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    JMAT   GB00BZ4BQC70

JOHNSON MATTHEY PLC

(JMAT)
  Report
Delayed London Stock Exchange  -  11:35 2022-10-04 am EDT
1927.00 GBX   +2.91%
09/27Sterling's fall and recession fears sent Wall Street in bear territory
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08/22Johnson Matthey improves score with sustainability index FTSE4Good
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Sinopec Capital and Johnson Matthey explore strategic collaboration across decarbonisation and hydrogen technologies

08/04/2022 | 07:50am EDT

On 2nd August 2022, A Memorandum of Understanding (MoU) signed by Sinopec Capital and Johnson Matthey China signals the start of active dialogues to explore joint possibilities across green and blue hydrogen, fuel cells, decarbonisation technologies and circular economy business in China.

Mr ZHOU Meiyun, Deputy Chairman and General Manager of Sinopec Capital, said: 'Sinopec has made its long term development strategic goal and dedicated to become a No.1 hydrogen company in China and a leading clean energy company in the world. Sinopec is committed to develop and use various carbon reduction technologies including energy conservation and reduction, green energy replacement, and CCUS technologies and makes full efforts to reach the carbon neutralization target before 2060. We wish to have a deep collaboration with Johnson Matthey in carbon reduction and green energy fields to fully support achieving China's national strategic goal of 30/60 carbon peak/carbon neutralisation.'

Dr Mark Su, Johnson Matthey's China President, said: 'Johnson Matthey has a long heritage in China. We are China's leading auto catalyst producer, one of the largest platinum group metals refiners, a leading player across syngas and hydrogen fuel cells, and the first commercial scale MEA producer in China. Some of the world's biggest companies already rely on our technologies, and we are very excited to explore how we can work with Sinopec to expand our businesses whilst creating and scaling the low carbon solutions that help China achieve carbon neutrality by 2060.'

Sinopec is the largest oil and petrochemical products supplier and the second largest oil and gas producer in China. It is also the largest refining company and the second largest chemical company in the world. Sinopec Capital is a fully owned subsidiary of Sinopec Group launched in 2018 with RMB10bn initial paid-in registered capital. The company makes strategic equity investment activities on new energy, new material, energy conservation and environmental protection, advanced manufacturing, big data and artificial intelligence to support Sinopec Group transforming from a traditional energy provider to a leading clean energy company in the world.

Johnson Matthey is a global leader in sustainable technologies that enable a cleaner and healthier world. Its technologies have a global impact in areas such as low emission transport, energy, chemical processing and making the most efficient use of the planet's natural resources. It is a world leading hydrogen technologies player, with technologies supporting the development and production of green and blue hydrogen and fuel cells. Its China business started in 1993, growing to a top 50 company in Shanghai. It has six state-of-the art manufacturing facilities, proudly delivering over 120 million auto catalysts over the last two decades. It is the leading membrane electrode assembly (MEA) producer in China, and produced the MEAs for hydrogen fuel cell shuttle buses showcased in the Beijing Winter Olympic 2022.

Contact:

Tel: +44 (0)207 269 8001

Email: jmpr@matthey.com

(C) 2022 Electronic News Publishing, source ENP Newswire

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Analyst Recommendations on JOHNSON MATTHEY PLC
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Financials
Sales 2023 3 860 M 4 415 M 4 415 M
Net income 2023 337 M 386 M 386 M
Net Debt 2023 855 M 978 M 978 M
P/E ratio 2023 10,6x
Yield 2023 4,03%
Capitalization 3 521 M 4 027 M 4 027 M
EV / Sales 2023 1,13x
EV / Sales 2024 1,10x
Nbr of Employees 13 340
Free-Float 93,8%
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 1 927,00 GBX
Average target price 2 261,78 GBX
Spread / Average Target 17,4%
EPS Revisions
Managers and Directors
Liam Condon Chief Executive Officer & Director
Stephen Oxley Chief Financial Officer & Executive Director
Patrick Webster Thomas Chairman-Supervisory Board
Paul Jonathan Coby Chief Information Officer
Maurits van Tol Chief Technology Officer
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