Umicore

Earnings Release • Feb 7, 2013

Press release Regulated information 7 February 2013 - 07:30 CET CP-2013-04-R

FULL YEAR RESULTS 2012

Highlights

Umicore posted a solid full year performance against a backdrop of slowing demand. Revenues grew by 5% yearon-year, primarily due to increased sales volumes in the Catalysis and Recycling business groups. Recurring EBITDA was 5% lower. The economic slowdown negatively impacted product mix and margins, particularly in the Energy Materials and Performance Materials businesses. Recurring EBIT was down 11%, reflecting the above trends as well as higher depreciation costs linked to growth investments.

• Revenues of € 2.4 billion (up 5%);
• Recurring EBITDA of € 524 million (down 5%);
• Recurring EBIT of € 372 million (down 11%);
• ROCE of 16.7% vs 18.6% in 2011;
• Recurring net profit (Group share) of € 275 million (down 10%);
• Recurring EPS of € 2.47 (down 8%).

In response to the evolution in specific end markets, Umicore is adjusting its cost base and production footprint. Charges and provisions related to these measures accounted for the majority of the non-recurring EBIT of € -47 million.

Capital expenditures reached € 253 million while research & development spending was € 181 million. These represent an increase compared to 2011 reflecting the growth initiatives in Catalysis and Recycling.

Cash flows were positive and Umicore further strengthened its capital structure. Net debt was reduced to € 222.5 million, corresponding to a gearing ratio of 11%.

The Board of Directors will propose a gross annual dividend of € 1.00 per share at the Annual General Meeting on 30th April, of which € 0.50 was already paid out as an interim dividend in September 2012. The Board has also decided that the company will continue to buy back its own shares in the course of 2013 within the limits of the existing authorization.

Outlook

Visibility remains limited and there are currently no signs of significant changes to the market conditions that prevailed in the second part of last year. In the absence of any improvements in the end markets served by Umicore, and anticipating a lower contribution from the Recycling activities, it is likely that the recurring EBIT for 2013 will be lower than in 2012. Growth investments will remain at similar levels to 2012.

Note: All comparisons are made with 2011, unless mentioned otherwise.

Umicore Group Communications

Naamloze vennootschap / Société anonyme phone: +32 2 227 71 11 VAT: BE0401 574 852 Broekstraat 31 Rue du Marais fax: +32 2 227 79 00 company number: 04001574852 B-1000 Brussels e-mail: info@umicore.com registered office: Broekstraat 31 Rue du Marais Belgium website: www.umicore.com B-1000 Brussels

Key figures (in million €)	H2 2011	H2 2012	2011	2012
Turnover	7,601.1	5,694.2	14,480.9	12,548.0
Revenues (excluding metal)	1,172.0	1,186.9	2,318.6	2,427.6
Recurring EBITDA	272.3	257.9	553.0	524.1
Recurring EBIT	201.5	180.6	416.1	372.1
of which associates	11.7	10.9	22.9	22.2
Non-recurring EBIT	(4.0)	(25.0)	1.0	(46.7)
IAS 39 effect on EBIT	0.7	2.2	15.6	3.2
Total EBIT	198.2	157.7	432.7	328.6
Recurring EBIT margin	16.2%	14.3%	17.0%	14.4%
Average weighted interest rate	3.63%	1.46%	3.68%	1.92%
Effective recurring tax rate	19.91%	22.38%	19.93%	20.62%
Recurring net profit, Group share	146.6	129.3	304.6	275.2
Net profit, Group share	150.4	105.3	325.0	233.4
R&D expenditure	87.0	91.0	162.9	181.3
Capital expenditure	114.6	158.9	212.6	253.5
Net cash flow before financing Total assets of continued operations, end of period Group shareholders' equity, end of period Consolidated net financial debt of continued operations,	236.1 3,713.2 1,667.5	73.3 3,667.9 1,751.7	308.6 3,713.2 1,667.5	150.3 3,667.9 1,751.7
end of period	266.6	222.5	266.6	222.5
Gearing ratio of continued operations, end of period	13.4%	11.0%	13.4%	11.0%
Average net debt / recurring EBITDA	56.4%	46.3%	59.8%	47.7%
Capital employed, end of period	2,168.8	2,259.4	2,168.8	2,259.4
Capital employed, average	2,229.7	2,247.1	2,233.0	2,224.5
Return on Capital Employed (ROCE)	18.1%	16.1%	18.6%	16.7%
Workforce, end of period	14,572	14,438	14,572	14,438
of which associates	4,408	4,042	4,408	4,042
Accident frequency rate	4.22	2.14	3.61	2.86
Accident severity rate	0.14	0.07	0.11	0.11

The application of the revenue definition was reviewed in order to better exclude the pass-through metal element in the turnover. 2011 figures were adapted to this methodology for comparability reasons.

Key figures per share (in €/share)	H2 2011	H2 2012	2011	2012
Total number of issued shares, end of period of which shares outstanding of which treasury shares	120,000,000 110,756,062 9,243,938	120,000,000 111,886,512 8,113,488	120,000,000 110,756,062 9,243,938	120,000,000 111,886,512 8,113,488
Average number of shares outstanding basic diluted	112,920,873 113,824,961	111,792,198 112,544,805	113,304,188 114,208,275	111,593,474 112,346,081
Recurring EPS Basic EPS Diluted EPS	1.30 1.33 1.32	1.16 0.94 0.94	2.69 2.87 2.85	2.47 2.09 2.08
Dividend	0.60	0.50	1.00	1.00
Net cash flow before financing, basic	2.09	0.66	2.72	1.35
Total assets of continued operations, end of period Group shareholders' equity, end of period	33.53 15.06	32.78 15.66	33.53 15.06	32.78 15.66

S egment split

CATALYSIS

Catalysis key figures (in million €)	H2 2011	H2 2012	2011	2012
Total turnover	981.1	903.1	1,932.0	1,871.9
Total revenues (excluding metal)	423.7	413.4	814.2	866.1
Recurring EBITDA	59.5	58.7	119.4	124.4
Recurring EBIT	43.9	42.2	89.5	91.0
of which associates *	3.9	5.9	5.7	10.5
Total EBIT	44.5	38.5	96.8	83.8
Recurring EBIT margin	9.5%	8.8%	10.3%	9.3%
R&D expenditure	45.2	50.0	87.2	99.2
Capital expenditure	25.0	51.0	49.5	88.8
Capital employed, end of period	768.2	795.5	768.2	795.5
Capital employed, average	750.7	804.5	718.7	797.6
Return on Capital Employed (ROCE)	11.7%	10.5%	12.4%	11.4%
Workforce, end of period	2,182	2,281	2,182	2,281
of which associates *	239	161	239	161

* Automotive Catalysts: Ordeg Korea, ICT Co. Japan (until September 2012), ICT Inc. USA (until September 2012)

Overview and outlook

Revenues in the Catalysis business group rose by 6% year on year as a result of increased revenues in both Automotive Catalysts and Precious Metals Chemistry. Recurring EBIT grew less than revenues, mainly as a result of a change in the regional sales mix in Automotive Catalysts.

