Umicore Sa · EURONEXT:UMI
Umicore Sa — Shareholder Meeting (April 2024)
67 slides from Umicore Sa's shareholder meeting presentation, Apr 25, 2024
Slide 1: Ordinary and special shareholders' meetings 25 April 2024
• Ordinary and special shareholders’ meetings 25 April 2024
Slide 2: Agenda
Agenda 01 Review of 2023 02 Progress in sustainability roadmap 03 Governance 04 Remuneration 05 Q&A 06 Voting Umicore shareholders' meetings 25 April 2024 2
Slide 3: Review of 2023
Review of 2023 1 2024 Shareholders’ meeting
Slide 4: Highlights of 2023
Highlights of 2023 135 years in 20 years in Hoboken, Hanau, Germany Belgium Joined the Euronext Tech Leaders index Industrialization of manganese-rich Inaugurated unique large- battery materials scale prototyping center for technology for electric solid-state battery materials vehicles Umicore launc
Slide 5: Presented IONWAY and located its first production plant in Nysa, Poland
Presented IONWAY and Broke ground for our located its first production large-scale fuel cell plant in Nysa, Poland catalyst plant in China Confirmed our expansion of EV battery materials production footprint in Ontario, Canada Our first “At the core of battery materials” event Signed 5 long-term pow
Slide 6: Review of 2023: Financial achievements
Review of 2023: Financial achievements
Slide 7: Strong cash flows and margins in a tough year
Strong cash flows and margins in a tough year Revenues Free operating cash flow € 3.9 bn € 332 mn ✓ Resilient performance with Adj. EBITDA Adj. EBITDA > € 200 mn PGM price and margin inflation headwinds € 972 mn 25.0% ✓ While significantly stepping up investments for future growth ROCE Leverage rati
Slide 8: Strong adj. EBITDA margins in all segments
Strong adj. EBITDA margins in all segments In context of declining PGM prices and further cost inflation Revenue bridge (€ mn) Adj. EBITDA bridge (€ mn) 4,155 27 -211 3,876 1,151 -94 17 -31 1,107 -161 972 1,013 -4 532 372 1,278 1,067 290 27.3% Adj. EBITDA 259 margin 25.0% 1,776 1,804 419 436 FY 22 C
Slide 9: Financial discipline, accelerating efficiencies and additional strategic metal hedging
Financial discipline, accelerating efficiencies and additional strategic metal hedging ✓ Counteracting market headwinds Target EBITDA and delivering on 2030 RISE impact of ✓ Efficiency for Growth to support € 70 mn ✓ Cost optimization in 2024 ✓ Top-line growth > € 100 mn ✓ Working capital improvemen
Slide 10: Limited increase in Net financial debt
Limited increase in Net financial debt Leverage ratio of 1.30x LTM adj EBITDA • Net financial debt of € 1.3 bn Focus on CAPEX discipline, resulting in reduced net capital expenditures and funding needs • Leverage ratio of 1.30x LTM adj EBITDA • Disciplined capacity phasing in line with customer cont
Slide 11: Hedging of strategic metals exposure
Hedging of strategic metals exposure Increasing visibility and reducing volatility of future earnings 100% 100% 80% 80% Rhodium 60% Gold 60% 40% 40% 20% 20% 0% 0% 2024 2025 2026 2027 2028 2024 2025 2026 2027 2028 100% 100% 80% 80% Palladium Silver 60% 60% 40% 40% 20% 20% 0% 0% 2024 2025 2026 2027 20
Slide 12: Review of 2023: Business review
Review of 2023: Business review
Slide 13: Catalysis
Catalysis Catalysis Battery materials in transformation Recordwhile results setting for the base third for value consecutive creative year growth Colleague working at Umicore Catalysis Production Plant in Nowa Ruda, Poland Umicore shareholders' meetings 25 April 2024 13
Slide 14: Catalysis 2023 | Performance
Catalysis 2023 | Performance Strong market position unlocking substantial free Revenues (€ mn) 1,687 1,776 1,804 cash flows and margins 1,750 1,460 1,500 1,364 780 879 857 1,250 Automotive Catalysts 1,000 743 • Higher revenues reflecting strong performance in EU and other 794 750 regions 500 946 908
Slide 15: Automotive Catalysts 2023
Automotive Catalysts 2023 2023 Automotive Catalysts Fully on track capturing peak profitability to revenues per market segment maximize value HDD – Heavy Duty Diesel Strong market position LDD – Light Duty Diesel HDD • Leading position in LDG with strong market share gains in Europe 16% LDG – Light
Slide 16: E&ST
E&ST Reshaping to Battery Materials 2.0 and setting the base for 2024 ramp-up Colleague working in Umicore Battery Materials R&D Center. Cheonan, Korea Umicore shareholders' meetings 25 April 2024 16
Slide 17: E&ST 2023 | Rechargeable Battery Materials
