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Annual report 2017

Annual report 2017

Supplements

Horizon 2020

We’re focused on delivering a strategy that matters and that creates benefits for everyone.

Economic perfomance Value chain & society Eco-efficiency Great place to work

Horizon 2020 objectives

Our Horizon 2020 strategy focuses on four key areas. To help us make an impact we have objectives that focus on specific aspects of each area.

  • Strengthen Leadership
  • Double Earnings
  • Rebalance Portfolio
  • Sustainable supply
  • Sustainable products & services
  • Efficient operations
  • Safety
  • Health
  • People engagement

Key risks & opportunities

We have identified six key risks and opportunities that are most impactful to our business. Here we show how they map to our strategic focus areas.

  • 1 Regulatory
  • 2 Supply
  • 3 Technology
  • 4 Market
  • 5 Metal price
  • 1 Regulatory
  • 2 Supply
  • 3 Technology
  • 4 Market
  • 1 Regulatory
  • 3 Technology
  • 6 Talent attraction & retention

Societal alignment

Our strategy is aligned to the UN Sustainable development Goals.

IMPORTANCE OF OUR OBJECTIVES KEY 2017 ACHIEVEMENTS KEY DEVELOPMENTS

STRENGTHEN LEADERSHIP

To position Umicore to thrive faced with the accelerating global megatrends of stringent emissions control, transport electrification and resource scarcity.

+9% 
Group revenues
annual growth

 

Umicore accelerated growth investments in rechargeable battery materials and strengthened our position in Catalysis and in Energy & Surface Technologies

DOUBLE THE EARNINGS

To secure Umicore’s future success and sustainability by consistently investing in R&D to develop and market innovative products and services, and to ramp-up capacity to meet growing market demand for Umicore products and services.

€410 m
2017 REBIT

+24% vs 2016
+56% vs 2014 benchmark

We anticipate approaching our Horizon 2020 target of doubling recurring EBIT to € 500 million in 2018, having established an equitable balance in contribution amongst Recycling, Catalysis and Energy & Surface Technology in 2017.

REBALANCE PORTFOLIO

To sharpen Umicore’s focus on the ambitious growth initiatives in clean mobility materials and recycling.

38% Catalysis

32% Energy & 
Surface Technologies

30% Recycling

2017 was a decisive year in bringing more focus to our portfolio of activities, bringing the number of business units down from 15 to 9 and the number of production sites down from 64 to 51.

IMPORTANCE OF OUR OBJECTIVES KEY 2017 ACHIEVEMENTS KEY DEVELOPMENTS

SUSTAINABLE SUPPLY

To provide environmental and ethical sourcing benefits for comparatively scarce raw materials in order to foster sustainable success and growth.

Fully aligned with OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas

We have used our expertise in cobalt and gold supply chain due diligence to establish a practice of responsible sourcing of platinum group metals as well as for raw materials used in cathode materials. 

We also initiated life cycle analyses of various products and services including the manufacturing of cathode materials, battery recycling and services from Precious Metals Refining in line with our Horizon 2020 sustainability objectives.

SUSTAINABLE PRODUCTS & SERVICES

To develop products and services that create sustainable value for our customers and society and increase resource security.

64.6%
of total revenues
from clean mobility
& recycling

vs 62% in 2016

The increase in sustainable products and servicesis the result of higher activity both in recycling and clean mobility.

Many of the materials and services making up the remaining revenues provide answers to specific societal needs such as improved connectivity or reduced energy consumption.

IMPORTANCE OF OUR OBJECTIVES KEY 2017 ACHIEVEMENTS KEY DEVELOPMENTS

EFFICIENT OPERATIONS

To make sustainability an irrefutable competitive advantage for Umicore.

-21%
energy consumption

vs 2015 benchmark, adjusted for intensity

 

Over the course of the year, 38 energy efficiency projects were implemented at the 23 sites accounting for 95% of our energy consumption.

Metal emissions fell markedly largely due to the increased efficiency of the wastewater treatment facility at our Hoboken site and improved filter and process efficiency with a focus on metals with high impact.

IMPORTANCE OF OUR OBJECTIVES KEY 2017 ACHIEVEMENTS KEY DEVELOPMENTS

SAFETY

To offer a safe workplace and embed a safety culture in our workforce.

51
accidents

vs 59 in 2016

The percentage of sites that operated with no lost-time accidents remained high at 84%,

Despite the slight decrease in accidents, Umicore feels there is no real change in performance. To address this, significant changes are being made to improve safety..

HEALTH

To monitor, manage and protect from exposure risks.

2.7%
excess readings

based on internal target values
vs 3.2% in 2016

Umicore is leading the industry by setting voluntary, science-based targets for potentially hazardous exposure that are more stringent than legal requirements, where they exist.

PEOPLE ENGAGEMENT

To ensure Umicore’s status as an employer of choice in all the regions where we operate. To manage talent as a driver for reaching our desired business growth.

9,769
employed

 

94.97%
retention rate

 

In the course of 2017, Umicore recruited about 10% of its total workforce.

In 2017, over 1,700 employees underwent performance and potential growth assessments, with feedback provided to each manager to develop a dialogue on talent development for access to different assignments and mobility opportunities.

Umicore believes that more diverse management teams improve the quality of decision-making and developed a group policy on diversity over the course of 2017 to support an inclusive work culture that offers equal opportunities. 

Umicore at a glance

View our global presence, activities, key figures and achievements

Umicore at a glance