Umicore invests half a billion euros in new battery recycling plant in Europe – Companies

The materials group Umicore on Wednesday unveiled its strategic plan for the coming years. She sees opportunities to ‘more than double’ sales by 2030, Umicore said in a press release. The company also expects to invest around 5 billion euros by 2026, of which around half a billion euros in a new battery recycling facility in Europe.

Last year, Umicore had record numbers with a turnover of 4 billion euros and a net profit of 667 million euros. But the ambitions for the coming years go even further. Umicore expects to benefit from the transition to electric driving. For example, the battery materials division is “ready to achieve profitable growth,” according to the company. By 2025, it also aims to enter the North American market with these activities. In terms of the catalyst division, Umicore aims to open the world’s largest fuel cell catalyst plant in China by 2024.

And in terms of battery recycling, Umicore wants to invest 500 million euros in a new, large-scale factory in Europe. “At the time of the commissioning of this plant in 2026, Umicore is expected to be the first player in Europe to span the entire value chain of cathode materials with industrial capacity, making a strong contribution to the EU’s goal of creating sustainable and building a circular ecosystem for electric vehicle batteries in Europe. ‘

The factory is to be built in Europe, but the location has not yet been determined. The company has been recycling batteries in Hoboken since 2011. Umicore has learned a lot from this and has been able to develop a lot. It starts from a strong foundation, it sounds from the spokeswoman. For the entire group, Umicore sees a “potential” to more than double its revenue by 2030. EBITDA margins (EBITDA stands for profit before interest, tax, depreciation and amortization) should be over 20 percent. And by 2026, Umicore expects to invest a total of about 5 billion euros.

The new strategy was dubbed “Umicore 2030 – RISE”. She will be revealed in detail on Wednesday during a ‘Capital Markets Day’ for investors and analysts. Umicore is listed on the stock exchange and is part of Bel20, the star index on the Brussels Stock Exchange.

Umicore delivered record figures last year with a turnover of 4 billion euros and a net profit of 667 million euros. But the ambitions for the coming years go even further. Umicore expects to benefit from the transition to electric driving. For example, the battery materials division is “ready to achieve profitable growth,” according to the company. By 2025, it also aims to enter the North American market with these activities. In the Catalyst Division, Umicore aims to open the world’s largest fuel cell catalyst plant in China in 2024. And in battery recycling, Umicore plans to invest EUR 500 million in a new, large-scale plant in Europe. “At the time of the commissioning of this plant in 2026, Umicore is expected to be the first player in Europe to span the entire value chain of cathode materials with industrial capacity, making a strong contribution to the EU’s goal of creating sustainable and building a circular ecosystem for batteries for electric cars in Europe: ‘The factory is to be built in Europe, but the location has not yet been determined. The company has recycled batteries in Hoboken since 2011. Umicore has learned a lot from this and has been able to develop a lot. It starts from for the entire group, Umicore sees a “potential” to more than double its revenue by 2030. EBITDA margins (EBITDA stands for profit before interest, tax, depreciation and amortization) should be over 20 percent And by 2026, Umicore expects to invest a total of about 5 billion euros. The new strategy has been dubbed “Umicore 2030 – RISE”. She will be revealed in detail on Wednesday. g during a ‘Capital Markets Day’ for investors and analysts. Umicore is listed on the stock exchange and is part of Bel20, the star index on the Brussels Stock Exchange.

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