Umicore SA (WBO:UMI)

€ 10.73 0.27 (2.58%) Market Cap: 2.57 Bil Enterprise Value: 3.98 Bil PE Ratio: 0 PB Ratio: 1.24 GF Score: 62/100

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Umicore SA and PowerCo Establish Joint Venture for European Battery Materials Production M&A Call Transcript

Sep 26, 2022 / 07:00AM GMT

Release Date Price: €30.31 (+3.24%)

Transcript

Operator

Hello, and welcome to our call on the unique partnership between Umicore and PowerCo. My name is Jess, and I'll be your coordinator for today's event. (Operator Instructions).

I will now hand over to your host, Mathias Miedreich, CEO, to begin today's call. Thank you.

Mathias Miedreich

Umicore SA - CEO & Chairman of Management Board

Thank you very much, and warm welcome also from my side. Good morning, everybody. It is a pleasure today that we can announce the successful signing of the joint venture agreement with Volkswagen through PowerCo on the creation of what we think a milestone in the European electrification targets. And I'm not only happy that we can announce this today. We have discussed this several times before. We have received many questions when will we be ready. But it was important for us to take the time for this agreement because, first of all, it's a substantial agreement that should last for a very long time. And secondly, we also have a specific requirement at Umicore to close such agreements, which is value creation. And I'm

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