones 2022 Strong progress in executing 2030 RISE Regional Value Chains & Manufacturing Footprint Start of production of the CAM Gigafactory Building a Fuel Cell Catalyst plant in LT supply agreement with Terrafame for low MoU with Canadian Government, in Nysa (Poland), making Umicore the o
Slide 9: Business review
Business review 2 FULL-YEAR RESULTS 2022
Slide 10: Catalysis
Catalysis Another year of high performance and market share gains Colleague working with robot at Umicore Catalysis Production Plant Umicore - Full-year results 2022 10
Slide 11: Catalysis 2022 | Market context
Catalysis 2022 | Market context Subdued global car market over 2022 Annual global passenger car production (all ICE powertrains) • Continued global logistic disruptions, shortages of semi-conductors, COVID-19 resurgence (H1 in China) Millions 100 87.6 90 80 73.0 72.5 73.6 • Manufacturers reduced pro
Slide 12: Catalysis 2022 | Performance
Catalysis 2022 | Performance Revenues up 5%, adj. EBITDA margin at 23.6% Catalysis revenues (€ m) 1,687 1,776 1,750 1,460 1,500 1,360 1,364 Record performance, margins well above historical levels 1,250 780 879 1,000 652 743 794 750 Automotive Catalysts 500 908 897 • Outperformed global car market,
Slide 13: Catalysis 2022 | AC revenue composition
Catalysis 2022 | AC revenue composition AC delivers strong free operating cash-flows in a challenging context 2022 Automotive Catalysts revenues per segment Strong market position • Leading position in LDG segment, with marketshare HDD 14% gains in most global markets in 2022 • Favorable customer an
Slide 14: E&ST
E&ST On track preparing growth and executing 2030 RISE Colleague working on the next generation of CAM in Umicore Process Competence Center, in Olen Umicore - Full-year results 2022 14
Slide 15: E&ST 2022 | Market context
E&ST 2022 | Market context Lithium price blasts mid-2021 Weighting battery powder in Olen, Process Lithium carbonate (EUR/kg) competence center 90 80 70 60 50 40 30 20 10 0 Average 2021 Average 2022 30/12/2022 spot price 14 €/kg 68 €/kg 75 €/kg Umicore - Full-year results 2022 15
Slide 16: E&ST 2022 | Market context
E&ST 2022 | Market context EV sales reached 10% of global new vehicles sales in 2022 • Mobility transformation – rapid acceleration continues • Regulatory push: EU zero-CO2 target in 2035 and US Inflation Reduction Act • Higher customer demand for EVs • Car OEMs commit to significant investments to
Slide 17: CAM Capacity Development
CAM Capacity Development Structural CAM undersupply European addressable CAM market supply & demand balance (GWh, excl. LFP) 1049 • 2022 - 2030 – NMC pCAM and CAM manufacturing 648 capacity in EU & N-A insufficient to cover local demand -28% • Supply gap to be only temporarily bridged from Asia: -73
Slide 18: E&ST 2022 | Performance
E&ST 2022 | Performance Revenues (€ m) Revenues +28%, adj. EBITDA margin at 22.3% 1,289 1,225 1,278 1,250 1,174 1,045 1,001 Higher revenues and earnings in RBM and CSM 1,000 639 618 580 646 750 488 504 500 Rechargeable Battery Materials 650 631 250 607 557 594 498 • As anticipated, sales volumes of
Slide 19: Recycling
Recycling Another excellent operational performance in 2022 Hoboken, main central building Umicore - Full-year results 2022 19
Slide 20: Recycling 2022 | Market context
Recycling 2022 | Market context Volatile precious metal prices Rhodium (KEUR/kg) 900 Hoboken plant 800 700 600 500 400 300 200 100 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Rh price 2021 Rh price 2022 Average 2021 Average 2022 30/12/2022 spot price 544 K€/kg 472 K€/kg 369 K€/kg Umicore - Ful
Slide 21: Recycling 2022 | Performance
Recycling 2022 | Performance Stable revenues, adj. EBITDA margin at 48.1% Revenues (€ m) 1,250 1,108 1,107 1,000 836 Excellent operational performance, tempered by inflation 681 457 569 750 626 headwinds and a less favorable precious metal price environment 396 500 300 368 250 652 537 327 313 440 Pr
Slide 22: Financial review
