Slide 1: Annual Report Fiscal Year 2020/21 Analyst Conference Call
Annual Report Fiscal Year 2020/21 Analyst Conference Call on December 3, 2021
Slide 2: Executive summary of fiscal year 2020/21
Executive summary of fiscal year 2020/21 Aurubis closed fiscal year 2020/21 with the best result in company history. Operating EBT of € 353 million Exceeding our forecast for FY 2020/21. (PY: € 221 million) ROCE 15.6 % Generally very positive development of all earnings drivers and good Q4 2020/21 (
Slide 3: Strong recycling and product markets translate into higher production numbers
Strong recycling and product markets managed to translate into higher production numbers Change vs. Change vs. FY 2020/21 prior year FY 2020/21 prior year Concentrate processing1 2,250,000 t -5 % Gold 51 t +9 % Copper scrap/ 436,000 t +18 % Silver 949 t -2 % blister copper input2 Other recycling mat
Slide 4: Market conditions 2020/21: Strong recycling markets and sulfuric acid prices
Market conditions 2020/21: Strong recycling markets and sulfuric acid with strongly increased prices Trend in significant market prices and refining charges 100 % = Sept. 2018 400% Sulfuric acid price 350% (spot CFR Brazil) Copper price (settlement) 300% 250% Exchange rate (US$/€) 200% European refi
Slide 5: Aurubis achieved best annual result in company history
Aurubis achieved best annual result in company history 12M 12M Change vs. (operating IFRS) 2020/21 2019/20 prior year Revenues €m 16,300 12,429 31 % Gross profit €m 1,430 1,233 16 % EBITDA €m 565 415 36 % EBIT €m 366 223 64 % EBT €m 353 221 60 % Consolidated net income €m 266 167 59 % Operating ROCE
Slide 6: Energy costs in the context of total Group costs
Energy costs in the context of total Group costs Additional overview of cost/expense positions 10 % External services 33 % Personnel costs 11 % Consumables FY 2020/21 13 % Depreciation ~ €1.68 billion and amorti- zation 18 % Other operating 14 % expenses Energy costs FY 19/20 ~ €1.54 billion Aurubis
Slide 7: Increase in CO2 and coal prices weighed on electricity costs in second half
Increase in CO2 and coal prices weighed on electricity costs in second half of FY 20/21 – hedges partially mitigated risk Electricity consumption and CO2 scopes Breakdown of energy costs in the Aurubis Group Electricity incl. oxygen consumption in the 82 % Electricity Aurubis Group: approx. 2.00 TWh
Slide 8: Financial stability provides room for future growth projects
Financial stability provides room for future growth projects 12M 12M 2020/21 2019/20 Target ROCE1 % 15.6 9.3 15.0 Equity ratio % 48.2 49.1 > 40.0 (equity / total assets) Debt coverage2 -0.7 0.2 < 3.0 12M 12M Additional KPIs 2020/21 2019/20 Capital expenditure €m 256 237 Capital employed €m 2,415 2,7
Slide 9: Increase in total assets due to very good cash flow
Increase in total assets due to very good cash flow Assets (in € million) Equity and liabilities (in € million) 5,493 5,493 4,897 4,897 Fixed assets 1,943 Equity 2,648 1,871 2,403 Inventories 1,770 Provisions 362 1,855 Financial liabilities 582 410 584 Receivables 815 690 Other liabilities 1,901 Cas
Slide 10: Segment MRP: Excellent operating result due to good operating performance
Segment MRP: Excellent operating result due to good operating performance and leveraging of favorable market conditions Operating results for Segment Metal Refining & Processing (MRP) 12M 12M1 − Scrap markets show significantly higher RCs for 2020/21 2019/20 scrap and other recycling material compar
Slide 11: Segment FRP: Very good recovery of product demand
Segment FRP: Very good recovery of product demand, strong result despite Aurubis Stolberg shutdown Operating results for Segment Flat Rolled Products (FRP) 12M 12M − Strong demand from all customer segments of 2020/21 2019/20 FRP products EBIT (in €m) €m 7 -3 − Production volumes well above previous
Slide 12: Proposed dividend of € 1.60
Proposed dividend of € 1.60 Aurubis dividend Dividend yield Payout ratio (in € per share) (in %) (in %, calculated based on operating IFRS consolidated net income) 1.60 3.1 41 1.55 1.45 2.6 35 1.30 2.5 1.25 2.2 2.1 28 26 26 16/17 17/18 18/19 19/20 20/21* 16/17 17/18 18/19 19/20 20/21* 16/17 17/18 18
Slide 13: Market outlook for 2021/22
Market outlook for 2021/22 We anticipate an increasing concentrate supply from the mine side, incentivized Copper by the high copper price. concentrates Our smelters are well supplied beyond the end of Q1 2021/22. Recycling input We expect at least a stable supply for FY 2021/22. materials The smelt
Slide 14: Scheduled shutdowns in the next 3 years
