Aurubis Ag · XETR:NDA
Aurubis — Non-Deal Roadshow (April 2023)
40 slides from Aurubis's roadshow presentation, Apr 20, 2023
Slide 1: Aurubis AG Metals for Progress
Aurubis AG Metals for Progress Roadshow Zürich (virtual) Baader Helvea on April 20th, 2023
Slide 2: Executive summary of first 3 months 2022/23
Executive summary of first 3 months 2022/23 Stable market conditions and solid operative performance led to good three- month figures for FY 2022/23, despite higher energy prices and general cost Operating EBT ROCE inflation 3M 2022/23 of 16.3 % Input-material-related decreased metal result. Metal r
Slide 3: Closing the loop is part of Aurubis' integrated business model
Closing the loop is part of Aurubis’ integrated business model 28 30 34 45 46 47 Ni Zn Se Rh Pd Ag Copper cathodes Concentrates Smelting and Nickel sulfate refining Selenium Sulfuric acid 50 82 79 78 75 52 Sn Pb Au Pt Re Te Further processing Scrap/ intermediates Metals for progress Continuous cast
Slide 4: Increased concentrate throughput and strong product demand
Increased concentrate throughput and strong product demand Change vs. Change vs. FY 2021/22 prior year FY 2021/22 prior year Concentrate processing1 2,429,000 t +8 % Gold 47 t -8 % Copper scrap/ 540,000 t -1 % Silver 911 t -4 % blister copper input2 Other recycling materials2 524,000 t -3 % Lead 44,
Slide 5: Market conditions stable during Q1 2022/23
Market conditions stable during Q1 2022/23 Trend in significant market prices and refining charges 100 % = Sept. 2018 450% 400% Sulfuric acid price (spot CFR Brazil) 350% Copper price (settlement) 300% Exchange rate (US$/€) 250% 200% European refining charges for copper scrap no. 2 150% Copper premi
Slide 6: Aurubis achieved strong 3-month results
Aurubis achieved strong 3-month results 3M 3M Change vs. (operating IFRS) 2022/23 2021/221 prior year Revenues €m 4,096 4,406 -7 % Gross profit €m 393 419 -6 % EBITDA €m 172 210 -18 % EBIT €m 124 163 -24 % EBT €m 125 164 -24 % Consolidated net income €m 99 127 -22 % Operating ROCE (%) 16.3 17.9 - (o
Slide 7: Gross margin for the Group in 2022/23 YTD
Gross margin for the Group in 2022/23 YTD Breakdown of income components in the Aurubis Group 3M 2022/23 YTD (YTD prior-year figures) 30 % (29 %) Treatment charges for concentrate + 39 % (42 %) recycling input Metal result ~ € 540 million* (~ € 545 million*) 31 % (29 %) Premiums + products * Gross m
Slide 8: Increase of overall group costs
Increase of overall group costs Overview of cost/expense positions 3M 2022/23 YTD (YTD prior-year figures) 11 % (11 %) Depreciation and amortization 30 % (33 %) Personnel costs 13 % (12 %) Consumables ~ € 457 million* 12 % (12 %) (~ € 419 million*) External services 18 % (17 %) 16 % (15 %) Other ope
Slide 9: Aurubis' financial position remains strong
Aurubis’ financial position remains strong 3M 3M 2022/23 2021/223 Target ROCE1 % 16.3 17.9 15.0 Equity ratio % 54.5 54.0 > 40.0 (equity / total assets) Debt coverage2 -0.3 -0.4 < 3.0 3M 3M Additional KPIs 2022/23 2021/22 Capital expenditure €m 72 59 Capital employed €m 3.099 2.708 (balance sheet dat
Slide 10: Multimetal Recycling segment
Multimetal Recycling segment Breakdown of income components in MMR segment 3M 2022/23 YTD (YTD prior-year figures) 3M 3M Operating results 2022/23 2021/222 46 % (43 %) Refining charges 49 % (54 %) EBIT €m 34 83 Metal gains for recycling input EBT €m 35 83 ROCE1 % 18.7 37.3 Quantities Copper scrap /
Slide 11: Custom Smelting & Products segment
Custom Smelting & Products segment Breakdown of income components in CSP segment 3M 3M 3M 2022/23 YTD (YTD prior-year figures) Operating results 2022/23 2021/222 EBIT €m 108 93 41 % (42 %) EBT €m 108 94 35 % (35 %) Premiums + ROCE1 % 18.9 12.6 Metal result products Quantities Concentrates mt 635 679
Slide 12: Market outlook for 2022/23
Market outlook for 2022/23 We anticipate an increase in concentrate supply from the mine side, underpinned by Copper new greenfield projects and the expansion of existing mines. concentrates Our smelters are already well supplied into Q3 of FY 2022/23. We expect a stable supply of copper scrap and c
Slide 13: EBT between € 400 million and € 500 million
FY 2022/23 guidance Our forecast range Operating EBT Operating ROCE between € 400 million between 11 % and € 500 million and 15 % Operating EBT Operating ROCE in € million in % Group 400–500 11–15 Multimetal Recycling 100–160 11–15 Custom Smelting & Products 350–410 15–19 Aurubis Roadshow Zürich Apr
