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    UMI   BE0974320526

UMICORE

(UMI)
  Report
Real-time Quote. Real-time Euronext Bruxelles - 01/17 11:35:10 am
32.97 EUR   -2.40%
09:48aWhy has Umicore committed to SBTi
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01/14UMICORE : Why has Umicore committed to SBTi?
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2021Umicore - Disposal of own shares
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Umicore, Volkswagen Set Up Joint Venture for Battery-Cell Materials

12/08/2021 | 02:52am EST

By Kim Richters

Umicore SA and Volkswagen AG are setting up a joint venture to supply the car maker's European battery-cell production with cathode materials, the companies said on Wednesday.

The deal "aims at jointly building up precursor and cathode material production capacities in Europe, and sustainably securing responsibly sourced raw material capacities at competitive prices," said Volkswagen.

The companies plan to ramp up the joint venture's production capacity gradually, which will start in 2025 with initial annual production of 20 gigawatt hours for the auto maker's plant in Salzgitter, Germany.

Volkswagen also said Wednesday that it agreed to additional strategic partnerships related to battery technology. The car maker said it is investing in battery startup 24M Technologies Inc. and has agreed with Vulcan Energy Resources Ltd. on the supply of CO2-neutral lithium from the Upper Rhine Valley in Germany.

Volkswagen didn't disclose financial terms of the deals.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

12-08-21 0251ET

Stocks mentioned in the article
ChangeLast1st jan.
UMICORE -2.40% 32.97 Real-time Quote.-5.51%
VOLKSWAGEN AG -0.27% 192.58 Delayed Quote.8.80%
VULCAN ENERGY RESOURCES LIMITED -2.90% 9.72 Delayed Quote.-3.75%
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Analyst Recommendations on UMICORE
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Financials
Sales 2021 4 019 M 4 584 M 4 584 M
Net income 2021 619 M 706 M 706 M
Net Debt 2021 1 329 M 1 516 M 1 516 M
P/E ratio 2021 12,9x
Yield 2021 2,43%
Capitalization 7 952 M 9 071 M 9 069 M
EV / Sales 2021 2,31x
EV / Sales 2022 2,24x
Nbr of Employees 10 999
Free-Float -
Chart UMICORE
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Technical analysis trends UMICORE
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Last Close Price 32,97 €
Average target price 39,79 €
Spread / Average Target 20,7%
EPS Revisions
Managers and Directors
Mathias Miedreich Chief Executive Officer
Filip Platteeuw Chief Financial Officer
Thomas Leysen Chairman
Ann Steegen Chief Technology Officer
Patrick Vermeulen Senior Vice President-Information Systems
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1st jan.Capi. (M$)
UMICORE-5.51%9 306
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