The European car market is expected to remain weak in 2013, while the prospects for North America and Asia are better. Capital expenditure will remain at a high level in anticipation of important changes in emission legislation in 2014.

Automotive Catalysts

Global automotive production increased by some 6% year on year, mainly driven by growth in Asia and North America, while the market in Europe was down. Globally, the growth of car production was more pronounced in the first half of the year and started to lose momentum in the second half. The evolution of Umicore's sales volumes and revenues followed the trend of global car production. The growth in revenues, however, did not fully translate into additional earnings mainly due to the shift in regional mix.

Vehicle production in Europe was down some 5% year on year. Umicore's volumes slightly outperformed the market due to a good exposure to better selling platforms. Revenues and margins, however, reflected an unfavourable change in the product mix, partially linked to the reduced share of diesel powered vehicles in the European car market. The expansion of production capabilities for automotive catalysts in Bad Säckingen, Germany, is well underway and will allow Umicore to cater for new contracts linked to the upcoming Euro 6 legislation. The workforce was reduced in South Africa, in line with reduced demand from the European market.

Car production in North America grew by 17% compared to the previous year. While Umicore's sales volumes and revenues increased, they grew somewhat less than the market due to a shift in platform and product mix. In South America, Umicore's revenues grew year on year in a flat market. The expansion of Umicore's technology centre in Americana, Brazil, is due to be operational in 2014.

Asian automotive production increased by some 11%, mainly driven by the recovery of the Japanese car industry after the natural disasters in 2011 (+20%) and steady growth in China (+6%). Korean car production was slightly down year on year. Umicore's sales volumes were in line with the market. The effect of the Japanese market growth was limited due to Umicore's smaller market share. This was compensated by an outperformance in the Chinese market due to a favourable customer and platform mix.

In the second half of 2012, Umicore and its longstanding partner Nippon Shokubai founded Umicore Shokubai, a joint venture which is majority owned by Umicore and will serve the needs of Japanese OEMs globally. The construction of a new technology development centre has started near Nagoya, Japan. The production of Umicore Shokubai in Hiimeji, Japan, was interrupted in October due to a fire that affected a nearby facility and Japanese customers were supplied out of other Umicore sites until production resumed mid-November. The new production line and technology development centre in Suzhou, China, were commissioned at the end of 2012.

The construction of a new production facility has commenced in Pune, India. The investment in Pune is in line with Umicore's strategy to invest in the key growth markets for automotive emission control systems and its timing is determined by the business awards that have been secured. The new plant, which will serve the needs of both global and domestic customers, is expected to be commissioned in mid 2014.

Throughout the year Umicore successfully secured new contracts for heavy duty diesel (HDD) applications. To cater for orders resulting from these contracts, Umicore is investing in additional HDD capabilities in Europe and China. Umicore announced recently the construction of a new HDD facility to produce Selective Catalytic Reduction systems (SCR) for NOx aftertreatment in Suzhou, China. While a first HDD production line is being commissioned in Florange, France, the decision has been made to install a second line on the site to fulfil European contracts.

Precious Metals Chemistry

Revenues for the business unit increased year on year. The continued success of Umicore's advanced catalytic solutions for life science and pharmaceutical applications and strong sales of catalysts used in bulk applications more than offset the subdued demand for precursors used in the automotive industry and non-catalytic pgm-based products.

The business unit is successfully growing its product portfolio in different end markets and is expanding its geographic footprint. The construction of the new production facility in Tulsa, Oklahoma is on track.

ENERGY MATERIALS

Energy Materials key figures (in million €)	H2 2011	H2 2012	2011	2012
Total turnover	350.7	373.3	729.3	763.7
Total revenues (excluding metal)	177.9	182.8	358.3	366.4
Recurring EBITDA	33.6	20.1	67.7	50.6
Recurring EBIT	19.6	3.8	41.0	18.2
of which associates *	2.6	1.8	6.3	4.2
Total EBIT	13.8	(21.2)	34.2	(11.3)
Recurring EBIT margin	9.6%	1.1%	9.7%	3.8%
R&D expenditure	10.2	7.9	17.9	16.4
Capital expenditure	33.8	41.8	67.6	57.4
Capital employed, end of period	457.4	476.3	457.4	476.3
Capital employed, average	447.0	479.9	430.2	475.2
Return on Capital Employed (ROCE)	8.8%	1.6%	9.5%	3.8%
Workforce, end of period	3,033	2,933	3,033	2,933
of which associates *	1,206	1,057	1,206	1,057

* Cobalt & Specialty Materials: Ganzhou Yi Hao Umicore Industries Co. Ltd., Todini and Co. ; Electro-Optic Materials: Yamanaka Eagle Picher (only in 2011); Rechargeable Battery Materials: Jiangmen Chancsun Umicore Industry Co. Ltd., beLife

Overview and outlook

Revenues for Energy Materials increased by some 2%. Strong growth in Rechargeable Battery Materials was largely offset by a decrease in the other business units. Recurring EBIT for the business group more than halved as a result of the economic downturn and adverse conditions in specific end markets. Electro-Optic Materials and Thin Film Products were particularly affected by low demand from the photovoltaic and display industries. Cobalt & Specialty Materials demonstrated more resilience, but did not replicate the exceptional contribution of 2011. Returns in Rechargeable Battery Materials improved, although depreciation charges and start-up costs continued to weigh on the performance.

No fundamental changes in market conditions are expected in 2013. The business group will benefit from the production footprint adjustments that were initiated in 2012.

Cobalt & Specialty Materials

Revenues for the business unit were down compared to last year. The higher recycling activity was in contrast to the slowdown in several product end markets.

The ceramics and chemicals activities posted lower revenues, as the economic slowdown impacted most end markets across regions in the second half of the year.

Sales volumes and revenues for tool materials were lower, mainly due to a lower demand from the automotive and construction sectors. Margins were negatively impacted by fierce competition.

Processed volumes in the recycling and refining activities remained at a record high level, although the lower prices for cobalt and nickel led to overall lower refining margins.

The upgrade of the fine cobalt powders production in Olen, Belgium, is ongoing and should be commissioned by mid 2014.

Electro-Optic Materials

Sales volumes and revenues for the business unit were down year on year and premiums were negatively impacted by product mix changes for the optics and substrates activities.

In the optics business the sales of germanium blanks were significantly lower. Government orders for infrared systems were even lower than in 2011, resulting in a further intensification of competitive pressure. Revenues for the finished optics activity were slightly higher year on year reflecting a growing demand for GASIR®-based infrared technologies as alternatives for pure germanium lenses. Sales of germanium tetrachloride used in optical fibres were up mainly as a result of the further deployment of optical fibre networks in China.

