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    UMI   BE0974320526

UMICORE

(UMI)
  Report
Real-time Euronext Bruxelles  -  11:35 2022-11-28 am EST
34.10 EUR   -0.58%
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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Volkswagen joins Belgian Umicore in ú2.6bn battery parts joint venture

09/27/2022 | 01:21am EST

VOLKSWAGEN yesterday teamed up with Belgian materials firm Umicore and announced a €3bn (£2.6bn) battery parts joint venture.

The German powerhouse is the latest automotive maker aiming to bring battery production in-house to protect it from geopolitical tensions as it also reduces logistics costs.

While raw materials will be sourced from around the world, the venture will produce 160GWh worth of cell capacity a year, enough to power around 2.2m EVs.

Even though the mass ramp up will likely take place at Umicore's Polish plant, cathode production is scheduled to begin in 2025 at

Volkswagen's German factory in Salzgitter. The automotive maker will start with 40GWh of capacity by 2026, with plans to build six factories in Europe for a total of 240GWh of capacity by the end of the decade.

Volkswagen - set to overtake Tesla as the world's largest maker of battery EVs by 2024 - has pledged to build 800,000 EVs by the year's end.

(c) 2022 City A.M., source Newspaper

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Analyst Recommendations on UMICORE
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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 8 552 M 8 563 M
EV / Sales 2022 2,26x
EV / Sales 2023 2,24x
Nbr of Employees 11 350
Free-Float 81,5%
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Technical analysis trends UMICORE
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 18
Last Close Price 34,30 €
Average target price 35,83 €
Spread / Average Target 4,47%
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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