Umicore Sa · EURONEXT:UMI
Umicore Sa — Q3 2009 Earnings Presentation
11 slides from Umicore Sa's earnings presentation, Oct 28, 2009
Slide 1: Q3 2009 Trading update
Q3 2009 Trading update 28 October 2009
Slide 2: Summary
Summary • Revenues 20% below Q3 2008 and 4% below Q2 2009 • Improved demand and de-stocking effects in many industry segments have come to an end • Seasonal effects not as pronounced as had been expected • Earnings benefit from cost reduction measures • Operating cash flows remain strong and net deb
Slide 3: Group outlook
Group outlook Umicore expects recurring EBIT for the full year 2009 to be in the order of € 140 million • Improvement attributable to • Continued resilience of PMS in weaker supply environment • Improved demand in certain businesses (eg AC, rechargeable batteries) • Seasonal impacts less severe than
Slide 4: Advanced Materials
Advanced Materials • Revenues -24% vs Q3 2008; -5% vs Q2 2009 • Some improvement in rechargeable battery materials and accelerated migration to NMC compounds • Other cobalt and nickel activities remained subdued, including recycling • Good performance of the germanium-related activities • New plant
Slide 5: Precious Metals Products and Catalysts
Precious Metals Products and Catalysts • Revenues -17% vs Q32008; -1% vs Q2 2009 • Global car production -5% year-on-year and up 20% sequentially driven by incentive programmes. Impact on catalyst sector negligible, however, due to mix effect • Improvements also noted in other Precious Metals Produc
Slide 6: Precious Metals Services
Precious Metals Services • Revenues -30% vs Q3 2008; -3% vs Q2 2009 • Resilient performance given the supply environment; the unit was able to secure substitute supply streams • Electronic scrap availability remains good, spent car catalyst supply remains still weak • Average metal prices for long-t
Slide 7: Zinc Specialties
Zinc Specialties • Revenues -10% vs Q3 2008; -9% vs Q2 2009 • Building Products continued to outperform the overall construction market • Sales of pre-weathered products continued to increase • Demand for fine zinc powders has weakened while sales of oxides remained low • Sales of materials for prim
Slide 8: Cost reduction measures
Cost reduction measures • Workforce reduction of some 130 in Q3 • Restructuring measures have been announced in Hanau, Germany • Sale agreed of remaining brazing materials site in Yangzhong, China • Fewer employees now on temporary work regimes 4
Slide 9: Financial items
Financial items • Strong operational cash flows • Little change to HY net debt • Some development costs relating to programmes in automotive catalysts, rechargeable batteries and recycling will be capitalized from H2 2009. The effect on REBIT will be some €10 million, to be added to the guidance and
Slide 10: Forward-looking statements
Forward-looking statements • This presentation contains forward-looking information that involves risks and uncertainties, including statements about Umicore’s plans, objectives, expectations and intentions. • Readers are cautioned that forward-looking statements include known and unknown risks and
Slide 11: umicore
© umicore moterials-fr a bette life