Revenues and sales volumes for germanium substrates were also down. Higher demand for LED applications was in contrast to decreased demand from the photovoltaics sector. Sales for space solar cells decreased due to reductions in the number of satellite launch programmes. The terrestrial solar market began to slow down early in 2012. The fast penetration of very cheap silicon based solar panels hampered significantly the introduction of newer photovoltaic technologies, which led to a near standstill in concentrator photovoltaic-related orders in the second half of the year.

In response to the challenging market conditions for terrestrial concentrator photovoltaics, Umicore has decided to reduce the germanium substrates production and workforce at its site in Quapaw, Oklahoma.

Rechargeable Battery Materials

Sales volumes and revenues were significantly up compared to the previous year.

The strong demand for high-end portable electronics, such as tablets and smart phones, further increased the demand for high energy density cathode materials. Umicore derived particular benefit from this trend due to its clear technology leadership in this area. The demand for materials used in lowerend portable devices remained subdued and prices were lower due to the highly competitive nature of this segment.

Although overall demand for automotive applications was higher year on year, ordering patterns remained volatile with lower volumes recorded in the second half of 2012. While the penetration of Li-Ion based (H)EVs in the market increases modestly today, the underlying medium to longer term trend of electrification of the car is promising. Umicore's materials are present in a high number of existing electrified platforms and the business is well positioned to qualify for upcoming platforms through its large portfolio of NMC-products (Nickel – Manganese - Cobalt).

The industrial demonstration plant of beLife, the joint venture between Umicore and Prayon for the production of LFP (lithium iron phosphate), started production successfully and samples have been submitted to customers for testing. The expansion projects for precursors in Korea and for cathode materials in Korea and China are on track.

Thin Film Products

Revenues for the business unit were down year on year. Demand for large area coating targets for the display sector remained low as manufacturers further delayed their investment projects for new rotary sputtering equipment. Revenues for optical evaporation materials were stable, while demand from the micro-electronics industry decreased slightly, reflecting volatility in a highly competitive market.

Due to unpromising market prospects, the production of AZO targets (Aluminium-doped Zinc Oxide) for the photovoltaic industry has been discontinued in Balzers, Liechtenstein.

PERFORMANCE MATERIALS

Performance Materials key figures (in million €)	H2 2011	H2 2012	2011	2012
Total turnover	753.1	730.0	1,618.4	1,508.4
Total revenues (excluding metal)	248.6	256.1	519.5	523.2
Recurring EBITDA	41.6	38.2	93.6	82.9
Recurring EBIT	28.3	23.7	67.0	54.5
of which associates *	6.8	4.6	13.4	9.9
Total EBIT	26.9	26.5	65.1	57.1
Recurring EBIT margin	8.7%	7.5%	10.3%	8.5%
R&D expenditure	11.6	12.2	22.4	24.0
Capital expenditure	23.3	18.6	31.6	29.3
Capital employed, end of period	572.0	573.0	572.0	573.0
Capital employed, average	593.7	587.6	603.9	587.3
Return on Capital Employed (ROCE)	9.5%	8.1%	11.1%	9.3%
Workforce, end of period	5,845	5,629	5,845	5,629
of which associates *	2,915	2,775	2,915	2,775

* Zinc Chemicals: Rezinal; Building Products: Ieqsa; Element Six Abrasives

Overview and outlook

Revenues of Performance Materials were in line with those of 2011. Lower revenues in Building Products, Technical Materials and Platinum Engineered Materials were offset by strong growth in Electroplating. Recurring EBIT was down 18% mainly due to the lower sales volumes in the above mentioned business units and a lower contribution from zinc recycling activities.

Although the business is expected to benefit from the fixed cost reductions, no major improvement is anticipated in underlying market conditions.

Building Products

Sales volumes for the business unit were down year on year due to the downturn in the construction industry. The impact on revenues was tempered by increased premiums, especially for higher-end products. The product mix also improved as a result of a less pronounced decrease in sales volumes for surface-treated products, which are sold at a higher premium.

Revenues were most affected in central and southern Europe as a result of the weaker economic environment there. The business unit's core markets of France, Benelux and Germany showed more resilience in the first half of the year but demand weakened in the second half. In the smaller overseas markets an increase in revenues was recorded, despite the postponement of a number of larger architectural projects.

The new production line for surface-treated products which is under construction in Viviez, France, is due to be operational in 2014.

Electroplating

Despite a weaker economic environment, especially in Europe, revenues increased year on year, mainly due to the successful introduction of a number of new products.

Lower demand for precious metal-based solutions used in technical applications, e.g. in the semiconductor industry, was more than offset by the strong customer take-up of Umicore's silver plating solutions used as the back-reflector in LEDs. Sales of precious metal products used in printed circuit boards remained at a low level, whereas non-preciousmetals-based electrolytes were in greater demand as a result of market growth and market share gains.

Sales of electrolytes for decorative applications were stable year on year. Although the market for metal coatings used in jewellery and lifestyle goods softened, the business unit benefited from the growing adoption of its recently introduced Rhoduna® alloy. This rhodium-light product is used as a substitute for pure rhodium coatings.

Platinum Engineered Materials

Revenues were lower as a result of reduced orders for glass applications.

Although the consumer consumption of all types of displays remains high, most high-purity glass manufacturers, who supply the display manufacturers, have postponed capacity investments. This reduced the demand for new platinum-based manufacturing equipment.

Revenues from platinum gauzes were level with those of 2011. The fertiliser industry uses these gauzes for the production of ammonia. The sales increase observed in the first half of the year was offset by a weakening of demand towards year end due to customer destocking.

Technical Materials

Revenues were down year on year, mainly as a result of lower sales of contact materials. Order levels were particularly low at the end of the year due to customer destocking.

The lower sales of contact materials was largely due to lower demand in Europe for low voltage products used in electrical equipment and small scale electrical infrastructure. Sales of products for medium voltage applications increased, primarily as a result of continued growth in electrical distribution systems in China. Sales of amalgam spheres, used in energysaving lamps, were stable.

Demand for brazing alloys was impacted by lower activity levels in Europe, especially in the truck and train construction markets. Revenues generated in the HVACR (Heat Ventilation Air-Conditioning & Refrigeration) industry decreased due to higher competition in non-European markets. Revenues linked to the tooling market were stable.

The business unit is working on expanding its smaller North American and Asian market presence through the introduction of more environmentally friendly product substitutes.

Zinc Chemicals

Revenues were largely in line with those of 2011, despite reduced demand in most markets. Prices remained under pressure and the contribution of the recycling activities was lower.

In the fine zinc powder activity, sales volumes for products used in anti-corrosive paints decreased in the European market, primarily due to low levels of industrial investments. Asian demand remained good and sales into South America made progress. Sales of products for the chemical industry were level with those of the previous year.

