Report of the Directors
Business Review

Johnson Matthey at a Glance

Environmental Technologies Division’s products and services are used globally in applications which benefit the environment. It supplies catalysts and technologies which contribute to pollution control, cleaner fuels, greener power and the more efficient use of hydrocarbon resources. Its emission control catalysts are fitted to about one in three cars sold around the world. It comprises of:

Key Statistics  
Return on sales excluding
precious metals
11.9%
Return on invested capital (ROIC) 14.5%
Capital expenditure £117.4m
Capex / depreciation 1.5
R&D expenditure £99.1m
Average invested capital £1,562m
Employees 6,445

Precious Metal Products Division adds value to precious metals. Its wide ranging activities include the marketing, distribution and fabrication of precious metals and the manufacture of catalysts and precious metal chemicals. It is also a world leading refiner of precious metals, ensuring these valuable materials are efficiently recovered and reused. It comprises of:

Key Statistics  
Return on sales excluding
precious metals
26.8%
Return on invested capital (ROIC) 39.2%
Capital expenditure £40.7m
Capex / depreciation 1.7
R&D expenditure £21.9m
Average invested capital £375m
Employees 2,948

Fine Chemicals Division supplies active pharmaceutical ingredients, fine chemicals and other speciality chemicals to a wide range of pharmaceutical and chemical industry customers and research institutes globally. Its products help relieve pain, treat cancer and other medical conditions, improving the quality of life for many people around the world. It comprises of:

Key Statistics  
Return on sales excluding
precious metals
25.6%
Return on invested capital (ROIC) 16.9%
Capital expenditure £20.4m
Capex / depreciation 1.1
R&D expenditure £8.6m
Average invested capital £421m
Employees 1,107
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