The below definitions cover Umicore’s Alternative Performance Measures (“APMs”)
Accident frequency rate
Number of lost time accidents per million hours worked. Accidents on the road to and from work are excluded.
Accident severity rate
Number of calendar days lost per thousand hours work. Accidents on the road to and from work are excluded.
EBIT - EBIT adjustments .
Adjusted EBIT margin
Adjusted EBIT of fully consolidated companies / revenues excluding metals.
Adjusted EBIT + adjusted depreciation and amortization of fully consolidated companies.
Adjusted EBITDA margin
Adjusted EBITDA of fully consolidated companies / revenues excluding metals.
Adjusted EPS (Earnings per share)
Adjusted net earnings, Group share / average number of (issued shares – treasury shares).
Adjusted EPS, basic
Adjusted net earnings, Group share / average number of outstanding shares.
Adjusted EPS, diluted
Adjusted net earnings, Group share / (average number of outstanding shares + number of potential new shares to be issued under the existing stock option plans x dilution impact of the stock option plans).
Assessment of product ( and services) sustainability (APS)
This Umicore specific methodology is used for assessing the sustainability of Umicore’s products and services and uses a tool consisting of 58 preformatted questions and answers with scoring and weighting factors and organized around eight themes.
An entity in which Umicore has a signiﬁcant inﬂuence over the ﬁnancial and operating policies but no control. Typically, this is evidenced by an ownership of between 20% and 50%. Associates are accounted for using the equity method.
Average capital employed
For half years: average of capital employed at start and end of the period; For full year: average of the half year averages.
Average number of shares outstanding, basic
Average number of outstanding shares.
Average number of shares outstanding, diluted
Average number of outstanding shares + number of potential new shares to be issued under the existing stock option plans x dilution impact of the stock option plans.
Biomarker of exposure
Substance or its metabolite that is measured in biological fluids (e.g. blood) to assess internal body exposure.
Fixed Assets + Working Capital (Inventories + adjusted Trade & Other Receivables – adjusted Trade & Other Payables) – Translation Reserves – Current & Non-Current provisions other than provisions for Employee Benefits.
Capitalized investments in tangible and intangible assets, excluding capitalized R&D costs.
Catalysis is a chemical process whereby one of the elements used in the reaction process, the catalyst, makes this chemical reaction possible, or speeds up this process, without being consumed in the reaction process, and therefore can be re-used.
The cathode is the positive side in a (rechargeable) battery. In the charging phase ions are released from the cathode and migrate to the anode (negative side), thereby storing electricity. In the discharging phase, the ions move back to the cathode, thereby releasing electricity.
A donation to a not-for-proﬁt organization that is not for the commercial beneﬁt of Umicore. Donations can be in cash or in kind. Political donations are not permitted.
Chinese emissions standard for light duty vehicles, similar to Euro 6.
For Umicore a “closed loop” involves taking back secondary materials from customers (e.g. production residues) or End-of- Life materials (e.g. used mobile phones, automotive catalysts). The recovered metals are then fed back into the economic cycle.
CO2 equivalent (CO2e)
The universal unit of measurement to indicate the global warming potential (GWP) of each of the six greenhouse gases, expressed in terms of the GWP of one unit of carbon dioxide. It is used to evaluate releasing (or avoiding releasing) different greenhouse gases against a common basis.
Minerals mined in conditions of armed conflict or human rights abuses, particularly gold, tin, tungsten and tantalum.
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is a voluntary private-sector organization which has established a common internal control model against which companies and organizations may assess their control systems.
Unit of noise level.
Full title: Dodd–Frank Wall Street Reform and Consumer Protection Act. The Dodd Frank Act aims to promote the ﬁnancial stability of the United States by improving accountability and transparency in the ﬁnancial system. Includes a requirement that companies using gold, tin, tungsten and tantalum make efforts to determine if those materials came from the Democratic Republic of Congo (DRC) or an adjoining country and, if so, to carry out a “due diligence” review of their supply.
Earnings before interest and taxes (EBIT)
Operating profit (loss) of fully consolidated companies, including income from other financial investments + Group share in net profit (loss) of companies accounted for under equity method.
Includes adjusted items related to restructuring measures, impairment of assets, and other income or expenses arising from events or transactions that are clearly distinct from the ordinary activities of the company. This includes adjustments related to the sale of business activities or environmental provisions related to historic pollution and environmental remediation of closed sites.
Effective adjusted tax rate
Adjusted tax charge / adjusted profit (loss) before income tax of fully consolidated companies.
Environment, health & safety.
EV - Electrified vehicle
Vehicle (passenger car or other) that runs fully or partially on electricity, rather than on conventional fuel.
Electroplating is a plating process in which metal ions in a solution (electrolyte) are moved by an electric ﬁeld to coat another material. The process is primarily used for depositing a layer of material to bestow a desired property on that other material.
Expressed in terms of voluntary leavers: number of employees leaving of their own will (excluding lay-offs, retirement, and end of fixed-term contract). This number is related to the total workforce.
Materials that have ended a first life cycle and will be re-processed through recycling leading to a second, third… lifetime.
European emission standard for exhaust emissions of light-duty, passenger and commercial vehicles.
European emission standard for exhaust emissions of heavy-duty diesel vehicles.
A result of a biological monitoring analysis that exceeds the (internal) target level.
Net financial debt / (net financial debt + equity of the Group).