Demand in western markets for zinc oxide was lower and this had a negative impact on Umicore's sales. In Europe, the consumption for ceramic applications further declined as a result of the crisis in the Southern European construction sector, as did demand from the rubber industry. Sales in India, where Umicore is expanding its production capacity, made further progress as a result of higher demand from the tyre industry. The sales of products used in cosmetic applications continued to grow.

Sales volumes for zinc powders used in primary batteries decreased significantly as a consequence of a global drop in demand combined with battery production cuts in Europe. In the second half, sales volumes were down in Asia as well. Strong competition in the battery market put pressure on premiums.

Overall zinc recycling margins decreased. The availability of residues from the galvanizing industry declined in most regions thereby increasing pressure on commercial conditions.

Element Six Abrasives

Revenues of Element Six Abrasives were lower reflecting the weaker end markets in the Advanced Materials and the Oil & Gas businesses. Overall margins were negatively impacted by a less favourable product mix.

The Advanced Materials business was affected by a slowdown and customer destocking in the tooling and machining markets. Element Six successfully launched a number of new products and acquired Megadiamond's cutting tools business in 2012.

The Oil & Gas competitive environment remains challenging with some product substitution at the low end of the product range by Chinese producers. Improved drilling efficiency in the oil and gas sector is also reducing the replacement rate of tool components.

Despite a slowdown in the mining sector the Hard Materials business performed well. This was due to higher demand for road building tools and the successful launch of Element Six' D-Power™ diamond road picks, which prolong life and improve efficiency compared to carbide equivalents.

In order to realign its footprint to the market, Element Six Abrasives is adapting its carbide production in its South African operations. The construction of the new central R&D facilities in the UK was finalised at the end of 2012 and the facilities are due to be fully operational by mid 2013.

RECYCLING

Recycling key figures (in million €)	H2 2011	H2 2012	2011	2012
Total turnover	6,078.0	4,275.2	11,649.3	9,589.6
Total revenues (excluding metal)	327.0	339.2	636.8	681.3
Recurring EBITDA	157.1	161.6	310.7	306.2
Recurring EBIT	134.3	136.9	267.2	258.8
Total EBIT	136.5	137.5	274.3	251.8
Recurring EBIT margin	41.1%	40.3%	42.0%	38.0%
R&D expenditure	9.3	10.4	15.4	20.3
Capital expenditure	28.1	41.2	55.7	67.8
Capital employed, end of period	321.4	327.3	321.4	327.3
Capital employed, average	358.1	295.7	383.0	294.2
Return on Capital Employed (ROCE)	75.0%	92.6%	69.8%	88.0%
Workforce, end of period	2,329	2,394	2,329	2,394

Overview and outlook

Recycling revenues were up 7% compared to 2011. The increase is attributable to higher revenues in Precious Metals Refining, driven by better market conditions. Recurring EBIT decreased by 3% as a result of less buoyant conditions in the end markets for Jewellery & Industrial Metals and a lower contribution from the precious metal trading activities. Development efforts for the pilot UHT smelter were stepped up.

In the absence of a recovery in the prices of specialty metals and taking into account higher costs for future development projects, the contribution of Recycling should be lower in 2013 than in 2012. Also, it is planned to shutdown the smelter in Hoboken twice in 2013. Next to regular maintenance work, the shutdowns will be utilized to carry out a certain number of investments.

Precious Metals Refining

Revenues were up year on year. Overall processed volumes were slightly higher than in 2011. The overall supply environment for different types of complex residues and end-of-life materials remained strong.

High activity levels in the non-ferrous metal industry allowed the business to optimise its input of residues coming from these industries. Umicore processed more residues overall with an increase in arrivals from the precious metals refining industry.

Electronic scrap processing capacity increased significantly in the market, largely in anticipation of an expected increase of collection driven by a tightening legislation for WEEE recycling in Europe. It is, however, unclear at this stage whether this will result in an increase in the availability of all WEEE types. Despite the increasing competitive pressure, Umicore maintained its strong position as the specialist recycler for more complex and precious metal-rich materials. Supplies of electronic scrap were well up compared to 2011.

The supply of spent automotive catalysts on the market remained subdued, both in terms of volumes and commercial conditions. Processed volumes of spent industrial catalysts were up year on year.

Average received metal prices for precious and base metals remained largely stable as Umicore had locked in a significant portion of these in previous periods. A slight decrease in spot prices for most of these metals was thereby offset by higher secured prices. Prices of a number of specialty metals, like tellurium, selenium and indium were significantly down, mainly as a result of lower demand from hightech applications such as thin film photovoltaics. These price effects had a negative impact on margins.

The first phase of the upgrade and expansion of the sampling facility has been completed and the new infrastructure will become operational in the beginning of the year. A second phase of expansion has been initiated and is foreseen to be finalised by mid 2014. Investments to further improve the environmental performance of the plant, such as the new biological water treatment facility and new gas cleaning equipment, are progressing according to plan.

Precious Metals Management

Revenues decreased in 2012, primarily in the second half of the year. Demand for precious metal deliveries was lower as a result of reduced economic activity in Europe and customer destocking at year-end. The demand for investor bars also decreased. Volatility on the precious metal markets remained significantly lower than in 2011, resulting in a lower year-on-year contribution from the trading activity.

Battery Recycling

The UHT pilot plant has been running in campaigns, alternating technology development work and testing for both battery recycling and other potential feed material.

The bulk of currently processed volumes are portable electronic batteries. Intake of batteries from (hybrid) electric vehicles is still limited due to the low number of these vehicles on the road and their long lifetime. It has started to grow, however, as the first generation of NiMH-based HEVs is reaching its end of life. Umicore actively cooperates with the major OEMs to optimise the recycling of Li-ion batteries. In 2012 Umicore signed a contract with Toyota to recycle these in Europe.

In 2012 Umicore opened a dismantling centre in Maxton, North Carolina, for the North American market. The dismantling centre optimises the recycling process as only complex battery components are shipped to the UHT smelter in Hoboken, while the rest is recycled locally.

Jewellery & Industrial Metals

Revenues for the business unit were similar to the outstanding levels of 2011, with a growth in the first half offset by a decrease in the second half of the year. A shift in the product mix meant that margins were below the strong levels of 2011.

Order levels for coin blanks decreased especially in the second half of the year, as the high silver price led mints to limit the issue of silver-based coins. Overall sales of cast silver products increased as the business unit has increased the capacity to produce LBMA (London Bullion Market Association) accredited silver ingots, which resulted in a significant increase in shipments.

Sales for silver-based industrial applications were also at a lower level, mainly due to reduced order levels from the solar industry. Demand for chemical catalyst applications remained stable.

In the jewellery segment, an increase in sales of gold and pgm-based products to the luxury goods sector was offset by lower demand for silver-based fashion jewellery applications.

The recycling activities continued to perform strongly, especially for silver. During the year Umicore successfully finalised the first phase of the expansion of its silver refining capacity and capabilities in Bangkok, Thailand. It is currently also expanding the silver refining activities at the unit's headquarters in Pforzheim, Germany. Umicore has closed its facility in Foshan, China.

