Slide 1: Umicore FY 2021 performance
Umicore FY 2021 performance 16 February 2022 Umicore PUBLIC document Umicore PUBLIC document Umicore cathode materials plant (Nysa, Poland)
Slide 2: Agenda
Agenda • All-time record results and cash flows • FY 2021 business review • FY 2021 financial review • Update on Let’s go for Zero • 2022 outlook • Capital Markets Day: 22 June 2022 • Wrap-up • Q&A Umicore PUBLIC document FY 2021 Umicore performance 2
Slide 3: Message from the CEO, Mathias Miedreich
Umicore is uniquely positioned to provide tomorrow’s sustainable solutions for clean mobility and recycling, and I am proud to lead a company with such a strong sense of purpose and deeply rooted technology focus. I am very impressed by the talented teams I have met, the industry-leading product and
Slide 4: Umicore 2021 FY Record Results and Cash Flows
Umicore 2021 FY Record Results and Cash Flows Umicore PUBLIC document Umicore PUBLIC document
Slide 5: Record results and cash flows
Record results and cash flows Strong operational performance across business groups, further boosted by metal prices Revenues Adjusted EBIT Revenue and earnings growth across billion € million € business groups 971 4000 4.0 1000 ▪ Strong and resilient operational +22% 900 +81% performance in all bus
Slide 6: Strong growth of Business Performance
Strong growth of Business Performance 30% adj EBIT growth excluding precious metal price effect Business Performance: appr. + € 160 million +37% • ~ € 700 million adj EBIT 2021 and approx. 30% adj. 1000 EBIT growth excluding precious metal price effect 900 +30% ~ € 270m • Strong operational performa
Slide 7: Outperformance of automotive market and operational efficiency in Catalysis
Substantial outperformance of the automotive market and high operational efficiency in Catalysis Umicore PUBLIC document Umicore PUBLIC document
Slide 8: Auto industry significantly impacted by semiconductor shortages in H2 2021
Auto industry significantly impacted by semi- conductor shortages in H2 2021 Monthly global passenger car production (all powertrains) Source: IHS (Jan. 2022 update) & Umicore ▪ Visible recovery of automotive industry from 9.000.000 COVID-19 in 1H 21 8.000.000 7.000.000 ▪ Severe decline in car produ
Slide 9: Catalysis FY 2021 performance
Catalysis FY 2021 performance Revenues +24% and adj. EBIT +112% H2 EBITDA margin H1 EBIT margin Strong performance across business units further supported by favorable PGM price environment Revenues 1.687 1.700 1.460 1.360 1.364 1.400 1.253 Automotive Catalysts 780 1.100 652 743 Strongly outperf
Slide 10: AC Revenues Composition
AC Revenues Composition Leading position in LD Gasoline and high growth in HDD 2021 Revenues by Segment Strong Position in LD-Gasoline ▪ Leading position in LD gasoline market segment in Europe and China 19% ▪ Strong portfolio of next generation catalyst technologies, in line with Heavy EU7 requirem
Slide 11: Demand recovery and higher EV cathode materials volumes in E&ST
Sharp demand recovery in key end-markets and higher sales volumes of EV cathode materials in E&ST Umicore PUBLIC document Umicore PUBLIC document
Slide 12: E&ST FY 2021 performance
E&ST FY 2021 performance Revenues +12% and adj. EBIT +85%, reflecting outstanding CSM contribution H1 EBITDA margin Revenues H2 EBIT margin 1289 1225 1174 1.300 1045 Rechargeable Battery Materials 1.050 894 639 618 580 EV NMC cathode materials volumes well up 800 488 495 Strong growth in EU sale
Slide 13: Global cathode materials capacity
Global cathode materials capacity Targeting to almost double capacity towards 2024 Growing portion of high nickel sales volumes ▪ Well-advanced qualifications for high nickel platforms with 38% 2021 European and Asian cell and car OEMs 65 GWh 62% ▪ First sizeable portion of high nickel cathode mater
Slide 14: European CAM Gigafactory Nysa
European CAM Gigafactory Nysa Production start in Q2/2022 ▪ First industrial scale cathode materials production plant in Europe ▪ Commissioned end of H1 2021 with initial commercial production volumes mid-2022 starting with Samsung SDI ▪ Capacity to reach 40 GWh in 2024 with potential to increase to
Slide 15: Battery Materials JV with Volkswagen AG
Battery Materials JV with Volkswagen AG Securing significant cathode materials volumes in Europe JV Principles 1. JV providing secured access to significant part of the European EV market resulting in substantial economies of scale for Umicore 1. 2. Valorizing Umicore’s long-standing technological i
Slide 16: Operational performance and precious metals price environment in Recycling
Robust operational performance, strong contribution from trading and exceptional precious metals price environment in Recycling Umicore PUBLIC document Umicore PUBLIC document
Slide 17: Precious Metal Market 2021
Precious Metal Market 2021 Exceptionally high and volatile precious metals prices Rhodium (EUR/kg) Platinum (EUR/kg) Silver (EUR/kg) ▪ Historically high precious 800.000 35.000 800 and PGM price levels, in particular for rhodium. 700.000 700 30.000 600.000 +73% ▪ Rhodium price peaked in 1H 600 2021
Slide 18: Recycling FY 2021 performance
Recycling FY 2021 performance Revenues +33% and adj. EBIT +58% H1 EBITDA margin H2 EBIT margin Precious Metals Refining Revenues 1.200 1108 Extraordinary metal price environment, with average price levels of 950 836 most precious metals well above previous year 681 457 650 626 700 Robust operati
Slide 19: 2021 financial review
2021 financial review Umicore PUBLIC document Umicore PUBLIC document
Slide 20: Record performance
Record performance Key figures REVENUES Adjusted EBIT Free Operating Cash Flow € 989 m € 4.0 bn € 971 m Net debt down to € 960 m +22% YoY +81% YoY Net debt / LTM Adj. EBITDA 0.77x Adjusted NET PROFIT Adjusted EBITDA CAPEX € 389 m (Group share) more than doubled to € 667 m € 1.25 Bn Adjusted EPS € 2.
