Aurubis Ag · XETR:NDA

Aurubis — Non-Deal Roadshow (January 2025)

28 slides from Aurubis's roadshow presentation, Jan 29, 2025

  1. Slide 1: Aurubis AG Metals for Progress

    Aurubis AG Metals for Progress Baader Bank Roadshow München January 29th, 2025

  2. Slide 2: Aurubis production sites

    Aurubis production sites Headquarters Primary Copper Recycling/Precious Metals Hamburg Pirdop Copper Products Lünen Olen Richmond Hamburg (DE) Beerse (BE) Olen (BE) Lünen (DE) Under construction Berango (ES) Beerse Berango Pirdop (BG) Aurubis Baader Bank Roadshow München

  3. Slide 3: Closing the loop is part of Aurubis' integrated business model

    Closing the loop is part of Aurubis’ integrated business model 28 30 34 45 46 47 Ni Zn Se Rh Pd Ag Copper cathodes Concentrates Smelting and Nickel sulfate refining Selenium Sulfuric acid 50 82 79 78 75 52 Sn Pb Au Pt Re Te Further processing Scrap/ intermediates Metals for progress Continuous cast

  4. Slide 4: More than just copper: Our extensive multimetal portfolio

    More than just copper: Our extensive multimetal portfolio Continuous cast Output 880,000 t 0% wire rod output Cathode 1,092,000 t -2 % Copper shapes output 172,000 t -3 % output change vs. Sulfuric acid Input FY 2023/24 prior year 2,094,000 t -3 % Flat rolled output Concentrate products + 2,266,000

  5. Slide 5: We combine 1st class products with high recycling content

    We combine 1st class products with high recycling content In our smelter network, primary and secondary sources provide a solid basis for our high-quality products. Aurubis Copper Cathode 43 % Aurubis Silver 52 % recycled content recycled content Aurubis SHAPES 30 % Aurubis Gold 23 % recycled conten

  6. Slide 6: Robust performance in volatile market environment

    Robust performance in volatile market environment Aurubis achieved a strong operating result in FY 2023/24 Operating EBT of Operating ROCE Operating EBT positively influenced by slightly increased TC/RCs for concentrates, a significant higher metal result, higher earnings from the € 413 million 11.5

  7. Slide 7: Gross margin split shows balanced earnings drivers and resilience of Aurubis business model

    Gross margin split shows balanced earnings drivers and resilience of Aurubis business model Breakdown of income components in the Aurubis Group 12M 2023/24 YTD (YTD prior-year figures) 31 % (34 %) Treatment charges for concentrate + 32 % (27 %) recycling input Metal result ~ € 2,139 million* (~ € 1,

  8. Slide 8: Group costs — increased personnel costs due to growth projects

    Group costs — increased personnel costs due to growth projects Overview of cost/expense positions 12M 2023/24 YTD (YTD prior-year figures) 11 % (11 %) Depreciation and amortization 32 % (30 %) Personnel costs 11 % (13 %) Consumables ~ €1,975 million* 12 % (14 %) (~ €1,888 million*) External services

  9. Slide 9: The Aurubis segments

    The Aurubis segments Aurubis' international, integrated smelter network Multimetal Recycling Custom Smelting & Products Input  Scrap/blister  E-scrap  Concentrates  E-scrap materials  Slags/residues  Other recycling materials  Scrap/blister  Other recycling materials Products  Cu cathodes 

  10. Slide 10: Custom Smelting & Products segment (CSP)

    Custom Smelting & Products segment (CSP) CSP income components 12M 2023/24 YTD (prior-year figures*) 12M 12M Operating results 2023/24 2022/23 EBIT €m 443 241 24 % (28 %) EBT €m 446 253 Treatment charges ROCE1 % 19.6 13.0 for concentrate + 27 % (18 %) recycling input Metal result Quantities Concentr

  11. Slide 11: Multimetal Recycling segment (MMR)

    Multimetal Recycling segment (MMR) MMR income components 12M 2023/24 YTD (prior-year figures*) 12M 12M Operating results 2023/24 2022/23 EBIT €m 81 177 46 % (47 %) EBT €m 79 174 Refining charges 44 % (45 %) for recycling input Metal result ROCE1 % 5.6 15.4 Quantities ~ € 623 million* Copper scrap/bl

  12. Slide 12: Net cash flow in line with guidance, enabling execution of growth projects

    Net cash flow in line with guidance, enabling execution of growth projects 12M 12M 2023/24 2022/23 Net cash flow (cash inflow €m 537 573 from operating activities)  Reliable net cash flows Cash outflow for investment €m -726 -610 activities  High capital outflows for pursuing growth strategy, enab