E&ST 2023 | Rechargeable Battery Materials Significant milestones reached with focus on 2024 ramp-up At the Core of Umicore Battery Materials, From strategic plan to execution November 2023, Nysa, PL with global footprint in place ✓ Refined CAPEX plan towards 2030 ✓ c. € 1 bn of non-refundable grant
Slide 18: E&ST 2023 | Performance
E&ST 2023 | Performance Reshaping Battery Materials ahead of ramp-up E&ST Revenues (€ mn) Rechargeable Battery Materials 1,278 1,250 1,067 1,001 1,000 • Revenues down vs 2022 646 750 504 479 • Lower non-recurring Li effect 500 • Lower CAM revenues from legacy contracts 631 250 498 588 • Revenues fro
Slide 19: E&ST 2023 | Performance
E&ST 2023 | Performance Future Specialty Materials, focusing on growing need for advanced materials Markets • Tool materials Cobalt & Specialty Materials • Industrial catalysts • Superalloys & Hard Metals • Revenues below record 2022 level • Pigments & paints • Slowdown in demand across activities •
Slide 20: Recycling
Recycling Lay-out => subtitle to stand out more Resilient performance, substantially above pre-2020 levels Hoboken, main central building Umicore shareholders' meetings 25 April 2024 20
Slide 21: Recycling 2023 | Performance
Recycling 2023 | Performance Resilient performance in 2023, in context of less Revenues (€ mn) 1,250 1,108 1,107 favorable PGM prices 1,013 1,000 836 681 457 569 750 476 Precious Metals Refining 396 • Revenues below 2022, impacted by PGM prices 500 368 652 • Less favorable input-mix due to lower ava
Slide 22: Organizational & reporting structure aligned with 2030 RISE
Organizational & reporting structure aligned with 2030 RISE From 3 to 4 Business Groups as of 2024 based on important synergies and common characteristics while bringing increased focus Umicore shareholders' meetings 25 April 2024 22
Slide 23: Progress in sustainability roadmap
Progress in sustainability roadmap 2 2024 Shareholders’ meeting
Slide 24: Let's Go for Zero
Let's Go for Zero The ambitions Umicore shareholders' meetings 25 April 2024 24
Slide 25: Net zero GHG by 2035
Net zero GHG by 2035
Slide 26: Our ambitious decarbonization commitments
Our ambitious decarbonization commitments Net zero GHG scope 1 & 2 emissions by 2035 & Scope 3 target of -42% tons of CO2e/ton purchased materials by 2030 2025 2030 2035 Run 100% of European operations 50% reduction of Scope 1 + 2 Net Zero and 60% of global operations on emissions vs 2019 baseline S
Slide 27: Industry leader in climate performance
Industry leader in climate performance Further key steps in the Group’s decarbonization journey Climate Transition Plan unveiled 41% renewable electricity • Captures ongoing efforts to reduce globally, up from 35% GHG emissions across the 2021 baseline Group's operations and value chain European act
Slide 28: Net zero GHG performance 2023
Net zero GHG performance 2023 Decrease in GHG and increase in renewable electricity SCOPE 1+2 GHG EMISSIONS - MARKET BASED -20% scope 1+2 market-based emissions Tonnes CO2e compared to 2019 baseline 846,437 Nitric acid plant was fully operational in 791,815 732,545 698,649 Hoboken throughout 2023. I
Slide 29: Zero harm
Zero harm Umicore shareholders' meetings 28 April 2022
Slide 30: Caring for safety and wellbeing at work
Caring for safety and wellbeing at work Increased disclosure Process hazard assessment (PHA) and process risk Safety 2023 performance: analysis (PRA) TRIR - Total Recordable Injury Rate (per million hours) ▪ Continued to be carried out in 2023, with all but one of 147 high-priority processes complet
Slide 31: Managing our impact with care
Managing our impact with care Continue our commitment to significantly reduce our emissions Improved data 2023 performance collection, Net zero DIFFUSE METAL EMISSIONS – HOBOKEN SITE1 predictive modelling GHG and artificial % impact of the 2020 baseline intelligence to emissions reduce metal-to-air
Slide 32: Zero harm in our supply chain
Zero harm in our supply chain Over 15 years of responsible sourcing April 2023 marks the launch of our new sustainable procurement 2023 performance: frameworks for nickel and lithium ▪ More than 500 direct and indirect suppliers adhering to Umicore’s Global Sustainable Sourcing Policy or equivalent
Slide 33: Zero Inequality
Zero Inequality
Slide 34: Diversity and inclusion
