Umicore Targets Doubling of Revenue by 2030

   By Ed Frankl 
 

Umicore SA said Wednesday that it aims to double its revenue by 2030 as part of a new strategy released ahead of a capital markets day.

The Belgian materials and recycling company said it targets a margin on earnings before interest, taxes, depreciation, and amortization of more than 20% in the period, alongside a phased investment of around 5 billion euros ($5.27 billion) between 2022 and 2026.

The company aims to double its revenue by the end of the decade as part of the strategy, dubbed "Umicore 2030--RISE". It posted revenue of EUR4.0 billion in 2021.

The Brussels-based company also targets returns above the cost of capital throughout the period, with return on capital employed at 15% by 2030.

Umicore said it would establish a regional presence in North America by the end of 2025, while strengthening its position in Europe and Asia.

It also said it aims for "attractive free-cash-flow generation" in the second half of the decade.

"In line with our vision for sustainable growth, we continue to build on our clear purpose to produce materials for a better life through businesses that will help shape a more healthy planet and society, while delivering sustainable value to our stakeholders," Chief Executive Mathias Miedreich said.

Write to Ed Frankl at [e-mail]

(END) Dow Jones Newswires

June 22, 2022 02:55 ET (06:55 GMT)

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