Umicore Sa · EURONEXT:UMI
Umicore Sa — H1 2021 Earnings Presentation
26 slides from Umicore Sa's earnings presentation, Jul 30, 2021
Slide 1: Umicore H1 2021 performance
Umicore H1 2021 performance Umicore PUBLIC document Umicore PUBLIC document 30 July 2021
Slide 2: Agenda
Agenda • Highlights H1 2021 • 2021 outlook • H1 2021 business review • H1 2021 financial review • Wrap-up • Q&A Umicore PUBLIC document H1 2021 Umicore performance 2
Slide 3: Highlights H1 2021
Highlights H1 2021 Strong performance across business groups driving record results: revenues +37% and adj. EBIT +157% ENERGY & SURFACE CATALYSIS TECHNOLOGIES RECYCLING Strong outperformance of car Substantially higher sales New record performance: market volumes of cathode materials nearly YoY doub
Slide 4: 2021 outlook
2021 outlook Umicore PUBLIC document Umicore PUBLIC document
Slide 5: Guidance for full year 2021 raised
Guidance for full year 2021 raised Based on the strong performance in H1 and assuming precious metal prices remain around current1 levels for the remainder of the year, Umicore expects its adjusted EBIT for the full year 2021 to slightly exceed € 1 billion2. Compared to 2020, this FY outlook incorpo
Slide 6: Guidance for full year 2021 raised
Guidance for full year 2021 raised CATALYSIS ENERGY & SURFACE RECYCLING TECHNOLOGIES 2021 adj. EBIT expected to more 2021 adj. EBIT expected to grow 2021 adj. EBIT expected to reach than double compared to 20201 meaningfully and may slightly exceed exceptional levels, well above 20203 current market
Slide 7: Setting new industry standards in sustainability
Setting new industry standards in sustainability Employees NetZero Public sector Society GHG emissions by 2035 and authorities Customers Suppliers Zero Zero harm inequality Business Shareholders & partners fund providers Net Zero GHG. Zero regrets. Neighbors Endless possibilities. UmicorePUBLIC Umic
Slide 8: H1 2021 business review
H1 2021 business review Umicore PUBLIC document Umicore PUBLIC document
Slide 9: Key figures H1 2021
Key figures H1 2021 REVENUES Adjusted EBIT Free Operating Cash Flow € 656 m € 2.1 bn € 625 m Net debt at € 1,040 m +37% YoY +157% YoY Net debt / LTM Adj. EBITDA 0.87x Adjusted NET PROFIT Adjusted EBITDA CAPEX € 166 m (Group share) € 762 m € 428 m +103% YoY Adjusted EPS € 1.78 ROCE 28.4% Interim divi
Slide 10: Auto industry recovering from COVID-19
Auto industry recovering from COVID-19 Monthly global passenger car production across all powertrains (source: IHS & Umicore - 19/07/2021) H1 2021 global 9,000,000 car production 8,000,000 +30% vs H1 2020 7,000,000 H1 21 global car 6,000,000 production still 5,000,000 13% below pre- COVID H1 2019 4,
Slide 11: Catalysis H1 2021 performance
Catalysis H1 2021 performance Revenues +59% and adj. EBIT +853% Automotive Catalysts REVENUES 1,000 Strongly outperforming recovering car market in key regions 800 908 Further market share gains and favorable platform mix in 794 743 600 717 709 652 633 620 LDV, esp. in Europe and China 571 400 Stron
Slide 12: E&ST H1 2021 performance
E&ST H1 2021 performance Revenues +7% and adj. EBIT +44% REVENUES Rechargeable Battery Materials 700 Substantial increase in cathode materials volumes primarily for 600 650 639 618 607 594 500 557 the European EV market, both YoY and sequentially 495 488 400 398 300 Lower contribution from cobalt re
Slide 13: E&ST H1 2021
E&ST H1 2021 Commissioning of cathode materials plant in Nysa, Poland First industrial scale cathode materials production plant in Europe Commissioned end of H1 2021 with initial commercial production volumes expected around year-end Carbon neutral as of start of production with 100% green power sup
Slide 14: Exceptionally high and volatile precious metals prices, in particular rhodium
Exceptionally high and volatile precious metals prices, in particular rhodium Rhodium (EUR/kg) Palladium (EUR/kg) Silver (EUR/kg) H1 21 price average 800 of € 656,603/kg 800,000 80,000 700 700,000 70,000 600 H1 21 price average of € 706/kg 600,000 60,000 H1 21 price average 500 500,000 of € 69,188/k
Slide 15: Recycling H1 2021 performance
Recycling H1 2021 performance Revenues +48% and adj. EBIT +94% REVENUES Precious Metals Refining 600 652 Record precious metals prices 450 Excellent supply and trading conditions 440 396 300 368 339 327 313 311 300 Strong demand across end-markets and regions 150 Robust operational performance and o
Slide 16: H1 2021 financial review
H1 2021 financial review Umicore PUBLIC document Umicore PUBLIC document
Slide 17: Outstanding Adj. EBIT(DA) and margins
Outstanding Adj. EBIT(DA) and margins Driven by demand recovery and exceptional metal price environment Adj. EBIT & Adj. EBIT margin 700 28.6% 0.3 Adjusted EBIT at € 625 million, up 157% compared 600 to H1 20, which was severely impacted by COVID- 0.25 625 500 17.2% 15.2% 15.9% 14.3% 15.3% 0.2 400 1
Slide 18: Full P&L
Full P&L Million € H1 2020 H1 2021 Adjusted EBIT 243 625 Substantial increase in Adj. net - Net finance cost (45) (52) Group result and Adj. EPS, reflecting strong Adj. EBIT - Adjusted Tax (47) (140) increase Adjusted net result 151 433 - Minorities (3) (5) Increase in adjusted net financial cost du
Slide 19: Net cash flow bridge
Net cash flow bridge million € 900 800 Free operating cashflow of 180 € 656 million, including € 30 700 million working capital 600 836 72 22 reduction, driving a € 374m decrease in reported net 500 120 656 39 financial debt 400 29 300 374 200 Combined cash out of 100 € 214 million related to net in
Slide 20: Free operating cash flow at record level
Free operating cash flow at record level million €, continued operations only 1000 836 800 Cash flow from operations after changes in 806 600 437 347 359 working capital tripled to a record € 836 400 308 330 200 363 298 327 million 102 241 275 30 10 0 -200 -10 -89 -72 -32 Decrease in cash working ca
Slide 21: Adjustments to EBIT
Adjustments to EBIT million € H1 2020 H2 2020 H1 2021 - € 39 million EBIT adjustments : • Additional Hoboken green zone Restructuring-related (31) (97) (10) provision of € 41 million Selected asset-impairments (31) (14) (17) • - € 24 million adjustment related (1) Million € (55) to closure of HDD pl
Slide 22: Wrap up
Wrap up Umicore PUBLIC document Umicore PUBLIC document
Slide 23: Wrap up
Wrap up Full year guidance raised: adj. EBIT to Outstanding H1 performance across slightly exceed € 1billion based on business groups leading to record strong H1 and assuming metal prices results remain around current1 levels for the remainder of the year Bold ESG ambitions under “Let’s go Strengthe
Slide 24: Q&A
Q&A Umicore PUBLIC document Umicore PUBLIC document
Slide 25: Financial calendar
Financial calendar 20 August 2021 Ex-interim dividend trading date 23 August 2021 Record date for the interim dividend 24 August 2021 Payment date for the interim dividend ` Umicore PUBLIC document Umicore H1 2021 performance 25
Slide 26: Umicore PUBLIC document
. umicore materials fr a better, life