Slide 1: Interim Report First 6 Months 2024/25
Interim Report First 6 Months 2024/25 Conference Call on May 8, 2025
Slide 2: Disclaimer
Disclaimer Forward-looking statements Today’s capital market presentation 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
Slide 3: Executive summary of first 6 months 2024/25
Executive summary of first 6 months 2024/25 Aurubis achieved a robust operating result in a challenging environment. Operating EBT Operating EBITDA Operating EBT positively influenced by a considerably higher metal result 6M 2024/25 of 6M 2024/25 of due to increased metal prices, significantly highe
Slide 4: Copper tariffs and economic implications
Copper tariffs and economic implications Recent developments − Copper not affected by the reciprocal tariffs announced by President Trump on April 2, 2025. − Investigation under Section 232 launched on February 25, 2025: − Ongoing investigation into whether foreign copper imports threaten US nationa
Slide 5: Resilient Aurubis business model offsets volatile market development
Resilient Aurubis business model offsets volatile market development Trend in significant market prices and refining charges 200% 100 % = Sept. 2022 European copper premium* 150% Sulfuric acid (FOB NW Europe 100% in US$/t)* Copper price (settlement) 50% Exchange rate (US$/€) European refining charge
Slide 6: Aurubis achieves robust results in first 6 months of FY 2024/25
Aurubis achieves robust results in first 6 months of FY 2024/25 6M 6M Change vs. (operating results) 2024/25 2023/24 prior year Revenues €m 9,184 8,249 11 % Gross profit €m 850 876 -3 % EBITDA €m 341 338 1% EBIT €m 231 240 -4 % EBT €m 229 243 -6 % Consolidated net income €m 175 195 -10 % Operating R
Slide 7: Gross margin at prior-year level underscores resilient business model
Gross margin at prior-year level underscores resilient business model Breakdown of income components in the Aurubis Group 6M 2024/25 YTD (YTD prior-year figures) 30 % (32 %) Treatment charges for concentrates + 35 % (32 %) recycling input Metal result ~ €1,077 million* (~ €1,105 million*) 35 % (36 %
Slide 8: Custom Smelting & Products segment with improved results despite challenging market developments
Custom Smelting & Products segment with improved results despite challenging market developments Breakdown of income components in CSP segment 6M 2024/25 YTD (YTD prior-year figures) 6M 6M Operating results 2024/25 2023/24 23 % (27 %) EBT €m 242 235 Treatment charges 29 % (27 %) ROCE1 % 16.8 14.2 fo
Slide 9: Multimetal Recycling segment with improved gross margin, though impacted by ramp-up costs
Multimetal Recycling segment with improved gross margin, though impacted by ramp-up costs Breakdown of income components in MMR segment 6M 2024/25 YTD (YTD prior-year figures) 6M 6M Operating results 2024/25 2023/24 44 % (46 %) EBT €m 51 75 Refining charges 46 % (45 %) ROCE1 % 3.9 10.3 for recycling
Slide 10: Overview of Group costs — stable cost situation
Overview of Group costs — stable cost situation Overview of cost/expense positions 6M 2024/25 YTD (YTD prior-year figures 1) 12 % (10 %) Depreciation and amortization 33 % (33 %) Personnel costs 12 % (11 %) Consumables ~ €919 million* 11 % (12 %) (~ €971 million*) External services 22 % (22 %) 10 %
Slide 11: Cash flow profile will be improved through working capital initiatives and cost improvement measures
Cash flow profile will be improved through working capital initiatives and cost improvement measures Overview of measures to strengthen the cash flow profile Reduction of consulting costs Net working capital Savings from optimization initiatives G&A expenses Decrease of travel expenses Mid-term targ
Slide 12: Enhanced net cash flow; investment outflow impacted by execution of strategic projects
Enhanced net cash flow; investment outflow impacted by execution of strategic projects as expected in € million (previous year) − Operating EBITDA of €341 million reflects robust financial performance 341 (338) − Delta net working capital includes 10 €120 million in inventory reduction, 190 €261 mil
Slide 13: Aurubis' strong financial position enables our growth strategy
Aurubis’ strong financial position enables our growth strategy 6M 6M 2024/25 2023/24 Target Equity ratio % 55.6 55.9 > 40.0 (equity/total assets) Debt coverage2 0.3 0.2 < 3.0 6M 6M Additional KPIs 2024/25 2023/24 Capital expenditure €m 340 317 Capital employed €m 4,074 3,683 (balance sheet date) Net
Slide 14: Execution of strategic projects on track
Execution of strategic projects on track 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) (DE (BG Pirdop) Hamburg) − Ano
Slide 15: Approximately 65 % of capex program implemented by Q2 2024/25
Approximately 65 % of capex program implemented by Q2 2024/25 (in € million) Baseline capex Strategic capex* − We have planned to invest €~1.7 bn in strategic projects — €~1.1 bn of these investments are already behind us − Overall, strategic capex will create valuable synergies 525 430 with our exi
Slide 16: Market outlook for 2024/25 reflects broad range of developments
Market outlook for 2024/25 reflects broad range of developments Despite the anticipated supply deficit on the concentrate market, Aurubis continues to expect a Copper stable concentrate supply situation in 2025. Due to its well-established market position and long- concentrates term contract structu
Slide 17: Confirmation of FY 2024/25 guidance despite challenging market environment
Confirmation of FY 2024/25 guidance despite challenging market environment Our forecast range Operating EBT around Operating ROCE midpoint of the €300 million between 7 % to €400 million range and 11 % Operating Operating EBT in € million ROCE in % Group 300 – 400 7 – 11 Multimetal Recycling 50 – 11
Slide 18: In a challenging market environment, Aurubis achieved a robust result in the first 6 months
In a challenging market environment, Aurubis achieved a robust result in the first 6 months − With an EBT of €229 million in the first half-year, Aurubis delivered robust results again – a reflection of our resilient business model − Strong sulfuric acid earnings and higher metal result led to impro
Slide 19: Interim Report First 6 Months 2024/25
Interim Report First 6 Months 2024/25 Conference Call on May 8, 2025
Slide 20: Financial calendar
Financial calendar − Q3 2024/25 August 5, 2025 − Annual Report 2024/25 December 4, 2025 Aurubis Analyst Conference Call on May 8, 2025 20
Slide 21: Your IR contacts
Your IR contacts Ken Nagayama Elke Brinkmann Torben Rennemeier VP Head of Specialist Investor Relations Investor Relations Investor Relations +49 40 7883-3178 +49 40 7883-2379 + 49 152 2366 0716 k.nagayama@aurubis.com e.brinkmann@aurubis.com t.rennemeier@aurubis.com Aurubis Analyst Conference Call o
Slide 22: 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 fo
Slide 23: Scheduled shutdowns in the next 3 years
Scheduled shutdowns in the next 3 years EBT effect from scheduled shutdowns (in € million) Status: May 2025 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 KRS Lü
Slide 24: 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