Slide 1: Quarterly Report First 9 Months 2024/25
Quarterly Report First 9 Months 2024/25 Conference Call on August 5, 2025
Slide 2: Disclaimer
Disclaimer Forward-looking statements Today’s capital market presentation contains forward-looking statements that involve risks and uncertainties, including statements about Aurubis’ plans, objectives, expectations and intentions. Readers are cautioned that forward-looking statements include known
Slide 3: Executive summary of first 9 months 2024/25
Executive summary of first 9 months 2024/25 Aurubis achieved a robust operating result in a challenging environment. Operating EBT Operating EBITDA Operating EBT lower compared to the previous year, but operating EBITDA 9M 2024/25 of 9M 2024/25 of almost at the prior-year level. €286 million €462 mi
Slide 4: US tariffs on copper imports aim at strengthening domestic copper industry
US tariffs on copper imports aim at strengthening domestic copper industry Recent developments − 50 % tariff on imports of semi-finished copper products and copper-intensive derivative items set to take effect on August 1, 2025 − Copper input materials (such as copper ores, concentrates, mattes, cat
Slide 5: Further decoupling of prices for input material and resulting output
Further decoupling of prices for input material and resulting output 100 % = Sept. 2022 250% − European copper premium with rapid increase 200% in Q3 due to strong copper cathode demand 150% − Sulfuric acid prices continue to accelerate given continued diminished supply and high 100% demand from fer
Slide 6: Metal prices remain favorable in Q3 2024/25
Metal prices remain favorable in Q3 2024/25 100 % = Sept. 2022 200% − Gold price up by 14.7 % in Q3 vs. Q2 with new all-time high 150% − Silver price up by 5.5 % in Q3 vs. Q2 − Copper price in Q3 stable at a high level due to strong copper cathode demand 100% − Euro exchange rate rose by 9.1 % vs. U
Slide 7: Aurubis achieves a robust result after 9 months of FY 2024/25
Aurubis achieves a robust result after 9 months of FY 2024/25 9M 9M Change vs. (operating results) 2024/25 2023/24 prior year Revenues €m 13,781 12,939 7% Gross profit €m 1,232 1,282 -4 % EBITDA €m 462 475 -3 % EBIT €m 293 328 -11 % EBT €m 286 333 -14 % Consolidated net income €m 215 267 -19 % €m Ne
Slide 8: Gross margin slightly below prior-year level
Gross margin slightly below prior-year level — increased metal result compensates for lower TC/RCs Breakdown of income components in the Aurubis Group 9M 2024/25 YTD (YTD prior-year figures) 27 % (31 %) Treatment charges for concentrates + 37 % (33 %) recycling input Metal result ~ €1,576 million* (
Slide 9: Custom Smelting & Products segment with higher profits and ROCE
Custom Smelting & Products segment with higher profits and ROCE Breakdown of income components in CSP segment 9M 2024/25 YTD (YTD prior-year figures) 9M 9M Operating results 2024/25 2023/24 19 % (25 %) EBITDA €m 436 417 Treatment charges 32 % (26 %) EBT €m 342 317 for concentrates + Metal result rec
Slide 10: Multimetal Recycling segment with stable gross margin and balanced earnings portfolio
Multimetal Recycling segment with stable gross margin and balanced earnings portfolio Breakdown of income components in MMR segment 9M 2024/25 YTD (YTD prior-year figures) 9M 9M Operating results 2024/25 2023/24 EBITDA €m 97 149 44 % (45 %) EBT €m 36 109 Refining charges 46 % (47 %) for recycling in
Slide 11: Overview of Group costs
Overview of Group costs — stable cost situation despite higher depreciation and ramp-up costs Overview of cost/expense positions 9M 2024/25 YTD (YTD prior-year figures1) 12 % (10 %) Depreciation and amortization 33 % (33 %) Personnel costs 13 % (11 %) Consumables ~ €1,414 million* 11 % (12 %) (~ €1,
Slide 12: Specific measures set up for reducing inventory to optimize net working capital
Specific measures set up for reducing inventory to optimize net working capital − Mid triple-digit-million NWC improvement targeted − Current focus is on intermediates: Reduction of intermediate stock levels Improved material consumption within integrated smelter network Additional optimizatio
Slide 13: Enhanced net cash generation impacted by investment outflow
Enhanced net cash generation impacted by investment outflow related to execution of strategic projects as expected in € million (previous year) per 9M 2024/25 − Operating EBITDA of €462 million 462 50 reflects robust financial performance 357 (475) -82 -74 − Delta net working capital includes (52) €
Slide 14: Aurubis with very solid balance sheet and cash generation
