Acerinox Sa · BME:ACX

Acerinox Sa — Q2 2023 Earnings Presentation

17 slides from Acerinox Sa's earnings presentation, 2023

  1. Slide 1: Q2 2023 Results presentation

    1 Q2 2023 Results presentation

  2. Slide 2: Disclaimer

    2 Disclaimer This document may contain forward-looking information and statements about ACERINOX, S.A., its subsidiaries and/or its management. These forward-looking statements include financial projections and estimates and their underlying assumptions, and statements regarding the intent, belief or

  3. Slide 3: H1 2023 at a glance

    Q2 2023 Results Presentation 3 H1 2023 at a glance The Group’s performance continues to reflect our structural growth & strategic repositioning Q2 EBITDA (236 million EUR) improved 5% over Q1, despite challenging European market conditions Stronger US & HPA markets delivered Acerinox’s third best H1

  4. Slide 4: H1 2023: Continued to deliver on objectives

    Q2 2023 Results Presentation 4 H1 2023: Continued to deliver on objectives Strong balance sheet Excellence NFD/EBITDA: EBITDA margin: 0.78x 13% Shareholder remuneration: Safety: 0.30 EUR/share1 in H1 13% reduction in LTIFR Capex to increase value: ROCE: 97 million EUR +21% 1 Total FY 2023 shareholde

  5. Slide 5: Strong contributor to the circular economy

    208 Q2 2023 Results Presentation 5 Strong contributor to the circular economy 2030 sustainability targets Positive Impact 360º Eco-efficiency Engaged team, and H1 2023 progress & culture, diversity, climate change sustainability initiatives and safety mitigation GHG emissions (Scope 1 & 2): Ethical,

  6. Slide 6: ESG ratings and achievements

    Q2 2023 Results Presentation 6 ESG ratings and achievements Acerinox is actively participating in the most relevant ESG assessment processes highlighting the sustainability performance improvements NEW ACHIEVEMENTS ★ Awarded by the stainless steel industry for its outstanding progress in the categor

  7. Slide 7: Q2 2023: Market backdrop

    Q2 2023 Results Presentation 7 Q2 2023: Market backdrop Q2 MARKET HIGHLIGHTS STAINLESS STEEL North American prices remain stable QoQ performance ● Germany -19% Imports dropped ● USA -6% ● Asia -15% Differences across markets American market remains in good condition Stable base price at reasonable l

  8. Slide 8: Q2 2023: Group financial highlights

    Q2 2023 Results Presentation 8 Q2 2023: Group financial highlights Reflects strategy of growth, diversification & strength Income statement Cash flow statement Balance sheet 131 million EUR Sales decrease operating working capital of -2% QoQ increase NFD / EBITDA 0.78x EBITDA margin 98 million EUR impro

  9. Slide 9: Q2 2023: Strong results

    Q2 2023 Results Presentation 9 Q2 2023: Strong results CONSOLIDATED RESULTS Million EUR % Q2 23 % H1 23 / Q2 2023 Q1 2023 Q2 2022 H1 2023 H1 2022 / Q2 22 H1 22 Consistent H1 EBITDA Melting production of 462 million EUR (thousands of metric 486 534 622 1,020 1,290 -22% -21% (13% margin): tons) Q1: 22

  10. Slide 10: Q2 2023: Solid EBITDA above last decade average

    Q2 2023 Results Presentation 10 Q2 2023: Solid EBITDA above last decade average Quarterly EBITDA Million EUR More competitive through excellence Benefiting from Better with VDM Benefiting from regionalization (1) Adjusted EBITDA Q4 2019: EUR 112 million, EBITDA without taking into account the provisio

  11. Slide 11: Stainless steel highlights

    Q2 2023 Results Presentation 11 Stainless steel highlights Million EUR % Q2 23 / % H1 23 / Q2 2023 Q1 2023 Q2 2022 H1 2023 H1 2022 Q2 22 H1 22 Melting production 465 515 601 979 1,247 -23% -21% (thousands of metric tons) 14% EBITDA margin Net sales 1,369 1,476 2,232 2,846 4,237 -39% -33% in Q2 and H

  12. Slide 12: High-performance-alloys highlights

    Q2 2023 Results Presentation 12 High-performance-alloys highlights Million EUR Q2 Q1 Q2 H1 H1 % Q2 23 / % H1 23 / 2023 2023 2022 2023 2022 Q2 22 H1 22 Melting production (thousands of metric 21 19 21 40 44 -1% -7% tons) Record H1 EBITDA of 76 million EUR: Net sales 387 305 303 692 584 28% 18% EBITDA

  13. Slide 13: Capital allocation

    Q2 2023 Results Presentation 13 Capital allocation Million EUR Breakdown of cash uses Q2 Net debt increase in H1: 281 million EUR Cash out OWC increase 324 million EUR 304 million EUR H1 Tax payments 152 million EUR HPA Stainless 202 million EUR 102 million EUR Capex 97 million EUR Dividend 75 milli

  14. Slide 14: Capital allocation priorities

    Q2 2023 Results Presentation 14 Capital allocation priorities Maintain strong balance sheet through the cycle Growth through organic and inorganic opportunities Improving shareholder returns ACERINOX 2020 RESULTS PRESENTATION

  15. Slide 15: Conclusions & outlook

    Q2 2023 Results Presentation 15 Conclusions & outlook 01 02 03 Solid first half of the year. Operating cash flow Uncertainties remain: Third best H1 Group (OCF) affected by OWC Geopolitical tensions, energy EBITDA in history increase and tax prices, and weak demand payments 04 05 06 We expect good Q3

  16. Slide 16: Definitions of financial terms

    16 Excellence 360º Plan: estimated efficiency savings for the period of 2019 to 2023 Operating Working Capital: Inventories + trade receivables − trade payables Net Cash Flow: Profit/(Loss) after tax and minorities + depreciation and amortization Net Financial Debt: Bank borrowings + bond issuance − c

  17. Slide 17: Q&A

    17 Q&A

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