CORPORATE & GROUP ITEMS

Corporate key figures (in million €)	H2 2011	H2 2012	2011	2012
Recurring EBITDA	(19.5)	(20.8)	(38.5)	(40.0)
Recurring EBIT	(24.7)	(26.0)	(48.6)	(50.3)
of which associates *	(1.5)	(1.3)	(2.5)	(2.4)
Total EBIT	(23.6)	(23.6)	(37.7)	(52.8)
R&D expenditure	10.6	10.4	20.0	21.3
Capital expenditure	4.5	6.4	8.2	10.2
Capital employed, end of period	49.8	87.3	49.8	87.3
Capital employed, average	80.1	79.5	97.2	70.1
Workforce, end of period	1,183	1,201	1,183	1,201
of which associates *	48	49	48	49

* SolviCore; HyCore (only in 2011)

Corporate overview

Overall corporate costs were slightly up compared to 2011. This was mainly the result of increased expenditure in the Corporate R&D activities.

Research & development

Total R&D expenditure was € 181 million, an increase of 11% over 2011. This corresponds to 6.8% of revenues (excluding the associates' expenditures of € 17 million). Capitalised development costs accounted for € 18 million.

The bulk of the increase comes from the Catalysis and Recycling activities. R&D expenses went up in Automotive Catalysts as the business prepares for upcoming legislation changes and further expansion in HDD, and to a lesser extent as a result of the consolidation of Umicore's Japanese activities in the last quarter. In Recycling, R&D efforts were intensified as the UHT pilot line was operational for a full year. R&D spend also increased in Performance Materials, mainly due to the increased contribution from Element Six Abrasives. R&D spend in Energy Materials was slightly lower.

Over the last two years Umicore has been aligning the R&D definition used within the company with the internationally recognised Frascati Manual. The R&D expenditure figures for 2011 and the first half of 2012 have been restated accordingly.

Employees & safety

The total number of employees in fully consolidated companies increased by 133 people, excluding the consolidation effect from the Umicore Shokubai joint venture. An increase in headcount in those businesses with significant growth investments more than offset the reductions that were made in other areas. These reductions were related to footprint adjustments in response to the general economic downturn and specific challenges in certain markets such as photovoltaics. The headcount at associate companies also went down, as a result of production realignments. The total number of employees decreased from 14,572 at the end of 2011 to 14,438 at the end of 2012.

Following a period of stagnation, the total number of lost time accidents decreased from 60 in 2011 to 49 in 2012, representing an improvement of the

accident frequency rate from 3.61 to 2.86; the best performance ever. The overall accident severity rate, however, remained stable at 0.11. Several initiatives and programs were implemented in each business unit to foster a safety culture within Umicore contributing to the ultimate goal of zero lost time accidents. 83% of industrial sites were accident-free in 2012 and 24 industrial sites have achieved more than three years with no lost time accidents.

FINANCIAL REVIEW

Non-recurring items and IAS 39

Non recurring items had a negative impact of € 47 million on EBIT. These were related primarily to production footprint adjustments and the related reduction in headcount (€ 42 million). The majority of this amount relates to Energy Materials, in response to the weaker market, for photovoltaics in particular. The AZO target production in Thin Film Products was closed and germanium substrates production capacity was reduced. The total also includes the impact of the consolidation on one site of germanium optics production as previously announced. Footprint adjustments in other business groups included the closure of the jewellery recycling plant in Foshan, China, the production footprint reduction for Element Six Abrasives in South Africa and the headcount reduction for Automotive Catalysts in South Africa.

Umicore also booked additional environmental provisions for € 2 million, mainly related to the ongoing soil sanitation project in Viviez, France. Impairments on permanently tied-up inventories, resulting from lower metal prices, accounted for € 3 million. The impact of non-recurring charges on the net result (Group share) was € 40 million.

IAS 39 accounting rules had a positive effect of € 3 million on EBIT and a negative impact of € 2 million on the net result (Group share). These impacts concerns timing differences imposed by IFRS that relate primarily to transactional and structural metal and currency hedges. All IAS 39 impacts are non-cash in nature.

Financial results and taxation

Net recurring financial charges totalled € 23 million, a decrease of € 6 million compared to 2011. The difference is mainly explained by the average weighted interest rate for the period decreasing to 1.9%.

The recurring tax charge for the period amounted to € 67 million. The overall recurring effective tax rate for the period was 20.6%.

Cashflows

Net cashflow from operations was € 416 million, with net working capital requirements being largely stable over the period. Taxes paid in 2012 totalled € 94 million, including the cash payment of taxes accrued in previous periods.

Capital expenditures totalled € 253 million, an increase of 19% compared to 2011. Investments were up significantly in Catalysis, linked to the addition of light duty and HDD production capabilities in China and Europe and the construction of the technology development centres in China, Japan and Brazil. In Energy Materials, capital expenditures were lower than in 2011. The investment level remains high, however, especially with the continued production capacity expansions in Rechargeable Battery Materials. Investments were also somewhat lower in Performance Materials. In Recycling capital expenditure continues to run at a high level as a result of the expansion of the sampling facilities and new water and gas cleaning equipment in Hoboken, Belgium.

Net cashflow before financing was positive at € 150 million. Total net cashflow for the period stood at € 31 million.

Financial debt

At 31 December 2012 Umicore's net financial debt stood at € 222 million versus € 267 million one year earlier. With the equity of the Group standing at € 1,806 million this resulted in a gearing ratio (net debt / net debt + equity) of 11.0%. The average net debt to recurring EBITDA ratio was 0.5x.

The bond that Umicore issued in 2004 for a total amount of € 150 million matured on 18 February 2012, and was repaid out of existing syndicated loans.

Dividend and shares

The Board of Directors will propose a gross annual dividend of € 1.00 per share at the Annual General Meeting on 30 April 2013. Taking into account the interim dividend of € 0.50 per share paid out on 6 September 2012 and subject to shareholder approval, a gross amount of € 0.50 per share would be paid out on 8 May 2013.

On 31 December 2012 Umicore held 8,113,448 of its own shares in treasury, or 6.8% of the total issued shares. During the year 1,130,490 shares were used in the context of exercised stock options. At 6 February 2013 Umicore held 8,073,488 shares in treasury, representing 6.7% of the Group's outstanding shares.

The Board has decided that the company will continue to buy back its own shares in the course of 2013 within the limits of the existing authorization to hold up to 10% of shares in treasury.

Statutory auditor's note on the consolidated financial information of 2012

The statutory auditor, PwC Reviseurs d'Entreprises SCCRL, represented by Emmanuèle Attout and Marc Daelman, has confirmed that his audit work, which is substantially complete, has not to date revealed any significant matters requiring adjustments to the 2012 consolidated income statement, the consolidated statement of comprehensive income, the consolidated balance sheet, the consolidated statement of changes in the equity of the Group or consolidated cashflow statement included in this press release.