  13. Slide 13: Dividend proposal of € 1.50 reflects financial strength and investment roadmap

    Dividend proposal of € 1.50 reflects financial strength and investment roadmap Aurubis operating EPS Dividend (in € per share) Dividend yield (in %) (in € per share) 9.91 3.3 1.80 1.60 7.66 1.50 1.40 2.5 6.51 1.30 2.3 6.13 2.2 2.0 3.73 19/20 20/21 21/22 22/23 23/24 19/20 20/21 21/22 22/23 23/24* 19/

  14. Slide 14: Market outlook for 2024/25

    Market outlook for 2024/25 We anticipate a tighter concentrate market with sufficient supply from the mine side, underpinned Copper by expansion in the smelter industry. Well diversified supplier base ensures Aurubis has sufficient concentrates input material. Our smelters are already well supplied

  15. Slide 15: EBT between € 300 million and € 400 million

    Confirmation of FY 2024/25 guidance Our forecast range Operating EBT Operating ROCE between € 300 million between 7 % and € 400 million and 11 % Operating EBT Operating ROCE in € million in % Group 300–400 7–11 Multimetal Recycling 50–110 4–8 Custom Smelting & Products 310–370 14–18 Aurubis Baader B

  16. Slide 16: Expanding our flowsheet with additional smelting furnaces and processes to drive multimetal growth strategy

    Expanding our flowsheet with additional smelting furnaces and processes to drive multimetal growth strategy Input materials Smelting Refining Multimetal Cu concentrates HH HH » Cu — Cu processing — Pir Ol Cu/CuNi — HH » Ag Primary HH CuNi electrolyte — PM/Ni — tankhouse Lue Pir » Au sites Pir — repr

  17. Slide 17: 5 of 11 strategic projects executed

    5 of 11 strategic projects executed Implemented In implementation ASPA Aurubis Richmond 1&2 Complex Recycling Hamburg (CRH) (Beerse) (Augusta, Georgia) (Hamburg) Anode Furnace 2.0 Slag Processing Solar Park 3&4 (Hamburg) (Pirdop) (Pirdop) Industrial Heat II Tankhouse Expansion Precious Metals Refiner

  18. Slide 18: Focus on execution of strategic projects

    Focus on execution of strategic projects 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) (BG Pirdop) (DE Hamburg)  Ano

  19. Slide 19: Capex spending peaked in FY 2023/24

    Capex spending peaked in FY 2023/24 (in € million) Baseline capex Strategic capex*  We planned to invest € ~1.7 bn in strategic projects — more than 50 % of these investments are already behind us.  In total, strategic capex will create valuable synergies 525 430 with our existing processes and co

  20. Slide 20: Our ambition is to significantly strengthen the free cash flow profile in the mid-term

    Our ambition is to significantly strengthen the free cash flow profile in the mid-term Schematic development  EBITDA impact over next 3–4 years ramping up to ~€ 260 million p.a. EBITDA  Thereof ~€ 170 million p.a. from Aurubis Richmond Today Mid-term  Strong cash generation continues Free cash fl

  21. Slide 21: Leading the way with life cycle assessments — and substantially lower carbon footprints than industry averages

    Leading the way with life cycle assessments — and substantially lower carbon footprints than industry averages Copper cathodes (in kg CO2 eq./t Cu) Absolute Scope 1+2 CO2 emissions (in kt) 1,600 Global industry average Aurubis 1,177 800 2018 2023 2030 Scope 3 CO2 emissions (in kt)1 6,502 4,630 4,942

  22. Slide 22: Financial calendar

    Financial calendar  Q1 2024/25 February 6, 2025  AGM April 3, 2025  Q2 2024/25 May 8, 2025  Q3 2024/25 August 5, 2025  Annual Report 2024/25 December 4, 2025 Aurubis Baader Bank Roadshow München

  23. Slide 23: Your IR contacts

    Your IR contacts Ken Nagayama Elke Brinkmann Ferdinand von Oertzen VP Investor Relations Head of Investor Relations Senior Manager Investor Relations +49 40 7883-3178 +49 40 7883-2379 +49 40 7883-3179 k.nagayama@aurubis.com e.brinkmann@aurubis.com f.vonoertzen@aurubis.com Aurubis Baader Bank Roadsho

  24. Slide 24: Thank you for your participation.

    Thank you for your participation. For further questions, contact: IR@aurubis.com

  25. Slide 25: Scheduled shutdowns in the next 3 years

    Scheduled shutdowns in the next 3 years EBT effect from scheduled shutdowns (in € million) Status: December 2024 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 K

  26. Slide 26: Aurubis at a glance

    Based in Hamburg, Aurubis AG The company’s main expertise Aurubis develops its leading market is in optimally processing position with a responsible concentrates and recycling at a glance approach to the environment, raw materials with people and resources complex qualities The company, which was fo

  27. 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

  28. Slide 28: Disclaimer

    Disclaimer Forward-looking statements This document 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 and unknown risks and

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