Slide 1: Q2 2024 Results Presentation
1 < Q2 2024 Results Presentation July 24, 2024
Slide 2: Disclaimer
Q2 2024 RESULTS PRESENTATION 2 Disclaimer This document may contain forward looking information and statements about ACERINOX, S.A., its subsidiaries and/or its management, including but not limited to financial projections and estimates and their underlying assumptions, and statements regarding the
Slide 3: Q2 2024 at a glance
Q2 2024 RESULTS PRESENTATION 3 Q2 2024 at a glance Satisfactory Q2 EBITDA of €125 million (€236 million in H1), despite weak market conditions and strike in Acerinox Europa Strong cash generation in Q2 of €77 million (€266 million in H1), supported by EBITDA and working capital reduction Net debt at
Slide 4: Contribution to circular economy and sustainable development
208 Q2 2024 RESULTS PRESENTATION 4 Contribution to circular economy and sustainable development 2030 sustainability targets (*) 360º Positive Impact Plan Eco-efficiency and Engaged team, Most significant sustainability climate change culture, diversity, and safety initiatives in Q2 2024 mitigation GHG
Slide 5: Q2 2024: Market Highlights
Q2 2024 RESULTS PRESENTATION 5 Q2 2024: Market Highlights STAINLESS STEEL Apparent demand of flat products up 3% in 2024 through May Inventories below historical average USA Base price stable after reduction at the beginning of the year Imports of flat products market share: 27% in 2024 through May Ap
Slide 6: Q2 & H1 2024: Consolidated group highlights
Q2 2024 RESULTS PRESENTATION 6 Q2 & H1 2024: Consolidated group highlights CONSOLIDATED RESULTS Q2 Q1 Q2 H1 H1 % Q2 24/ % H1 24/ Million EUR 2024 2024 2023 2024 2023 Q2 23 H1 23 Strong contribution Melting production (thousands of metric tons) 405 461 534 866 1,020 -17% -15% from NAS and Net Sales 1
Slide 7: Q2 & H1 2024: Stainless steel highlights
Q2 2024 RESULTS PRESENTATION 7 Q2 & H1 2024: Stainless steel highlights Million EUR Q2 Q2 H1 H1 % Q2 24/ % H1 24/ Q1 2024 Q2 23 H1 23 2024 2023 2024 2023 Q2 EBITDA:€92 million Melting production 384 440 465 824 979 -17% -16% Impact of Acerinox Europa strike: €-28 million (thousands of metric tons) N
Slide 8: Q2 & H1 2024: High-performance-alloys highlights
Q2 2024 RESULTS PRESENTATION 8 Q2 & H1 2024: High-performance-alloys highlights Million EUR Q1 Q2 H1 H1 % Q2 24/ % H1 24/ Q2 2024 Q2 23 H1 23 2024 2023 2024 2023 Melting production 20 21 21 42 40 -3% 3% (thousands of metric tons) H1 EBITDA of €65 million Net sales 311 378 387 689 692 -20% - (9% marg
Slide 9: Capital allocation
Q2 2024 RESULTS PRESENTATION 9 Capital allocation Q2 Million EUR Q2 & H1 Highlights Solid operating cash flow: Q2: €77 million H1: €266 million H1 Million EUR Million EUR Dividend payment in H1: €77 million Strong debt reduction: Q2: €43 million H1: €150 million ACERINOX 2020 RESULTS PRESENTATION
Slide 10: Acerinox strategy: Stainless division acquisition
Q2 2024 RESULTS PRESENTATION 10 Acerinox strategy Stainless division acquisition USA antitrust and CFIUS, New collective bargaining agreement at and FDI in Europe: Approved Acerinox Europe that will drive a new business model focused on higher ✓ Haynes extraordinary value-added products, flexibility
Slide 11: Beyond Excellence Target: a new drive for competitiveness
Q2 2024 RESULTS PRESENTATION 11 Beyond Excellence Target: a new drive for competitiveness €100 million target at EBITDA level (2024-2026) Decarbonization Efficiency Customer centric R+D+I Value-added Productivity Supply chain €0.4 million €9 million €2 million products €3 million €3 million €2 millio
Slide 12: Conclusions & outlook
Q2 2024 RESULTS PRESENTATION 1212 Conclusions & outlook 01 02 03 Acerinox obtained Strong cash generation: a satisfactory EBITDA Shareholder return: Net financial debt €0.62 per share in 2024 in H1 2024 €191 million (6% dividend yield as of today) 04 05 06 Stainless: Update on Haynes acquisition: Wea
Slide 13: Alternative Performance Measures (Definitions)
Q2 2024 RESULTS PRESENTATION 13 Alternative Performance Measures (Definitions) Beyond Excellence: Operational excellence program for 2024 to 2026. These initiatives will be based on digital transformation, interdisciplinary collaboration, and a commitment to innovation Excellence 360º Plan: Estimated
Slide 14: Q&A
14 < Q&A Q2 2024 Results Presentation July 24, 2024