Umicore Rechargeable Battery Materials. June, 2014

Transcription

1 Umicore Rechargeable Battery Materials June, 2014

2 Agenda Introduction to Umicore Umicore Rechargeable Battery Materials Li-Ion Battery market trends

3 Introduction to Umicore We are a global materials technology & recycling company Our mission is to make materials for a better life The majority of our growth comes from clean technologies: technologies that are specifically designed to optimize the use of natural resources and to reduce environmental impact We are listed on NYSE / Euronext Brussels with a market capitalization of some 4 billion 3

4 Umicore, global leader in Automotive catalysts for passenger cars Key materials for rechargeable batteries used in portable electronics and hybrid & electric cars Germanium substrates and other materials which are used in new photovoltaic technologies Recycling precious metals from old mobile phones, laptops, electronic scrap and spent catalyst material 4

5 Umicore s business approach We transform metals into hitech materials We use application know-how to create tailor-made solutions in close collaboration with our customers We close the loop and secure supply by recycling production scrap and end-of-life materials Metals Application know-how Chemistry material Material science solutions Metallurgy Material solutions We aim to minimize our environmental impact and be the best employer and neighbour Recycling 5

6 Key megatrends for Umicore Resource scarcity More stringent emission control Renewable energy 6 Electrification of the automobile

7 Umicore in figures 2013 Turnover Revenues REBIT REBITDA 9.8 bn 2.4 bn 304 m 463 m ROCE 13.6% EPS Dividend 1.96 / share 1.00 / share 7

8 Umicore Group structure 8

9 Agenda Introduction to Umicore Umicore Rechargeable Battery Materials Li-Ion Battery market trends

10 Umicore Rechargeable Battery Materials Fact Sheet 2014 Market Share 1 out of 5 batteries ever made contains Umicore material 15+ xev platforms on the market in the next years Track Record >60.000mT cathode material produced (accumulated) >15 years in the market Production 5 production sites (KR, JP, CN, BE) TS16949, ISO9001, ISO14001 Portfolio Cathode: LCO, NMC, NCA, LFP All Power/Energy ratios covered R&D 3 R&D sites, 2 application labs 50% products sold are less than 3 years on the market 10

11 Umicore Global Li-ion Battery Setup Close to the (end-)customer Worldwide activities in rechargeable battery materials Research & Development Precursor and Product R&D (KR, JP, BE) Group R&D (BE) Customer Teams Dedicated teams Sales & Marketing Applied Technology in EU, US, KR, JP, CN, TW Applied Technology Battery Lab (KR, JP) Production Precursor and Product in KR, CN, JP, BE 11

12 Umicore s unique experience RBM has produced enough cathode materials to: Provide a smartphone to every person on this planet Power more than 1Million EV s 12

13 Umicore s position in the LIB Value Chain Stable supply is key for our customers Strong application focused cathode material producer fully integrated for strategic raw material supply, including recycling 13

14 Agenda Introduction to Umicore Umicore Rechargeable Battery Materials Li-Ion Battery market trends

15 Li-Ion Battery market trends (1) LIB-production quite volatile over the year Portable electronics : device launches create erratic demand pattern Automotive : strong fluctuations but gradually growing Cylindrical cell business seems under stress except for the Tesla-business Polymer >> Prismatic > Cylindrical Structural overcapacity creates unhealthy price erosion at cell makers Gap between high-tech segment and mainstream/low end increasing High-tech segment : thin and flex form factor, high capacity, high power Top cell performance = combination of high-tech material solutions Low end is threatened by high technology solutions (4 x 3.2Ah iso 6 x 2.2Ah) 16

16 Li-Ion Battery market trends (2) New and growing LIB-applications are numerous : Mobile dataloggers, gardening tools, DIY-tools, boost power, medical equipment, autonomous workstations, data transmission, 12V- and 48V-car systems, grid frequency regulation, back-up power, peakshaving, e-bikes, Personal mobile connectivity (smart phones, phablets, tablets, ) Declining applications exist as well : PC shipments decline significantly and so does demand Low feature phone shipments decline Automotive : diversification! From Start-Stop to full Electric Vehicle From 18650, over large CYL and POL all the way to +30Ah Prismatic From LFP, over LMO/NCA all the way to NMC 17 16

17 Specific priorities for different market segments Electronics Power Tools Automotive ESS Design cycle < 1yr < 1yr 2-4yr 1-2yr P/E Low High Low to High High Cost Medium-High High Medium Low-Medium Cathode LCO-NMC NMC-LMO NMC-LMO LFP-NMC Electronics : Wh/L, safety and low swelling Power Tools : W/kg, safety, fast charging Automotive : Wh/L + US$/kWh OR -20 C + US$ ESS : TCO per cycle, over 15yr horizon 18 17

18 Portable electronics More in less Electrochemical performance (Wh/g) NMC-family LCO Physical density (g/cc) Strictly Confidential 19

19 Automotive Gen.2 towards lower $/kwh Through higher performance or lower cost Two parallel paths depending on company knowhow and strategy Higher Ni content Pushes energy density Increase kwh/kg Maintaining cost/kg Decreases cost/kwh Cellcore MX NMC (1:1:1) LiNiO 2 Lower Co content Reduces metal cost Decrease cost/kg Maintaining kwh/kg Decreases cost/kwh LiCoO 2 LiMnO 2 Cost/kWh NMC (1:1:1) 100% Low Co 75% - 80% High Ni 75% - 80% 20

20 Understanding ESS specific requirements Charge-Discharge frequency 4*15 minutes of cycling * 250 days per year = cycles per year Frequency regulation, Windmills 15 min 1 hour storage ~20 times per year Power quality, Primary reserve 15 min 1 hour storage 1 cycle per day * 250 days/year = 250 cycles per year Load Leveling, PV, Arbitrage 4-8 hours storage ~20 times per year Capacity Credit, Energy Back-up 4-8 hours storage (Minutes) Storage duration (Hours) 20

21 Umicore Rechargeable Battery Materials Summary Umicore Rechargeable Battery Materials serves a fast growing market with a broad product portfolio Different market segments call for different product solutions and market segments are in a different stage of market development Portable Electronics will remain the biggest LIB-application in next years Use Li-ion in Automotive application is steadily growing and is expected to occupy a significant portion of the total material market towards the end of the decade ESS application is the newest market segment but has also the potential to grow significantly as a result of increased renewable power generation and decentralized power generation 16

22 Thank you!