Umicore's Sustainability and Financial Report
Glossary
The below definitions cover Umicore's main financial Alternative Performance Measures (non-IFRS definitions).
Adjusted EBIT: EBIT - EBIT adjustments.
Adjusted EBIT margin: Adjusted EBIT of fully consolidated companies / revenues excluding
metals.
Adjusted EBITDA: 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).
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.
Capital employed: 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.
Capital expenditure: Capitalized investments in tangible and intangible assets, excluding
capitalized R&D costs.
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.
EBIT adjustments: 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 a.o. adjustments related to the sale of
business activities or environmental provisions related to historic pollution and environmental
remediation of closed sites.
umicore
Effective adjusted tax rate: Adjusted tax charge / adjusted profit (loss) before
income tax of fully consolidated companies.
Free cash flow from operations: cashflow generated from operations -
capex & capitalized development expenses
Gearing ratio: Net financial debt / (net financial debt + equity of the Group).
Market capitalization: Closing price x total number of outstanding shares.
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.
Return on capital employed (ROCE): Adjusted EBIT / average capital
employed.
Revenues (excluding metal): All revenue elements less the value of the
following purchased metals: Au, Ag, Pt, Pd, Rh, Co, Ni, Pb, Cu, Ge and also
incl. Li, Mn as of 2021. In order to neutralize distortions from fluctuating metal
prices and precious metal prices in particular, Umicore uses revenues
excluding the value of purchased metals rather than turnover (which include
the value of the purchased metals) to track its performance. This is an industry
practice followed by direct peers with similar activities.
R&D expenditure: Gross research and development charges, including
capitalized costs. The reported R&D figures exclude R&D of associates.
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