Scheduled shutdowns in the next 3 years EBT effect from scheduled shutdowns (in € million) Status: November 2021 FY 2021/22 FY 2022/23 FY 2023/24 Smelter May/ May/ maintenance ~25 ~25 June 2022 June 2024 Hamburg Smelter Aug./ ~16 maintenance Sept. 2023 Pirdop Anode Nov./ Nov./ Nov./ furnace ~10 ~9 ~
Slide 15: New segmentation
New segmentation − E-scrap − Scrap/blister − Other recycling − Slags/residues materials − Concentrates − Scrap/blister Multimetal Recycling Custom Smelting & Products Further processing, for example for ... Cu cathodes Cu cathodes Rod − Renewable Other base metals Sulfuric acid Shapes energy solutio
Slide 16: New segmentation and transition based on the example of FY 2020/21
New segmentation and transition based on the example of FY 2020/21 Operating EBT Operating ROCE Multimetal Recycling (in € million) (in %) FY FY FY FY Mainly comprises production facilities for Old structure 20/21 19/20 Diff. 20/21 19/20 processing secondary raw materials Metal Refining & (e.g., cop
Slide 17: EBT between € 320 million and € 380 million
FY 2021/22 forecast – new segmentation Our forecast range OperatingEBT OperatingROCE between € 320 million between 12 % and 16 % and € 380 million Operating EBT Operating ROCE in € million in % Group 320-380 12–16 Multimetal Recycling 140–200 16–20 Custom Smelting & 210–270 10–14 Products Aurubis An
Slide 18: We work for an innovative and sustainable world
We work for an innovative and sustainable world MISSION We responsibly transform raw materials into metals for an innovative and sustainable world. VALUES STRATEGY Performance – means commitment! Responsibility – means decisions! Metals for Progress: Integrity – means maintaining trust! Driving Sust
Slide 19: Our strategy builds on the sound mission of Aurubis
Our strategy builds on the sound mission of Aurubis and covers all relevant aspects to drive sustainable growth Secure Strengthen Pursue Core Business Core Business Growth Options Industry Leadership in Sustainability Enablers − Digitalization, automation, and “Plant of the Future” − Strategic resou
Slide 20: Pursue growth options: Aurubis recycling plant in Richmond, USA
Pursue growth options Aurubis recycling plant in Richmond, USA Pursue Growth Options Investment EBITDA p.a. ~ € 300 million ~ € 80 million (by 2025/26) Aurubis creates frontrunner position in highly attractive US recycling market with very limited competition and significant annual growth rates of 4
Slide 21: Secure & strengthen core business: Advanced Sludge Processing by Aurubis (ASPA)
Secure & strengthen core business Advanced Sludge Processing by Aurubis (ASPA) Secure Strengthen Core Business Core Business Investment EBITDA p.a. ~ € 27 million ~ € 7 million Aurubis is strengthening its core business and taking the next step towards becoming (at full production) the most efficien
Slide 22: Six new, decisive KPIs underline Aurubis' ambitions in sustainability
Six new, decisive KPIs underline Aurubis’ ambitions in sustainability CO2 Emissions Scope 1+2 CO2 Emissions Scope 3 Air Emissions (Dust) Absolute scope 1+2 CO2 emissions (in kt) Scope 3 CO2 emissions (in kt)1 Air emissions (in g per t of multimetal Cu equivalent)2 1 2 3 1,600 2,240 56.5 1,700 -50% 8
Slide 23: Based on the strategic roadmap: Clear financial guidance
Based on the strategic roadmap: Clear financial guidance Short term Medium term Long term 2020/21ff. 2025/26 2030 − Capex ~€ 350 million − Capex ~€ 250 million − Volume of our long-term growth and approved planned in addition project pipeline significantly exceeds short- and medium-term investments
Slide 24: Financial Calendar
Financial Calendar − Virtual Capital Market Day December 6, 2021 − Link for Listen only − Q1 2021/22 February 7, 2021 − AGM February 17, 2021 − Q2 2021/22 May 10, 2021 − Q3 2021/22 August 5, 2021 − Annual Report 2021/22 December 7, 2021 Aurubis Analyst Conference Call on December 3, 2021 24
Slide 25: Thank you for your participation.
Thank you for your participation. For further questions, contact: IR@aurubis.com
Slide 26: Your IR Contacts
Your IR Contacts Angela Seidler Elke Brinkmann Ferdinand von Oertzen VP Investor Relations, Head of Investor Relations Specialist Investor Relations Corporate Communications +49 40 7883-2379 +49 40 7883-3179 & Sustainability e.brinkmann@aurubis.com f.vonoertzen@aurubis.com +49 40 7883-3178 a.seidler
Slide 27: 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 f
Slide 28: 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
Slide 29: 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