Slide 1: Aurubis AG Metals for Progress
Aurubis AG Metals for Progress Conference Call on the Release of the Annual Report 2017/18 on December 11, 2018
Slide 2: Aurubis holds leading positions in the copper value chain
Aurubis holds leading positions in the copper value chain Change FY 2017/18 vs. prior year Position Concentrate processing* 2,522,000 t +4 % No. 2 worldwide Copper scrap input 237,000 t -13 % No. 1 worldwide Cathode output 1,162,000 t +1 % No. 2 worldwide Continuous cast wire rod 774,000 t +8 % No.
Slide 3: Generally positive market environment
Generally positive market environment Trend in significant market prices and refining charges 350% 100 % = Sept. 2016 300% European refining charges for copper scrap Sulfuric acid price 250% (spot CFR Brazil) Exchange rate (USD/€) 200% TC/RCs for copper concentrates (contract) 150% Copper premium 10
Slide 4: Operating earnings before taxes up 10% on previous year
Operating earnings before taxes up 10 % on previous year 12M 12M 2017/18 2016/17 Operating EBT (€ million) 329 298 Net cash flow (€ million) 203 480 Operating ROCE (%) 14.8 15.1 (operating EBIT last 4 quarters) December 2018 4
Slide 5: The Executive Board recommends an increase in the dividend to €1.55 per share
The Executive Board recommends an increase in the dividend to € 1.55 per share to reflect the good result Aurubis dividend (in € per share) Dividend yield (in %) 1.55 2.6 2.6 1.45 2.5 2.5 2.4 1.35 1.25 2.1 1.10 1.00 12/13 13/14 14/15 15/16 16/17 17/18* 12/13 13/14 14/15 15/16 16/17 17/18* * Recommen
Slide 6: Payout policy: at least 25% of operating consolidated net income
Payout policy: at least 25 % of operating consolidated net income Payout ratio (in %, calculated based on operating IFRS consolidated net income) 53 50 45 34 34 28 29 28 26 26 24 07/08 08/09 09/10 10/11 11/12 12/13 13/14 14/15 15/16 16/17 17/18* * Recommendation December 2018 6
Slide 7: Unscheduled shutdowns in Q4 2017/18 and Q1 2018/19
Unscheduled shutdowns in Q4 2017/18 and Q1 2018/19 Q4 2017/18 Q1 2017/18 Hamburg › Boiler damage › Boiler damage Jul./Aug./Sep. 2018 Nov. 2018 Pirdop › Boiler damage Oct./Nov. 2018 Lünen › Boiler damage › Boiler damage Sep. 2018 Nov. 2018 Total › 29,000 t concentrate › 70,000 t concentrate › 14,800
Slide 8: Scheduled shutdowns in the next 3 years
Scheduled shutdowns in the next 3 years Status: December 2018 (preliminary) FY 2018/19 FY 2019/20 FY 2020/21 Hamburg › Boiler repair/inspection › Anode furnace Oct./Nov. 2019 Apr. 2021 EBT effect ca. € 30 million EBT effect ca. € 8 million Pirdop › Boiler repair/inspection May/June 2019 EBT effect c
Slide 9: Operating EBT up by 10%
Operating EBT up by 10 % FY FY Change (operating IFRS) 2017/18 2016/17 Absolute Relative Revenues €m 11,694 11,040 654 6% Gross profit €m 1,214 1,169 45 4% EBITDA €m 462 440 22 5% EBIT €m 332 308 24 8% EBT €m 329 298 31 10 % Consolidated net income €m 265 236 29 12 % Net cash flow €m 203 480 -277 -5
Slide 10: Solid balance sheet figures provide room for future growth
Solid balance sheet figures provide room for future growth (operating IFRS) 9/30/2018 9/30/2017 operating operating Target Profitability ROCE* 14.8 % 15.1 % 15 % Capital structure - Equity ratio (equity / total liabilities) 55.5 % 52.5 % > 40 % Debt and interest coverage - Net financial liabilities
Slide 11: Inventory build-up leads to higher total assets
Inventory build-up leads to higher total assets ASSETS (in € million) EQUITY AND LIABILITIES (in € million) 4,502 Liabilities 4,502 deriving from 162 Assets held for 590 4,077 assets held for 4,077 3,975 sale 3,975 sale Fixed 1,483 assets 1,354 1,444 Equity* 2,566 2,261 2,087 1,549 1,386 346 Invento
Slide 12: Segment MRP: Good operating performance and good market environment
