Umicore's Sustainability and Financial Report
Operational cash flow profile.
Substantial free cash flows in Catalysis & Recycling reinvested into E&ST
umicore
Cumulative
cash flows
2022-2026
Catalysis
E&ST
Recycling
€ 6 - 7 bn
adj EBITDA
Net capex +
change in NWC
Group free
operational cash flow
appr. break even
Free oper CF
Potential for substantial operational free cash flows
after 2026 depending on level of growth investments
to accommodate post-2030 growth
Group total includes Corporate
Free Operational CF defined as adj EBITDA - equity accounted contribution - Capex- change in NWC
Net capex includes co-financing
Substantial free cash flows in
Catalysis and Recycling
Accelerating further beyond 2026
Reinvested in Rechargeable Battery
Materials expansion
E&ST cash payback after capacity
ramped-up (> 2026)
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