Befesa Sa · XETR:BFSA
Befesa Sa — Investor Presentation (April 2024)
13 slides from Befesa Sa's investor presentation, April 2024
Slide 1: Company Presentation April 2024
Company Presentation April 2024
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and information relating to Befesa and its affiliates that are based on the beliefs of its management, including assumptions, opinions and views of Befesa and its affiliates as well as information cited from third party sources. Such s
Slide 3: Befesa at a glance
Befesa at a glance Global leader in Europe, the US and Asia in providing regulated critical hazardous waste recycling services to the steel and aluminium industries 2023 Steel Dust Recycling Aluminium Salt Slags Recycling €1,181m Revenue #1 Position global #1 Position in Europe in salt slags subsegm
Slide 4: Key milestones
Key milestones Befesa has grown successfully through organic initiatives and acquisitions Steel Dust expansion China First to market with state-of-the-art 110 kt EAFD recycling plants in China: Changzhou, Jiangsu: Steel Dust expansion Korea & Turkey ✓ Completed on budget ✓ In commercial operations s
Slide 5: Global leader in Europe, North America and Asia
Global leader in Europe, North America and Asia Befesa is the global leader in steel dust and the European leader in salt slags recycling services with a competitive advantage due to its close-proximity to key clients; 24 plants globally Lünen EAFD recycling plants Duisburg Hanover Salt slags & SPL
Slide 6: Highly regulated and critical service model
Highly regulated and critical service model Befesa is the leading environmental services partner in the circular economy of the 2nd steel and aluminium industry by recycling and avoiding the landfilling of around 1.9 Mt hazardous residues and recovering around 1.7 Mt of new valuable materials HAZARD
Slide 7: Befesa's hedging strategy provides price visibility and lowers impact from zinc price volatility
Befesa’s hedging strategy provides price visibility and lowers impact from zinc price volatility • Befesa’s hedging strategy unchanged Zinc LME1 • 1—3 years forward • Targeting 60% to 75% of zinc equivalent volume • Befesa providing no collateral c. €2,650 • Befesa’s hedging strategy has Befesa’s c.
Slide 8: Well defined growth roadmap in execution
Well defined growth roadmap in execution … • Market fundamentals remain strong and favourably support Befesa’s business model & growth plan Decarbonisation trend will drive increase of EAF steel production over the coming years in the key markets where Befesa operates EV trend will drive demand for
Slide 9: Driving €125—155m incremental EBITDA, 8—10% CAGR, globally balanced
… driving €125—155m incremental EBITDA, 8—10% CAGR, globally balanced c. €340—370m c. 8—10% CAGR +€45—55m +€45—55m +€35—45m ✓ China I & II ➢ China III (✓LOI) €215m • New EAFD plant • China IV • WOX washing expansion • China V ✓ Zinc refining • 2nd Alu expansion • Capacity utilisation & • New Salt Sl
Slide 10: ESG highlights
ESG highlights Lost Time Injury Rate (LTIR)1 ESG Ratings2 ESG Report 2023 0.45 LTIR in 2023 (all time low) 31 December 2023 The Befesa ESG Report 2023 will be -18% yoy (2022: 0.55) issued in June 2024 B / Prime -92% vs baseline (2015: 5.71) #13 / 74 #7 / 103 BBB Top 5% Top 9% 1 Befesa’s own employee
Slide 11: Experienced and stable management team
Experienced and stable management team Senior management team delivering results through long-standing industry expertise, entrepreneurial spirit and focus on operational excellence as well as governance and compliance processes Javier Molina Asier Zarraonandia Key achievements / track record Execut
Slide 12: Multi-year trend – Key financials
Multi-year trend – Key financials1 (€m, unless otherwise stated) 2017 2018 2019 2020 2021 2022 2023 Revenue 667.42 720.1 647.9 604.3 821.6 1,136.0 1,180.6 Reported EBITDA 153.0 176.0 159.6 123.5 189.6 234.9 188.8 Reported EBITDA 22.9%2 24.4% 24.6% 20.4% 23.1% 20.7% 16.0% margin % Adjusted EBITDA3 17
Slide 13: Multi-year trend – Operational data
Multi-year trend – Operational data 2017 2018 2019 2020 2021 2022 2023 EAF steel dust throughput 661.0 717.1 665.8 687.0 885.7 1,193.8 1,194.8 (kt) EAF steel dust average 84.7% 92.0% 80.7% / 83.2% 83.3%2 76.8% 69.5% capacity utilisation (%) 90.1%1 Waelz oxide (WOX) sold 217.8 240.9 217.6 239.2 291.0