Sint-Stevens-Woluwe, 6 February 2013

PwC Bedrijfsrevisoren/Reviseurs d'Entreprises Represented by

Marc Daelman Emmanuèle Attout Réviseur d'entreprises / Bedrijfsrevisor Bedrijfsrevisor / Réviseur d'entreprises

Management responsibility statement

I hereby certify that, to the best of my knowledge, the Consolidated Financial Information of 2012 prepared in accordance with International Financial Reporting Standards, as adopted by the European Union, and with the legal requirements applicable in Belgium, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group and the undertakings included in the consolidation. The commentary on the overall performance of the Group from page 1 to 16 includes a fair review of the development and performance of the business and the position of the Group and its undertakings included in the consolidation.

Brussels, 6 February 2013

Marc Grynberg Chief Executive Officer

CONSOLIDATED FINANCIAL INFORMATION FOR THE YEAR ENDED ON 31 DECEMBER 2012

Consolidated income statement (in million €)	2011	2012
Turnover	14,480.9	12,548.0
Other operating income	56.9	62.7
Operating income	14,537.8	12,610.7
Raw materials and consumables	(12,902.6)	(10,996.2)
Payroll and related benefits	(672.0)	(717.0)
Depreciation and impairments	(165.3)	(181.7)
Other operating expenses	(402.9)	(410.4)
Operating expenses	(14,142.8)	(12,305.3)
Income (loss) from other financial assets	10.2	1.0
Result from operating activities	405.2	306.4
Financial income	5.1	3.3
Financial expenses	(35.0)	(23.9)
Foreign exchange gains and losses	7.4	(10.3)
Share in result of companies accounted for using the equity method	27.4	22.2
Profit (loss) before income tax	410.2	297.6
Income taxes	(76.0)	(59.7)
Profit (loss) of the period	334.2	237.9
of which minority share	9.3	4.5
of which Group share	325.0	233.4
(in € / share)
Total basic earnings per share	2.87	2.09
Total diluted earnings per share	2.85	2.08
Dividend per share	1.00	1.00

Consolidated statement of comprehensive income (in million €)	2011	2012
Profit (loss) of the period	334.2	237.9
Changes in available-for-sale financial assets reserves Changes in cash flow hedge reserves Changes in post employment benefits, arising from changes in actuarial assumptions Changes in deferred taxes directly recognized in other comprehensive income Changes in currency translation differences Other comprehensive income	(28.9) 62.7 (13.7) (17.8) (3.5) (1.2)	(10.8) 7.4 (57.3) 15.0 (14.0) (59.7)
Total comprehensive income for the period of which minority share of which Group share	333.0 3.2 329.8	178.2 1.9 176.3

The deferred tax impact on the other comprehensive income is related to the cash flow hedge reserves for € –2.7 million and to post employment benefit reserves for € 17.1 million.

Consolidated balance sheet (in million €)	31 / 12 2011	31 / 12 2012
Non-current assets	1,418.5	1,478.2
Intangible assets	183.3	200.9
Property, plant and equipment	864.3	912.3
Investments accounted for using the equity method	218.9	214.0
Available-for-sale financial assets	47.7	37.1
Loans granted	1.1	5.1
Trade and other receivables	14.6	17.0
Deferred tax assets	88.5	91.8
Current assets	2,294.6	2,189.7
Loans granted	1.1	5.0
Inventories	1,305.0	1,235.1
Trade and other receivables	867.5	788.4
Income tax receivables	17.1	29.9
Cash and cash equivalents	104.0	131.4
Total assets	3,713.2	3,667.9
Equity of the Group	1,721.7	1,805.8
Group shareholders' equity	1,667.5	1,751.7
Share capital and premiums	502.9	502.9
Retained earnings	1,461.0	1,577.7
Currency translation differences and other reserves	(43.6)	(102.0)
Treasury shares	(252.8)	(226.8)
Minority interest	54.2	54.1
Non-current liabilities	391.5	422.4
Provisions for employee benefits	193.0	259.0
Financial debt	23.9	2.9
Trade and other payables	15.1	13.9
Deferred tax liabilities	46.1	36.4
Provisions	113.4	110.3
Current liabilities	1,599.9	1,439.6
Financial debt	346.7	351.0
Trade and other payables	1,148.4	1,022.4
Income tax payable	57.7	35.5
Provisions	47.1	30.7
Total equity & liabilities	3,713.2	3,667.9

l d d f h i C t t t t o n s o a e s a e m e n o c a n g e s h f h i i t t t G n e e q u y o e r o u p ( l l ) in i ion € m	ha S re l i ta & ca p iu p re m m s	Re se rv es	Cu rre nc y la io tra t ns n he & t o r re se rv es	Tr ea su ry ha s re s	in i M ty or in te t re s	l To ta i ty eq u
lan he be f in in Ba t t 2 0 1 1 ce a g n g o	5 0 2. 9	1, 2 3 4. 2	( ) 5 5. 5	( ) 1 6 4. 6	5 8. 3	1, 5 7 5. 2
l f he d io Re t o t su p er he he fo he d O ive inc io t t ns r c om p re om e r p er l c he fo he d ive inc io To ta t om p re ns om e r p er	- - -	3 2 5. 0 - 3 2 5. 0	- 8 4. 4. 8	- - -	9. 3 ( ) 0 6. 3. 2	3 3 4. 2 ( ) 2 1. 3 3 3. 0
ha ha ba d in C t r ng es s re- se p ay me n es erv es l Ca i inc ta p rea se de ds iv i D n fe Tra ns rs ha ha in C tre ng es as ury s res	- - - - -	- - ( ) 9 9. 4 1. 2 -	8. 3 - - ( ) 1. 2 -	- - - - ( ) 8 8. 2	- ( ) 6. 4 ( ) 0. 9 - -	8. 3 ( ) 6. 4 ( ) 1 0 0. 3 - ( ) 8 8. 2
f lan he d Ba t t 2 0 1 1 ce a e n o	0 2. 9 5	6 0 1, 4 1.	( ) 3. 6 4	( ) 2 2. 8 5	2 5 4.	2 1, 7 1. 7
l f he d io Re t o t su p er he he fo he d ive inc io O t t r c om p re ns om e r p er l c he ive inc fo he io d To ta t om p re ns om e r p er	- - -	2 3 3. 4 2 3 3. 4	( ) 5 7. 2 ( ) 2 5 7.	- - -	4. 5 ( ) 2. 5 9 1.	2 3 7. 9 ( ) 5 9. 7 8. 2 1 7
ha ha ba d in C t r ng es s re- se p ay me n es erv es l i inc Ca ta p rea se de ds D iv i n fe Tra ns rs ha ha in C tre ng es as ury s res ha in C ng es sco p e	- - - - - -	- - ( ) 2 2. 9 1 6. 5 - ( ) 0. 4	5. 3 - - ( ) 6. 5 - -	- - - - 2 5. 9 -	- 6. 3 ( ) 6. 9 - - ( ) 1. 4	5. 3 6. 3 ( ) 2 9. 8 1 - 2 5. 9 ( ) 1. 8
lan he d f Ba t t 2 0 1 2 ce a e n o	5 0 2. 9	1, 5 7 7. 7	( ) 1 0 2. 0	( ) 2 2 6. 8	5 4. 1	1, 8 0 5. 8