Aurubis with very solid balance sheet and cash generation in a period of high strategic capex 9M 9M 2024/25 2023/24 Target Equity ratio % 56.1 55.9 > 40.0 (equity/total assets) Debt coverage2 0.6 0.5 < 3.0 9M 9M Additional KPIs 2024/25 2023/24 Capital expenditure €m 565 556 Capital employed €m 4,152
Slide 15: Approx. 70% of strategic capex program implemented by Q3 2024/25
Approx. 70 % of strategic capex program implemented by Q3 2024/25 Timeline of when strategic projects start operations FY 2023/24 FY 2024/25 FY 2025/26 FY 2026/27 − Industrial Heat II − Bleed Treatment Olen − Complex Recycling − Slag Processing (DE Hamburg) Beerse (BOB) (BE Olen) Hamburg (CRH) (DE (
Slide 16: Pirdop shutdown: Largest modernization in 30 years successfully completed
Pirdop shutdown: Largest modernization in 30 years successfully completed at the site − Timeframe: May–July 2025 − Capex: approx. €115 million delivered on schedule and within budget − 120 individual measures completed, securing long-term operational excellence. Major projects included: Renovation
Slide 17: Commissioning of sample preparation system
Commissioning of sample preparation system − New, fully automated system more than doubles annual number of recycling material samples at Hamburg site − Suppliers benefit from shorter throughput times, maximum transparency, and improved sampling quality − Enhanced process reliability through fully a
Slide 18: Overall positive sentiment for copper products; sulfuric acid market remains stable
Overall positive sentiment for copper products; sulfuric acid market remains stable at a high level Despite the anticipated supply deficit on the concentrate market, Aurubis continues to expect a Copper stable concentrate supply situation in 2025. Due to its well-established market position and long
Slide 19: Guidance range of FY 2024/25 sharpened
Guidance range of FY 2024/25 sharpened Our guidance range » Operating EBT around midpoint of the €330 – 370 million range » Operating ROCE between 8 – 10 % Net cash flow between €500 – 600 million Operating EBT Previous range Operating ROCE Previous range in € million in € million in % in % Group 33
Slide 20: In a challenging market environment, Aurubis achieved a robust result
Ken In a challenging market environment, Aurubis achieved a robust result in the first 9 months − EBITDA (€462 million) at prior-year level despite challenging market environment − EBT at €286 million, reflecting the resilience of the business model − Significantly improved cash flow and focus to fu
Slide 21: We look forward to seeing you at our Capital Market Day 2025!
We look forward to seeing you at our Capital Market Day 2025! Logistics − October 8 at 12:30 pm (GMT) − WeWork Office Space in London Agenda (partial list) − Introduction of the Aurubis Management Team, including their ambitions and focus areas − Overview of business macro trends and how we intend t
Slide 22: Quarterly Report First 9 Months 2024/25
Quarterly Report First 9 Months 2024/25 Conference Call on August 5, 2025 22
Slide 23: Financial calendar
Torben Financial calendar − Capital Market Day October 8, 2025 − Annual Report 2024/25 December 4, 2025 − Q1 2025/26 February 5, 2026 − Annual General Meeting February 12, 2026 (prelim.) − Q2 2025/26 May 11, 2026 − Q3 2025/26 August 6, 2026 − Annual Report 2025/26 December 2, 2026 Aurubis Analyst Co
Slide 24: Your IR contacts
Your IR contacts Ken Nagayama Elke Brinkmann Torben Rennemeier VP Head of Specialist Investor Relations Investor Relations Investor Relations +49 40 7883-3178 +49 40 7883-2379 + 49 152 2366 0716 k.nagayama@aurubis.com e.brinkmann@aurubis.com t.rennemeier@aurubis.com Aurubis Analyst Conference Call o
Slide 25: Aurubis at a glance
Based in Hamburg, Aurubis AG The company’s main expertise Aurubis develops its leading market is in optimally processing at a glance position with a responsible approach to the environment, concentrates and recycling raw materials with people and resources complex qualities The company, which was fo
Slide 26: Scheduled shutdowns in the next 3 years
Scheduled shutdowns in the next 3 years EBT effect from scheduled shutdowns (in € million) Status: August 2025 FY 2024/25 FY 2025/26 FY 2026/27 Smelter May maintenance ~23 2027 Hamburg Anode furnace May/June ~8 Hamburg 2026 Smelter May/July Oct/Nov maintenance ~34 ~5 2025 2026 Pirdop May May May KRS
Slide 27: Primary copper production process
Primary copper production process Sulfuric acid plant Off-gas cleaning Copper scrap Copper concentrates Copper matte Blister copper (64 % Cu) (98 % Cu) Flash smelter Converter Anode furnace Copper Nickel sulfate (99.5 % Cu) Anode Cathode Anode slime Anode casting wheel Tankhouse Precious metal refin