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    UMI   BE0974320526

UMICORE

(UMI)
  Report
Real-time Euronext Bruxelles  -  11:35 2022-11-25 am EST
34.30 EUR   -0.49%
11/25Umicore completes EUR591 million sustainability linked private debt placement
AQ
11/24Umicore completes EUR 591 million sustainability linked private debt placement
AQ
11/24Umicore Closes $616 Million Sustainability-linked Debt Offering
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Umicore sees new plant in Poland powering 3 million EVs in second half of decade

09/21/2022 | 07:57am EST

(Reuters) - Belgian firm Umicore sees its newly inaugurated battery materials plant in Poland potentially powering 3 million electric vehicles (EVs) in the second half of the decade, it said on Wednesday.

The company said it saw potential to increase the plant's annual production capacity in gigawatt hours (GWh) to over 200 GWh in the second half of the decade, the equivalent of 3 million electric vehicles.

"The current energy crisis will be a facilitator of electrification," Chief Executive Officer Mathias Miedreich said during a press conference, adding that "customers' electric vehicles are selling like never before".

The plant, which Umicore is inaugurating in Nysa, Poland, but has been in production since July, has about 240 employees, with an expected rise to 400 by the end of next year, the company added.

Umicore is betting on supplying carmakers with battery materials to meet growing EV demand as the European Union pushes towards net-zero emissions. It has already signed EV deals with the likes of ACC and Volkswagen.

In June its shares fell sharply after it unveiled a 5-billion-euro ($4.95 billion) plan to ramp up investment in battery materials, as analysts raised concerns about potential higher debt and external funding required.

"Investor scepticism around the significant capex budgets seems overdone as most of the investments are quite modular," KBC Securities said in a note on Wednesday.

The new plant is powered by a nearby onshore wind farm, Umicore said.

($1 = 1.0094 euros)

(Reporting by Olivier Sorgho; Edited by Emelia Sithole-Matarise)

By Olivier Sorgho


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
KBC CORPORATION, LTD. -1.88% 256.83 End-of-day quote.-27.66%
KBC GROUPE NV 0.34% 53.24 Real-time Quote.-29.45%
UMICORE -0.49% 34.3 Real-time Quote.-4.06%
VOLKSWAGEN AG -0.32% 136.56 Delayed Quote.-23.06%
All news about UMICORE
11/25Umicore completes EUR591 million sustainability linked private debt placement
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11/24Umicore completes EUR 591 million sustainability linked private debt placement
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11/24Umicore Closes $616 Million Sustainability-linked Debt Offering
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11/24Umicore completes Ç 591 million sustainability linked private debt placement
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11/24Umicore SA Completes €591 Million Sustainability Linked Private Debt Placement
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11/18Volkswagen in talks with pre-IPO investors for battery unit - sources
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11/08Umicore - Our journey to decarbonization
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11/07Umicore : Our journey to decarbonization
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Analyst Recommendations on UMICORE
More recommendations
Financials
Sales 2022 4 199 M 4 366 M 4 366 M
Net income 2022 566 M 588 M 588 M
Net Debt 2022 1 239 M 1 289 M 1 289 M
P/E ratio 2022 14,8x
Yield 2022 2,29%
Capitalization 8 235 M 8 563 M 8 563 M
EV / Sales 2022 2,26x
EV / Sales 2023 2,24x
Nbr of Employees 11 350
Free-Float 81,5%
Chart UMICORE
Duration : Period :
Umicore Technical Analysis Chart | MarketScreener
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Technical analysis trends UMICORE
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Last Close Price 34,30 €
Average target price 35,78 €
Spread / Average Target 4,31%
EPS Revisions
Managers and Directors
Mathias Miedreich Chief Executive Officer
Wannes Peferoen Chief Financial Officer
Thomas Leysen Non-Executive Chairman-Supervisory Board
Ann Steegen Chief Technology Officer
Patrick Vermeulen Senior Vice President-Information Systems
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