Financial review 3 FULL-YEAR RESULTS 2022
Slide 23: Key figures 2022
Key figures 2022 Resilient business performance in a volatile market Revenue bridge (€ m) 4,155 -2 Revenues Adj. EBITDA 3,791 276 89 € 4.2 bn € 1.2 bn 1,107 +10% yoy -8% yoy 1,108 1,278 1,001 Adj. Net profit, Adj. EBITDA 1,687 1,776 Group share margin FY 21 restated Catalysis E&ST Recycling FY 22 €
Slide 24: Condensed consolidated P&L
Condensed consolidated P&L Solid net result € Million 2021 2022 • Increase in adj. net financial cost, Adjusted EBITDA 1,251 1,151 reflecting higher net interest charges, - Depr. & Amortization (280) (286) in particular on short term loans, and somewhat higher FX-related Adjusted EBIT 971 865 costs
Slide 25: Free operating cash-flow remains strong
Free operating cash-flow remains strong Supporting future growth Operating cash-flow breakdown Cash flow from operations after Continued operations only ,€ Millions 1405 1177 1200 800 changes in working capital 627 707 1238 700 at € 835 million, driven by higher 835 549 603 167 working capital requi
Slide 26: Stable net financial debt versus end 2021
Stable net financial debt versus end 2021 Leverage ratio of 0.96x LTM adj EBITDA Net cash-flow bridge (€ m) • Net financial debt of € 1.1 bn (€ +0.1 bn yoy) • Leverage ratio of 0.96x LTM adj EBITDA • Free operating cashflow of € 344 million, despite € 342 million increase in working capital and € 49
Slide 27: Progress in sustainability roadmap
Progress in sustainability roadmap 4 FULL-YEAR RESULTS 2022
Slide 28: Progress in sustainability roadmap
Progress in sustainability roadmap Accelerating the transition to a sustainable future Good progress in Integration the principles SBTi validation of Umicore’s implementing the new safety of TCFD into Governance 2030 Scope 1/2/3 targets program, reaching the first and building climate resilience roa
Slide 29: 2023 outlook
2023 outlook 5 FULL-YEAR RESULTS 2022
Slide 30: Guidance for full year 2023
Guidance for full year 2023 CATALYSIS E&ST RECYCLING Automotive Catalysts is expected In Energy & Surface Technologies, In Recycling, the Precious Metals to benefit from its strong market it is expected that the earnings of the Refining business unit is expected to position in gasoline catalyst Rech
Slide 31: Wrap-up
Wrap-up 6 FULL-YEAR RESULTS 2022
Slide 32: Wrap-up
Wrap-up Resilient business performance in a volatile market Confirmed Active accelerating implementation megatrends of the 2030 RISE supporting the 2030 strategy with key RISE strategy milestones achieved Umicore - Full-year results 2022 32
Slide 33: Q&A
:; umicore materials fr a better life Q&A 7 FULL-YEAR RESULTS 2022
Slide 34: Thank you!
Thank you! Investor Relations contacts: Subscribe to our press-release Caroline Kerremans HEAD OF INVESTOR RELATIONS Caroline.kerrements@eu.umicore.com Eva Behaeghe SENIOR INVESTOR RELATIONS MANAGER Eva.behaeghe@eu.umicore.com Adrien Raicher INVESTOR RELATIONS MANAGER Adrien.raicher@eu.umicore.com U
Slide 35: Disclaimer
Disclaimer This presentation is provided This presentation contains forward-looking information that involves risks solely for general information and uncertainties, including statements about Umicore’s plans, objectives, purposes about Umicore and expectations its activities. This presentation and
Slide 36: Appendices
Appendices FULL-YEAR RESULTS 2022
Slide 37: Glossary
Glossary Adjusted EBIT EBIT - EBIT adjustments including total other income, income taxes, depreciation and amortization, and excluding non-recurring, irregular and one-time items Adjusted EBIT margin Adjusted EBIT of fully consolidated companies / revenues excluding metals Adjusted EBITDA Adjusted
Slide 38: Financial calendar
Financial calendar 28 March 2023 Annual report 2022 27 April 2023 AGM 2022 ` 02 May 2023 Ex-dividend trading date 03 May 2023 Record date for the dividend 04 May 2023 Payment date for the dividend 28 July 2023 Half-year results 2023 Umicore - Full-year results 2022 38