Umicore's Sustainability and Financial Report
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Continued operations only,€ Millions
Free operating cash-flow remains strong
Supporting future growth
Operating cash-flow breakdown
1200
800
700
200
-300
92
-800
708
FY18
1405
1177
627
707
1238
603
549
-78
835
167
-104
umicore
-342
Cash flow from operations after
changes in working capital
at € 835 million, driven by higher
working capital requirements in E&ST
on the back of increased battery metal
prices
Free cash flow from operations
of € 344 million
Capex and capitalized development
expenses up yoy to € 491 million
▪ E&ST accounting for more than 60%
of Group capex, driven by RBMS
European expansion plan
Continued capex discipline for
expansion programs
FY19
Cashflow generated from operations
after net working capital cash flow
Free cash-flow breakdown
1200
FY20
FY21
FY22
Cashflow from operations before
net working capital cash flow
Net working capital
cash flows
405
603
989
835
549
700
344
168
92
200
-39
-406
-300
-800
-498
FY18
588
FY19
-435
-416
-491
FY20
FY21
FY22
Continued operations only,€ Millions
Cashflow generated from operations
after net working capital cash flow
Free cash flow
from operations
Capex capitalized
development expenses
Free cashflow from operations = cashflow generated from operations - capex & capitalized development expenses
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