Slide 21: Outstanding Adj. EBIT(DA) and margins
Outstanding Adj. EBIT(DA) and margins Driven by demand recovery and exceptional metal price environment Adj. EBITDA 1,251 Record operating earnings 1.200 Increase in adj. EBIT(DA) across all business groups 1.000 804 800 720 753 762 Driven mostly by outstanding 1H performance : 587 600 364 357 376 •
Slide 22: Free operating cash flow at record level
Free operating cash flow at record level High cash conversion, lower working capital and stable capex million €, continued operations only 1405 Cash flow from operations after changes in working 1200 1238 800 capital more than doubled to a record 707 700 436 444 489 627 € 1,405 million 549 603 200 3
Slide 23: Net cash flow bridge
Net cash flow bridge Reduction of net financial debt by € 0.5 billion year-on-year million € 1600 Free operating cashflow of close to € 1billion, including € 1400 167 million working capital 1,405 reduction and € 416 million 1200 - 416 investments. 72 1000 989 - 175 120 Combined cash out of - 42 800
Slide 24: Full P&L
Full P&L Doubling of net earnings Doubling of adjusted net earnings Million € FY 2020 FY 2021 and adjusted EPS on the back of operating results. Adjusted EBIT 536 971 Stable adj net financial charges. - Adjusted net financial charges (104) (100) Adj tax charges increased in line - Adjusted Tax (103)
Slide 25: Update on Let's Go for Zero
Update on Let’s Go for Zero Umicore PUBLIC document Umicore PUBLIC document
Slide 26: Implementing our ESG strategy
Implementing our ESG strategy Net Zero GHG Clear inroads made on tackling scope 2 emissions with several green PPAs in place New on-site renewables installations completed Committed in 2021 Scope 3 emissions target to be announced by mid-2022 Zero inequality & Zero harm New diversity, inclusion, wel
Slide 27: 2022 outlook
2022 outlook Umicore PUBLIC document Umicore PUBLIC document
Slide 28: Guidance for full year 2022
Guidance for full year 2022 Umicore expects again a strong underlying performance in 2022 across all of its business groups, despite the cost inflation and provided that geopolitical developments, the pandemic or supply-chain constraints will not result in additional material disruptions to the econ
Slide 29: Guidance for full year 2022
Guidance for full year 2022 Catalysis is expected to continue to benefit from its strong market position in gasoline catalyst applications in Europe and China as well as from the further ramp-up of its fuel cell activity, despite the limited visibility on automotive demand due to the ongoing semicon
Slide 30: Capital Markets Day 2022
Capital Markets Day 2022 Umicore is setting out its strategic roadmap to further build on its leadership positions in clean mobility materials and recycling and its unique approach to sustainability “We are looking forward to sharing our strategic roadmap at our Capital Markets Day.” Save the date:
Slide 31: Wrap-up
Wrap-up Umicore PUBLIC document Umicore PUBLIC document
Slide 32: Wrap up
Wrap up Outstanding operational Full year 2022 guidance for performance across business another strong underlying groups leading to record results performance Significant progress in preparing Long-term strategy to be Umicore for the next chapter of presented at Capital Markets growth Day on 22 June
Slide 33: Q&A
Q&A Umicore PUBLIC document Umicore PUBLIC document
Slide 34: Financial calendar
Financial calendar 25 March 2022 Publication of the annual report 2021 28 April 2022 Annual General Meeting 2 May 2022 Ex-dividend trading date 3 May 2022 Record date for the dividend 4 May 2022 Payment date for the dividend ` 22 June 2022 Capital Markets Day Umicore PUBLIC document FY 2021 Umicore
Slide 35: Forward-looking statements
Forward-looking statements This presentation contains forward- Should one or more of these risks, looking information that involves risks uncertainties or contingencies materialize, and uncertainties, including statements or should any underlying assumptions about Umicore’s plans, objectives, prove
Slide 36: Umicore PUBLIC document
. umicore materials fr a better, life