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About this on-line report

Umicore’s Annual Report 2013 offers a comprehensive and integrated view of Umicore’s economic, financial, environmental and social performance for 2013.

The report consists of two sections – Management Review and a statements section. The Management Review focuses on the key performance aspects of 2013 as they relate to Umicore’s Vision 2015 strategy. The statements section includes full financial, environmental, social & governance statements and notes.

An integrated approach

One of the key objectives of Umicore’s Annual Report has been to reflect Umicore’s strategic approach – Vision 2015. This strategy integrates clear economic, environmental and social objectives. From 2011 Umicore has therefore adapted its reporting approach to achieve even greater integration of its economic, environmental and social performance. This approach to reporting is the result of a period of consultation with internal and external stakeholders between 2009 and 2011 and is inspired by the concept of “integrated reporting” as being developed by the International Integrated Reporting Council.

Reporting scope

In terms of overall scope, Umicore’s Annual Report 2013 covers Umicore’s operations for the financial / calendar year 2013. No major changes of scope took place in 2013. This report represents the third year in which Umicore reports on its progress towards its 2015 objectives. It also represents the second time that certain key performance indicators have been used – reflecting the move towards more integrated reporting. The scope of all objectives and a brief description of the methodology behind all performance indicators are included in the statements section of the report. Where data is available, the performance indicators in the document are reported with a comparison base going back five years to 2009.

The economic scope of the report covers all fully consolidated operations. In addition, the financial contributions of all associate and joint venture companies are included in the financial reporting. The scope of the environmental and social elements of the report is limited to the fully consolidated entities – any divergence from this scope is explained in the relevant chapter or note in the report.

Data

The data for the economic and financial elements of the report are collected through the company’s financial management and consolidation process. The environmental and social data is collected through environmental and social data management systems and integrated into a central reporting tool, along with the economic and financial data.

Assurance

This report has been independently verified by PwC add link Bedrijfsrevisoren/Réviseurs d'Entreprises (PwC). PwC’s audit of financial information is based on full set of IFRS consolidated financial statements on which it has expressed an unqualified opinion. The auditor's report on the full set of IFRS consolidated financial statements can be found here. The social and environmental information included in this report has been prepared on the basis of the same recognition and measurement principles that have been used to prepare the environmental and social statements. The independent auditor’s report of PwC on the social and environmental statements can be found here.

The report has achieved the B+ level of application of the Global Reporting Initiative (GRI). A full GRI index can be found here. The Global Reporting Initiative (GRI) is a network-based organisation that pioneered the world’s most widely used sustainability reporting framework which sets out the principles and performance indicators that organisations can use to measure and report their economic, environmental, and social performance.

Presentation & feedback

Umicore seeks to improve its reporting through a continuous process of stakeholder engagement and dialogue. The key social elements of the report are presented to the international trade unions during the joint monitoring committee in March, while the entire document is presented to shareholders at the Annual General Meeting in late April. Umicore also commits to consider all improvement points recommended by the independent auditor (PwC) in its subsequent reporting cycles. General reader feedback is encouraged through both the print and on-line versions of the report.

Other information

Other additional information includes a summary of Umicore’s approach to economic, environmental and social management. These elements have been provided on Umicore’s website (www.umicore.com/sustainability) and should be considered as part of this report.