Consolidated cashflow statement

(in million €)	2011	2012
Profit from continuing operations	334.2	237.9
Adjustments for profit of equity companies	(27.4)	(22.2)
Adjustment for non-cash transactions	189.9	166.2
Adjustments for items to disclose separately
or under investing and financing cashflows	82.2	64.9
Change in working capital requirement	(48.6)	34.1
Cashflow generated from operations	530.3	480.9
Dividend received	15.9	27.0
Tax paid during the period	(34.4)	(93.8)
Government grants received	3.6	1.4
Net cashflow generated by (used in) operating activities	515.5	415.5
Acquisition of property, plant and equipment	(188.0)	(227.8)
Acquisition of intangible assets	(24.6)	(25.7)
Acquisition of new subsidiaries, net of cash acquired	-	(11.2)
Acquisition of / capital increase in associates	(5.5)	(0.1)
Acquisition in additional shareholdings in subsidiaries	-	(1.2)
Acquisition of financial assets	(0.5)	(0.1)
New loans extended	(1.0)	(7.5)
Sub-total acquisitions	(219.6)	(273.5)
Disposal of property, plant and equipment	2.1	2.9
Disposal of subsidiaries and associates, net of cash disposed	0.3	2.1
Capital decrease in associates	-	2.4
Disposal of financial fixed assets	10.1	0.5
Repayment of loans	0.2	0.4
Sub-total disposals	12.7	8.3
Net cashflow generated by (used in) investing activities	(206.9)	(265.2)
Capital increase (decrease) minority	(6.1)	5.5
Own shares	(88.2)	25.9
Interest received	4.8	2.9
Interest paid	(20.3)	(16.0)
New loans and repayments	(91.5)	(16.8)
Dividends paid to Umicore shareholders	(98.3)	(122.5)
Dividends paid to minority shareholders	(0.9)	(6.9)
Net cashflow generated by (used in) financing activities	(300.6)	(127.8)
Effect of exchange rate fluctuations	(6.2)	8.3
Total net cashflow of the period	1.8	30.8
Net cash and cash equivalents at the beginning of the period	98.4	100.2
Net cash and cash equivalents at the end of the period	100.2	131.0
of which cash and cash equivalents	104.0	131.4
of which bank overdrafts	(3.8)	(0.4)

d d f i i C t t 2 0 1 1 o n e n s e s e g m e n n o r m a o n ( l l ) in i ion € m	ly is Ca ta s	En er g y ls ia Ma te r	fo Pe r r m an ce ls ia Ma te r	l in Re cy c g	Co te & rp or a l lo d Un te a ca	l im in io E t a ns	l To ta
l s To ta t tu eg me n rno ve r	1, 9 3 2. 0	7 2 9. 3	1, 6 1 8. 4	1 1, 6 4 9. 3	2 5. 9	( ) 1, 4 7 3. 9	1 4, 4 8 0. 9
f w h h e l ic te tu o x rna rno ve r	1, 8 9 6. 1	7 2 2. 7	1, 4 9 7. 4	1 0, 3 3 8. 9	2 5. 9	-	1 4, 4 8 0. 9
f w h h ic in te t tu o r-s eg me n rno ve r	3 5. 8	6. 5	1 2 1. 1	1, 3 1 0. 5	-	( ) 1, 4 7 3. 9	-
* l s To ta t r eg me n ev en ue s	8 2 1 4.	3 8. 3 5	5 1 9. 5	3 8 6 6.	-	( ) 0. 2 1	2, 3 8. 1 6
f w h h e l re * ic te o rna ve nu es x	8 3. 1 4	3 8. 3 5	9. 5 1 5	6 2 7. 4	-	-	2, 3 8. 6 1
f w h h * ic in te t r o r-s eg me n ev en ue s	0. 8			9. 4		( ) 1 0. 2	-
ing Re E B I T cu rr	8 9. 5	4 1. 0	6 7. 0	2 6 7. 2	( ) 4 8. 6	-	4 1 6. 1
f w fro h ic h ing l t t o m op era re su	8 3. 7	3 4. 7	3. 6 5	2 6 2 7.	( ) 6. 4 1	-	3 9 3. 1
f w h h fro ho d c ic i ies ty t o m eq u me om p an	5. 7	6. 3	1 3. 4	-	( ) 2. 5	-	2 2. 9
ing No E B I T n-r ec urr	( ) 1. 3	( ) 6. 4	( ) 3. 5	1. 3	1 0. 9	-	1. 0
f w h h fro l ic ing t t o m op era re su	( ) 1. 2	( ) 6. 4	( ) 1 0. 6	1. 3	1 0. 9	-	( ) 6. 0
f w h h fro ho d c ic i ies ty t o m eq me om p an u	-	-	7. 1	-	-	-	0 7.
f fec I A S 3 9 e t o E B I T n	8. 6	( ) 0. 5	1. 7	5. 8	-	-	1 5. 6
f w h h fro l ic ing t t o m op era re su	7. 4	( ) 0. 5	5. 4	5. 8	-	-	1 8. 1
f w h h fro ho d c ic i ies ty t o m eq u me om p an	1. 2	-	( ) 3. 7	-	-	-	( ) 2. 5
l To ta E B I T	9 6. 8	3 4. 2	6 5. 1	2 7 4. 3	( ) 3 7. 7	-	4 3 2. 7
f w h h fro l ic ing t t o m op era re su	8 9. 9	2 7. 8	4 8. 4	2 7 4. 3	( ) 3 5. 2	-	4 0 5. 2
f w h h fro ho d c ic i ies ty t o m eq u me om p an	6. 9	6. 3	1 6. 8	-	( ) 2. 5	-	2 7. 4
l e d i i Ca ta tu p xp en re	4 9. 5	6 7. 6	3 1. 6	5 5. 7	8. 2	-	2 1 2. 6
ia ion iza ion De t & t t p rec am or	3 0. 0	2 6. 6	2 6. 8	4 3. 5	1 0. 1	-	1 3 7. 1