Diversity and inclusion 11,948 Group employees in 2023 Gender parity in management WE 27.2% Women in management as soon as possible with 35% GO FOR women in management by 2030 32% of managers recruited in 2023 were women Increased 19.3% Non-Europeans in senior cultural diversity management in manage
Slide 35: Governance
Governance 3 2024 Shareholders’ meeting
Slide 36: Supervisory Board
Supervisory Board ▪ 10 regular Supervisory Board meetings in 2023 ▪ 95% attendance for regular Board meetings ▪ 100% attendance for NRC / AC / SC / IC meetings ▪ Group strategy ▪ Financial performance of the Umicore Group ▪ Environmental, social and governance (ESG) related topics, including but not
Slide 37: Proposed changes to Supervisory Board
Proposed changes to Supervisory Board Stepping down Proposed Mario Armero Philip Eykerman Frédéric Oudéa Umicore shareholders' meetings 25 April 2024 37
Slide 38: Remuneration
Remuneration 4 2024 Shareholders’ meeting
Slide 39: Management Board variable remuneration plan 2023
Management Board variable remuneration plan 2023 Umicore shareholders' meetings 25 April 2024 39
Slide 40: Remuneration for Management Board serving in 2023
Remuneration for Management Board serving in 2023 Management Board remuneration policy: ▪ Strong links between sustainability, strategy and pay ▪ Clear positioning vs European peers ▪ Strong attraction for executive talent Complete remuneration table and further details on Management Board remunerat
Slide 41: Remuneration for Supervisory Board serving in 2023
Remuneration for Supervisory Board serving in 2023 Supervisory Board remuneration policy: ▪ Fixed fee reflecting the level of responsibility ▪ Attendance fee ▪ Share-based compensation Shares held by the serving members of the Supervisory Board at end 2023 1,889,006 shares Umicore shareholders' mee
Slide 42: Q&A
Q&A 5 2024 Shareholders’ meeting
Slide 43: Voting
Voting 6 2024 Shareholders’ meeting
Slide 44: Shareholders' meeting - procedures
Shareholders’ meeting - procedures • Convening – supporting documents • Attendance • Conduct of the meetings - voting procedures Umicore shareholders' meetings 25 April 2024 44
Slide 45: Agenda: Ordinary shareholders' meeting
Agenda Ordinary shareholders’ meeting 1. Annual report of the supervisory board and report of the statutory auditor on the statutory annual accounts for the financial year ended on 31 December 2023. 2. Approval of the remuneration report 3. Approval of the statutory annual accounts for the financial
Slide 46: Agenda
Agenda 4. Communication of the consolidated annual accounts as well as the supervisory board report and the auditor's report on those consolidated annual accounts 5. Discharge to the members of the supervisory board 6. Discharge to the statutory auditor Umicore shareholders' meetings 25 April 2024 4
Slide 47: Agenda: Supervisory board composition
Agenda 7. Supervisory board composition • Re-electing Mr Thomas Leysen as member of the supervisory board for a period of 3 years expiring at the end of the 2027 ordinary shareholders’ meeting • Re-electing Mr Koenraad Debackere as independent member of the supervisory board for a period of 3 years
Slide 48: Agenda
Agenda 8. Remuneration of the supervisory board • Approving the board members’ remuneration proposed for the financial year 2024 9. Re-election of the statutory auditor and remuneration • Re-electing EY Bedrijfsrevisoren BV / EY Réviseurs d'Entreprises SRL, represented by Mr Marnix Van Dooren and Mr
Slide 49: Agenda: Special shareholders' meeting
Agenda Special shareholders’ meeting Approval of change of control provisions Umicore shareholders' meetings 25 April 2024 49
Slide 50: First resolution: Approval of the remuneration report
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 25 April 2024 50
Slide 51: Second resolution: Approval of statutory annual accounts
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Second resolution Approval of the statutory annual accounts of the company for the financial year ended on 31 December 2023 including the proposed allocation of the result Deuxième résolution Approbation des comptes st
Slide 52: Third resolution: Discharge to supervisory board members
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Third resolution Discharge to the members of the supervisory board Troisième résolution Décharge aux membres du conseil de surveillance Derde besluit Kwijting aan de leden van de raad van toezicht Umicore shareholders'
Slide 53: Fourth resolution: Discharge to the statutory auditor
