Umicore publishes 2022 Integrated Annual Report

Umicore publishes 2022 Integrated Annual Report

Rising today to transform tomorrow

Umicore published it’s 2022 Integrated Annual Report today, offering a comprehensive and integrated overview of the Group’s economic, financial, environmental, operational, social and value chain performance over the past year. Umicore is committed to fully disclosing its value to – and impact on – society with increased transparency and additional reporting frameworks. Next to the report being published in accordance with the GRI¹ Standards, Umicore’s extra-financial reporting is also aligned with the EU Taxonomy², SASB³ and TCFD⁴.

Eventful year reflecting strong progress in the execution of its 2030 RISE Strategy

“In a disruptive and volatile context, Umicore demonstrated strong resilience in its 2022 financial performance and at the same time, we articulated an ambitious growth strategy – Umicore 2030 RISE. Our role in supporting the pressing need for a more circular economy and mobility transformation worldwide has come clearly to the fore,” said Mathias Miedreich, CEO of Umicore.

The year stood out with the introduction of Umicore’s 2030 RISE growth strategy, leveraging its unique position to capture the significant growth opportunity of the mobility transformation. The Rechargeable Battery Materials activity made important progress in its growth trajectory. It secured multiple long-term value-creative customer contracts and supplier partnerships, achieved major operational milestones in having completed the roll-out of a full battery materials value chain in Europe and announced similar plans for North America. The Catalysis and Recycling business groups again demonstrated their resilience, operational excellence and ability to generate strong free cash flows in a challenging market context. The Group also diversified and extended its funding base at attractive conditions with newly issued sustainability-linked debt instruments. These achievements are proof points for its execution over the time-frame of its 2030 RISE Strategy and beyond.

Umicore also made strong progress on its ESG roadmap, building on its Let’s Go for Zero ambitions. Umicore continues to act decisively towards its objective of reaching net-zero Scope 1 and 2 Greenhouse Gas emissions (GHG) by 2035. In 2022, the Group reduced Scope 1 and 2 GHGs by 13% compared to 2019 and increased its share of renewable electricity to 35% from 17% in 2021. In addition, Umicore announced its ambitious Scope 3 target to reduce the carbon intensity of purchased materials by 42% by 2030 (vs. 2019 baseline). Furthermore, the Science Based Target initiative (SBTi) validated Umicore’s intermediate GHG reduction targets for 2030 as science-based and aligned with the Paris Agreement.

“This solid 2022 performance was only achievable thanks to our amazing and talented Umicore team. I want to thank you for your hard work and dedication. My gratitude also goes to all our stakeholders for your continued contributions and commitment. We look forward to continuing our journey and embarking on this new chapter together with you all in 2023 and beyond,” said Mathias Miedreich.

Read more about our 2022 performance on our annual report website here or in the English and Dutch versions of the report which are available here.

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About Umicore

Umicore is a circular materials technology Group. It focuses on application areas where its expertise in materials science, chemistry and metallurgy makes a real difference. Its activities are organised in three business groups: Catalysis, Energy & Surface Technologies and Recycling. Each business group is divided into market-focused business units offering materials and solutions that are at the cutting edge of new technological developments and essential to everyday life.  

Umicore generates the majority of its revenues and dedicates most of its R&D efforts to clean mobility materials and recycling. Umicore’s overriding goal of sustainable value creation is based on an ambition to develop, produce and recycle materials in a way that fulfils its mission: materials for a better life.  

Umicore’s industrial and commercial operations as well as R&D activities are located across the world to best serve its global customer base. The Group generated revenues (excluding metal) of € 4.2 billion (turnover of € 25.4 billion) in 2022 and currently employs more than 11,000 people.  

¹ https://www.globalreporting.org/

² https://eu-taxonomy.info/

³ https://www.sasb.org/

⁴ https://www.fsb-tcfd.org/