Greenhouse gas (GHG)
GHGs are the six gases listed in the Kyoto Protocol: carbon dioxide (CO2); methane (CH4); nitrous oxide (N2O); hydrofluorocarbons (HFCs); perfluorocarbons (PFCs); and sulphur hexafluoride (SF6). See ‘Kyoto Protocol’.
Global warming potential (GWP)
A relative measure of how much heat a greenhouse gas traps in the atmosphere.
Heavy duty diesel (HDD)
Large diesel vehicles – either on-road, such as trucks and buses, or non-road such as heavy plant and mining equipment or locomotives and agricultural equipment.
Hours of training per person
Average number of training hours per employee – including internal and external training and training on-the-job. Training on-the-job can include the hours a person is being trained on the shop-floor, without being fully productive. The total number of training hours is divided by the total workforce.
See Secondary (raw) materials.
‘International Standards Organization’ specification for environmental management systems (ref. ISO).
Joint venture (JV)
A contractual arrangement whereby Umicore and another party undertake an economic activity that is subject to joint control. Joint ventures are accounted for using the equity method.
Korean Act on the Registration and Evaluation of Chemicals (K-REACH)
Korean chemicals policy to manage the risks from chemicals and provide substance safety information.
International treaty of the United Nations Framework Convention on Climate Change (UNFCCC) that requires countries listed in its Annex B (developed nations) to cut emissions to 5% below 1990 levels between 2008 and 2012. In 2012, the protocol was extended to 2020 but in 2015 it was effectively replaced by the ‘Paris Agreement’, where UNFCCC signatories agreed to limit warming “well below” 2°C.
Light duty vehicle (LDV)
Primarily passenger cars – using diesel, gasoline or other fuel.
Light emitting diode (LED)
LEDs are a semiconductor-based light source offering many advantages over traditional incandescent light sources, among which long lifetime and energy efﬁciency.
Lithium cobaltite (LCO)
Cathode material used in lithium ion rechargeable batteries, particularly suited for portable electronic applications.
Lithium ion (LI-ION)
Lithium ion is a technology for rechargeable batteries in which lithium ions move from the positive electrode (the cathode) to the negative electrode (the anode) during the charging phase, thereby storing electricity. In the discharging phase, the lithium ions move back to the cathode, thereby releasing electricity.
Lithium nickel manganese cobalt oxide (NMC)
Relatively new type of cathode material, which is used in the emerging (H)EV market and increasingly in portable electronic applications.
A work-related injury resulting in more than one shift being lost from work.
The identification of the most relevant and significant factors influencing Umicore and Umicore’s most significant economic, social and environmental impacts.
Closing price x total number of outstanding shares.
Microgram per deciliter (μg/dL)
Unit used when measuring metal content in blood.
Microgram per gram (μg/g)
Unit used when measuring metal content in urine.
Net cashflow before financing
Net operating cashflow – net cashflow generated by (used in) investing activities.
Net financial debt
Non-current financial debt + current financial debt - cash and cash equivalents.
Net debt / LTM adj. EBITDA
Net financial debt divided by adjusted EBITDA of the last 12 months.
An internationally-applied British Standard for occupational health and safety management systems.
Original Equipment Manufacturer (OEM)
In the automotive industry, refers to car manufacturers.
Issued shares– treasury shares.
A combination of chassis and engine type that is used on one or more models of passenger car, sometimes between different manufacturers.
Platinum group metals (PGM)
Platinum, palladium, rhodium, ruthenium, iridium and osmium (in Umicore’s case it refers mainly to the ﬁrst three).
Chemical substance that participates in the chemical reaction that produces another compound.
Predicted no effect concentrations (PNEC)
The concentration of a chemical which has no predicted effect on the environment.
Emissions generated from manufacturing processes, such as the CO2 that arises from the breakdown of calcium carbonate (CaCO3).
Safety issues related to the use and storage of hazardous chemical substances that may present a hazard to the employees, neighbouring people and the environment.
Gross research and development charges, including capitalized costs. The reported R&D figures exclude R&D of associates.
Registration, Evaluation and Authorisation of CHemicals (REACH)
European chemicals policy to manage the risks from chemicals and provide substance safety information.
Return on capital employed (ROCE)
Adjusted EBIT / average capital employed.
Revenues (excluding metal)
All revenue elements - value of purchased metals.
The evaluation of the risks of existing substances to man, including workers and consumers, and to the environment, in order to ensure better management of those risks.
Scope 1, 2 CO2e emissions
Scope 1 CO2e emissions: A reporting organization’s direct GHG emissions.
Scope 2 CO2e emissions: A reporting organization’s GHG emissions associated with the generation of electricity, heating/cooling, compresses air or steam purchased for own consumption.
Secondary (raw) materials
By-products of primary material streams.
Sustainable Development Goals (SDG)
The 17 Sustainable Development Goals adopted by the United Nations on September 25 2015 build on the Millennium Development Goals and aim at ending poverty, protecting the planet, and ensuring prosperity for all as part of a new UN sustainable development agenda. Each goal has specific targets to be achieved by 2030.
Umicore employees with a temporary contract. They are not considered part of the stable workforce, but are included in the total workforce.
Number of employees leaving at their own will (excluding lay-offs, retirement, and end of fixed-term contract). This number is related to the total workforce.
The use of water associated with our industrial activities in line with the definition of the term in the ISO14046 standard