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Fourth resolution Discharge to the statutory auditor Quatrième résolution Décharge au commissaire Vierde besluit Kwijting aan de commissaris Umicore shareholders' meetings 25 April 2024 53
Slide 54: Fifth resolution: Re-electing Thomas Leysen
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Fifth resolution Re-electing Mr Thomas Leysen as member of the supervisory board for a period of three years Cinquième résolution Réélection en qualité de membre du conseil de surveillance de Monsieur Thomas Leysen pou
Slide 55: Sixth resolution: Re-electing Koenraad Debackere
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Sixth resolution Re-electing Mr Koenraad Debackere as independent member of the supervisory board for a period of three years Sixième résolution Réélection en qualité de membre indépendant du conseil de surveillance de
Slide 56: Seventh resolution: Re-electing Mark Garrett
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Seventh resolution Re-electing Mr Mark Garrett as independent member of the supervisory board for a period of one year Septième résolution Réélection en qualité de membre indépendant du conseil de surveillance de Monsi
Slide 57: Eighth resolution: Re-electing Birgit Behrendt
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Eighth resolution Re-electing Mrs Birgit Behrendt as independent member of the supervisory board for a period of three years Huitième résolution Réélection en qualité de membre indépendant du conseil de surveillance de
Slide 58: Ninth resolution: Electing Frédéric Oudéa
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Ninth resolution Electing Mr Frédéric Oudéa as member of the supervisory board for a period of three years Neuvième résolution Election en qualité de membre du conseil de surveillance de Monsieur Frédéric Oudéa pour un
Slide 59: Tenth resolution: Electing Philip Eykerman
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Tenth resolution Electing Mr Philip Eykerman as independent member of the supervisory board with effective date 1 November 2024 for a period expiring at the end of the 2027 ordinary shareholders' meeting Dixième résolu
Slide 60: Eleventh resolution: Supervisory board members' remuneration
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Eleventh resolution Approving the supervisory board members’ remuneration Onzième résolution Approbation des émoluments des membres du conseil de surveillance Elfde besluit Goedkeuring van de voorgestelde vergoeding va
Slide 61: Twelfth resolution: Re-election of statutory auditor
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Twelfth resolution Re-election of EY Bedrijfsrevisoren BV / EY Réviseurs d’Entreprises SRL, represented by Mr Marnix Van Dooren and Mrs Eef Naessens, as statutory auditor for a duration of three years - approval of the
Slide 62: Thirteenth resolution: Sustainability information assurance
Ordinary general meeting Assemblée générale ordinaire Gewone algemene vergadering Thirteenth resolution Charging the statutory auditor with the assignment regarding the assurance of sustainability information in relation to the financial year 2024 (or for any longer duration which the Belgian law tr
Slide 63: Special meeting first resolution: Change of control provisions
Special general meeting Assemblée générale spéciale Bijzondere algemene vergadering First resolution Approval of change of control provisions, in accordance with Article 7:151 of the Code of companies and associations (grant agreement with the province of Ontario) Première résolution Approbation d’u
Slide 64: Special meeting second resolution: Change of control provisions
Special general meeting Assemblée générale spéciale Bijzondere algemene vergadering Second resolution Approval of change of control provisions, in accordance with Article 7:151 of the Code of companies and associations (sustainability-linked revolving credit facility agreement with several financial
Slide 65: Special meeting third resolution: Change of control provisions
Special general meeting Assemblée générale spéciale Bijzondere algemene vergadering Third resolution Approval of change of control provisions, in accordance with Article 7:151 of the Code of companies and associations (finance contract with the EIB) Troisième résolution Approbation d’une clause de c
Slide 66: 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 67: umicore
. umicore materials fr a better, life