Umicore : Strategy update 2022-2026: Massive, and risky, investment program
>Updated strategy requires massive and risky investments - Umicore is holding a CMD today in London at which it will provide more details of its newly launched strategy called RISE 2030. The strategy calls for a massive, and in our view risky, investment program requiring €5bn over the next 5 years (whereas consensus 2022-2024 takes into account €600m on average) while EBITDA margins are expected to remain above 20% (in line with 2022-2024 consensus) but FCF and ROCE,...Umicore is global player in the materials technology and recycling industries. Co. focuses on application areas such as chemistry, materials science, metallurgy and recycling. Co.'s business model comprises four segments: Catalysis, Performance Materials, Energy Materials and Recycling. Catalysis focuses on the abatement of global automotive emissions; Performance Materials focuses on materials that help develop more sophisticated and safer products; Energy Materials produces materials used in the production and storage of clean energy including rechargeable batteries and photovoltaics; and Recycling treats complex waste streams containing precious and other non-ferrous metals.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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