Segment MRP: Good operating performance and good market environment Operating result in Segment Metal Refining & Processing (MRP) (12M, FY 2017/18) FY FY » Higher concentrate throughput due to the Hamburg and Pirdop Segment MRP 17/18 16/17 sites’ good performance EBIT (in €m) 359 347 » Substantially
Slide 13: MRP: Sales volumes of other metals
MRP: Sales volumes of other metals Sales volumes of other metals (excluding copper) FY FY 17/18 16/17 Gold t 48 42 Silver t 877 1,026 Lead t 19,527 19,624 Nickel t 3,022 2,828 Expansion of the multi-metal business: Outstanding expertise & innovative Tin t 1,851 1,547 solutions for the industrial sec
Slide 14: Additional information on our other metals
Additional information on our other metals annualreport2017-18.aurubis.com December 2018 14
Slide 15: Segment FRP: Operating EBT significantly higher than previous year
Segment FRP: Operating EBT significantly higher than previous year Operating result in Segment Flat Rolled Products (FRP) (12M, FY 2017/18) FY FY Segment FRP 17/18 16/17 » Operating EBT significantly up on previous year due to positive EBIT (in €m) 18 2 effects from the ongoing efficiency enhancemen
Slide 16: Our strategic triad guides our future activities
Our strategic triad guides our future activities December 2018 16
Slide 17: Efficiency: Project target of €30 million for FY 2017/18 was achieved
Efficiency: Project target of € 30 million for FY 2017/18 was achieved Target: project success > € 200 million (reference year 2014/15) (in € million) + 80 > 200 » Measures for 2018/19 have been identified and + 60 are being implemented (> 120) » We are currently fully on schedule » All of the compa
Slide 18: Growth: Project Future Complex Metallurgy (FCM)
Growth: Project Future Complex Metallurgy (FCM) New facilities in Hamburg and Olen: » Bath smelting furnace, as well as leaching and electro-winning plant » Capex: around € 320 million (PFS) Additional use of raw materials: » 270,000 t of concentrates, recycling raw materials, and smelter intermedia
Slide 19: Growth: Current status of Segment FRP sale
Growth: Current status of Segment FRP sale » Term sheet: February 12, 2018; purchase agreement: March 29, 2018 » Currently: review by the EU antitrust authorities has been in Phase 2 since August 1, 2018 » Decision from the EU antitrust authorities is expected by February 7, 2019 at the latest Decem
Slide 20: Growth: Aurubis acquires Codelco's shares in Deutsche Giessdraht
Growth: Aurubis acquires Codelco’s shares in Deutsche Giessdraht » On January 19, 2018, Aurubis AG and Codelco Kupferhandel GmbH signed a purchase agreement covering Aurubis’ acquisition of all shares of Deutsche Giessdraht GmbH in Emmerich am Rhein. » Until then, Aurubis had held 60 % and Codelco h
Slide 21: Forecast for 2018/19
Forecast for 2018/19 » Copper price: average 2019 copper price forecast at US$ 6,699/t (Reuters poll 10/2018) » Copper concentrates: good supply with satisfactory TC/RCs expected » Plant availability at our primary copper smelters expected to be slightly below previous year » Scheduled shutdowns wil
Slide 22: Forecast for 2018/19: Operating EBT moderately lower than prior year
Forecast for 2018/19: Operating EBT moderately lower than the very good prior-year level due to shutdowns Aurubis definition for a qualified comparative forecast Overall, we expect moderately lower operating EBT and a slightly Change in operating EBT lower operating ROCE for the Aurubis Group in fis
Slide 23: Metals for Progress - Vision 2025
AAurubis Metals for Progress VISION VISION 2025 Ps Passion for metallurgy VISION 2025 23
Slide 24: Your IR Contacts: Financial Calendar
Your IR Contacts: Angela Seidler Elke Brinkmann Christoph Tesch Head of Investor Relations Senior Manager Senior Manager +49 40 7883-3178 +49 40 7883-2379 +49 40 7883-2378 a.seidler@aurubis.com e.brinkmann@aurubis.com c.tesch@aurubis.com Financial Calendar » Quarterly Report First 3 Months 2018/19 F
Slide 25: Legal disclaimer
Legal 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 ris