* Revenues excluding metal

d d f i i C t t 2 0 1 2 o n e n s e s e g m e n n o r m a o n ( l l ) in i ion € m	ly is Ca ta s	En er g y ls ia Ma te r	fo Pe r r m an ce ls ia Ma te r	l in Re cy c g	Co & te rp or a l lo d Un te a ca	l im in io E t a ns	l To ta
l s To ta t tu eg me n rno ve r	1, 8 7 1. 9	7 6 3. 7	1, 5 0 8. 4	9, 5 8 9. 6	2 8. 8	( ) 1, 2 1 4. 4	1 2, 5 4 8. 0
f w h h e l ic te tu o rna rno ve r x	8 1, 4 5. 1	2 7 5 7.	3 8. 8 1, 4	8, 6 8. 2 5	2 8. 8	-	2, 8. 0 1 5 4
f w h h ic in te t tu o r-s eg me n rno ve r	2 6. 8	6. 5	1 5 9. 6	1, 0 2 1. 4	-	( ) 1, 2 1 4. 4	-
l s * To ta t r eg me n ev en ue s	8 6 6. 1	3 6 6. 4	5 2 3. 2	6 8 1. 3	-	( ) 9. 5	2, 4 2 7. 6
* f w h h e l re ic te o x rna ve nu es	8 6 5. 3	3 6 6. 4	5 2 3. 2	6 7 2. 6	-	-	2, 4 2 7. 6
* f w h h ic in te t r o r-s eg me n ev en ue s	0. 8			8. 7		( ) 9. 5	-
ing Re E B I T cu rr	9 1. 0	1 8. 2	5 4. 5	2 5 8. 8	( ) 5 0. 3	-	3 7 2. 1
f w h h fro l ic ing t t o m op era re su	8 0. 4	1 4. 0	4 4. 6	2 5 8. 8	( ) 4 7. 9	-	3 4 9. 9
f w h h fro ho d c ic i ies ty t o m eq u me om p an	0. 1 5	2 4.	9. 9	-	( ) 2. 4	-	2 2. 2
ing No E B I T n-r ec urr	( ) 5. 7	( ) 3 0. 0	( ) 0. 6	( ) 7. 9	( ) 2. 5	-	( ) 4 6. 7
f w h h fro l ic ing t t o m op era re su	( ) 5. 7	( ) 3 0. 0	1. 2	( ) 7. 9	( ) 2. 5	-	( ) 4 4. 8
f w h h fro ho d c ic i ies ty t o m eq u me om p an	-	-	( ) 1. 8	-	-	-	( ) 1. 8
f fec S 3 9 e t o B I A E I T n	( ) 1. 4	0. 5	3. 2	0. 9	-	-	3. 2
f w h h fro l ic ing t t o m op era re su	( ) 0. 7	0. 5	0. 7	0. 9	-	-	1. 3
f w h h fro ho d c ic i ies ty t o m eq u me om p an	( ) 0. 7	-	2. 5	-	-	-	1. 8
l To ta E B I T	8 3. 8	( ) 1 1. 3	5 7. 1	2 5 1. 8	( ) 5 2. 8	-	3 2 8. 6
f w fro h ic h ing l t t o m op era re su	0 7 4.	( ) 1 5. 5	6. 4 5	2 8 5 1.	( ) 0. 5 4	-	3 0 6. 4
f w h h fro ho d c ic i ies ty t o m eq u me om p an	9. 9	4. 2	1 0. 6	-	( ) 2. 4	-	2 2. 2
l e d i i Ca ta tu p xp en re	8 8. 8	5 7. 4	2 9. 3	6 7. 8	1 0. 2	-	2 5 3. 5
De ia ion & iza ion t t t p rec am or	3 3. 4	3 2. 4	2 8. 4	4 7. 4	0. 3 1	-	2. 0 1 5

* Revenues excluding metal

Impact of IAS 39 & non-recurring elements (in million €)	Continuing total	of which: Recurring	Non- recurring	IAS 39 effect
2011
Profit from operations of which income from other financial investments Result of companies accounted for	405.2 10.2	393.1 0.9	(6.0) 9.3	18.1 -
using the equity method	27.4	22.9	7.0	(2.5)
EBIT	432.7	416.1	1.0	15.6
Finance cost	(22.4)	(29.8)	-	7.4
Tax	(76.0)	(72.4)	4.0	(7.6)
Net result	334.2	313.8	5.0	15.4
of which minority share	9.3	9.3	(0.1)	0.1
of which Group share	325.0	304.6	5.1	15.3
2012
Profit from operations of which income from other financial investments Result of companies accounted for	306.4 1.0	349.9 1.0	(44.8) -	1.3 -
using the equity method	22.2	22.2	(1.8)	1.8
EBIT	328.6	372.1	(46.7)	3.2
Finance cost	(31.0)	(23.4)	-	(7.6)
Tax	(59.7)	(67.3)	5.4	2.2
Net result	237.9	281.4	(41.2)	(2.2)
of which minority share	4.5	6.1	(1.7)	-
of which Group share	233.4	275.2	(39.5)	(2.3)

Forward looking statements

This document contains forward-looking information that involves risks and uncertainties, including statements about Umicore's plans, objectives, expectations and intentions. Readers are cautioned that forward-looking statements include known and unknown risks and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Umicore. Should one or more of these risks, uncertainties or contingencies materialize, or should any underlying assumptions prove incorrect, actual results could vary materially from those anticipated, expected, estimated or projected. As a result, neither Umicore nor any other person assumes any responsibility for the accuracy of these forward-looking statements.

Glossary

For a glossary of used financial and technical terms please refer to: http://www.umicore.com/investorrelations/en/financials/glossary.htm

For more information

Investor Relations
Geoffroy Raskin	+32 2 227 71 47	geoffroy.raskin@umicore.com
Evelien Goovaerts	+32 2 227 78 38	evelien.goovaerts@umicore.com
Media Relations
Elcke Vercruysse	+32 2 227 71 29	elcke.vercruysse@umicore.com

Financial calendar

30 April 2013	2013 first quarter trading update
30 April 2013	Annual General Meeting
3 May 2013	Ex-dividend trading date
7 May 2013	Record date for dividend
8 May 2013	Payment date for dividend
30 July 2013	2013 first half results publication
23 October 2013	2013 third quarter trading update

Umicore profile

Umicore is a global materials technology and recycling group. It focuses on application areas where its expertise in materials science, chemistry and metallurgy makes a real difference. Its activities are centred on four business areas: Catalysis, Energy Materials, Performance Materials and Recycling. Each business area is divided into marketfocused business units offering materials and solutions that are at the cutting edge of new technological developments and essential to everyday life.

Umicore generates the majority of its revenues and dedicates most of its R&D efforts to clean technologies, such as emission control catalysts, materials for rechargeable batteries and photovoltaics, fuel cells, and recycling. Umicore's overriding goal of sustainable value creation is based on an ambition to develop, produce and recycle materials in a way that fulfils its mission: materials for a better life.

The Umicore Group has industrial operations on all continents and serves a global customer base; it generated a turnover of € 12.5 billion (€ 2.4 billion excluding metal) in 2012 and currently employs some 14,400 people.

A conference call and audio webcast will take place today at 14:00 CET in Brussels. Please visit:http://www.umicore.com/investorrelations/en/financialCalendar/confCall20130207.htm