Umicore NV/SA - Company Profile

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Umicore NV/SA: Segment Analysis

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Business Description

Umicore SA (Umicore), also known as Umicore NV, operates in catalysis, energy and surface technologies, and recycling. The company also develops, manufactures, and recycles a range of materials. Umicore reports its activities across four segments: Recycling, Catalysis, Energy & Surface Technologies, and Corporate. In FY2025, the company reported capital expenditure of EUR309.7 million which was 1.6% of the company’s total revenue and declined 44.2% YoY. Geographically, the company classified its operations into five regions: Europe, Asia Pacific, North America, South America and Africa.

R&D Overview

Umicore is engaged in various R&D initiatives focused on clean mobility, advanced metal-based materials, and recycling. The company is a global leader in developing high-performance materials for lithium-ion and solid-state batteries, with a technology roadmap that includes short-, mid-, and long-term research horizons. Umicore is also innovating in catalysis to improve air quality and contribute to cleaner mobility. The company has launched the Catalysis 2.0 incubator for research in hydrogen generation, storage, and carbon capture. In recycling, Umicore is pioneering eco-efficient processes to recover critical metals and support a circular economy. Additionally, the company is transforming non-ferrous metals into high-end technology materials for applications such as satellites and autonomous vehicles. As of December 2025, the company operated over 14 research and development centers. In FY2025, the company incurred an R&D expenditure of US$205.7 million which was 1.1% of the company total revenue and declined 20.1% YoY.

Business Segments

Overview

- Includes Battery Materials business unit. - Develop, manufacture and market of cathode materials (CAM) and its precursors (pCAM) for lithium-ion batteries, as well as the related refining activities of cobalt and nickel chemicals into a separate reporting segment Battery Materials. - Includes the associates Ganzhou Yi Hao Umicore Industries and Jiangmen Chancsun Umicore Industry as well as the joint venture IONWAY. In FY2025, the segment incurred a capital expenditure of EUR124.5 million, which declined 59.5% YoY.

Performance

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Overview

- Provides automotive catalysts for gasoline and diesel light and heavy-duty diesel applications, including on-road and non-road vehicles. It also offers stationary catalysis for industrial emissions control and produces precious metals-based compounds and catalysts for use in fuel cell applications and in the pharmaceutical and fine chemicals industries. - Includes the operations of Automotive Catalysts, Precious Metals Chemistry, and Fuel Cell & Stationary Catalysts business units. In FY2025, the segment incurred a capital expenditure of EUR65.4 million, which declined 16.3% YoY.

Performance

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Overview

- Included the corporate activities, shared operational functions, and the company’s Research, Development & Innovation unit.

Performance

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Overview

- Treats complex waste streams containing precious and other specialty metals. It can recover 20 of these metals from a wide range of input materials, from industrial residues to end-of-life materials. - Other activities include the production of precious metals-based materials essential for applications as diverse as high-tech glass production and electronics. - Consists of the business units Precious Metals Refining, Jewelry & Industrial Metals, Precious Metals Management, and Battery Recycling Solutions. In FY2025, the segment incurred a capital expenditure of EUR57.9 million, which declined 32.8% YoY.

Performance

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Overview

Includes the development, manufacturing and distribution of metal-based materials and chemicals for applications vital to everyday lives. It utilizes its refining and recycling capabilities to close the loop for its customers by transforming used metals into fresh inputs for the industry. In FY2025, the segment incurred a capital expenditure of EUR28 million, which grew 6.7% YoY.

Performance

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Geographical Segments

Target Markets

South Africa.

Performance

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Target Markets

Australia, China, India, Philippines, Japan, South Korea, Taiwan, Thailand, and the UAE.

Performance

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Target Markets

Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Liechtenstein, Luxembourg, Netherlands, Poland, Portugal, Spain, Russia, Sweden, Switzerland and the UK.

Performance

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Target Markets

Canada, Mexico and the US.

Performance

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Target Markets

Argentina, Brazil and Peru.

Performance

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