Slide 14: 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 15: Growth strategy: CAPEX and EBITDA impact increase significantly
Growth strategy: CAPEX and EBITDA impact increase significantly Short term Medium term Long term Currently approved Medium-term planning (next 4 years) Until 2030 Growth Capex ~€ 1,100 Growth Capex ~€ 280 million are Ambition and scale of our million approved included in the medium-term long-t
Slide 16: Aurubis Richmond, USA - construction work is progressing
Aurubis Richmond, USA - construction work is progressing Aurubis Richmond Module 2 Aurubis Roadshow Zürich April 20th, 2023 16
Slide 17: Aurubis Richmond – leading processor of electronic recycling materials in the US
Aurubis Richmond – the leading processor of electric and electronic recycling materials in the US EBITDA p.a. Pursue Growth Options Investment ~ € 80 million (by 2025/26) ~ € 640 million Aurubis Richmond complements and expands our international integrated smelter ~ € 170 million network with a high
Slide 18: Aurubis Richmond: Expansion of front-runner position in the US recycling market
Aurubis Richmond: Expansion of front-runner position in the US recycling market Augusta, Richmond County, Georgia, USA Started as greenfield project, Aurubis is currently building the largest complex recycling smelter in the United States Plant designed to recycle PCBs, shredder, and other metal-con
Slide 19: Aurubis Richmond: Project timeline
Aurubis Richmond: Project timeline Identified project Site site in Augusta, preparation/ Start of Start of Start of Georgia planning construction commissioning production 2021 2022 2023 2024 2025 2026 Module I Community engagement 2021 2022 2023 2024 2025 2026 Module II Decision/ Start of Start of a
Slide 20: Complex Recycling Hamburg (CRH) – further optimization of smelting process
Secure core business: Complex Recycling Hamburg (CRH) – further optimization of smelting process CRH Aurubis Roadshow Zürich April 20th, 2023 20
Slide 21: CRH: Further optimization of the smelting process in Hamburg
Secure & strengthen core business CRH: Further optimization of the smelting process in Hamburg Secure Strengthen Core Business Core Business Investment EBITDA p.a. ~ € 190 million ~ € 40 million Aurubis is strengthening its core business and investing € 190 million for further (at full production) o
Slide 22: Expanding the tankhouse in Pirdop
Secure & strengthen core business Expanding the tankhouse in Pirdop Aurubis Roadshow Zürich April 20th, 2023 22
Slide 23: Expanding the tankhouse in Pirdop
Secure & strengthen core business Expanding the tankhouse in Pirdop Secure Strengthen Core Business Core Business Investment EBITDA p.a. ~ € 120 million ~ € 30 million Aurubis is strengthening its core business and investing € 120 million in expanding the (at full production) tankhouse at its Bulgar
Slide 24: Sustainability: Energy and decarbonization projects
Sustainability: Energy and decarbonization projects PV Pirdop I-III Aurubis Roadshow Zürich April 20th, 2023 24
Slide 25: Aurubis on its way to carbon-neutral production
Sustainability: Aurubis on its way to carbon-neutral production Optimizing electricity Industry Leadership consumption p.a. in Sustainability Investment ~ 13,500 MWh* +~ € 12 million (since PV 1) Expansion of solar park until 2024 in Pirdop, Bulgaria, with a combined (for 2024 expansion) +~ 17,000 M
Slide 26: Life cycle assessment of our copper cathodes
Sustainability Life cycle assessment of our copper cathodes The CO2 footprint of Aurubis copper production is less than half the global average in kg CO2 eq./t Cu Global average 2013: 2,300 2013: 4,027 2021: 1,460 2019: 3,833 * Source: International Copper Association 2019, Aurubis LCA 2021 Aurubis
Slide 27: Thank you for your participation
Thank you for your participation. For further questions, contact: IR@aurubis.com
Slide 28: Financial calendar
Financial calendar Q2 2022/23 May 11, 2023 Capital Market Day (in London) June 13, 2023 Q3 2022/23 August 7, 2023 Annual Report 2022/23 December 6, 2023 Aurubis Roadshow Zürich April 20th, 2023 28
Slide 29: 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 30: Aurubis at a glance
Based in Hamburg, Aurubis AG The company’s main expertise Aurubis develops its leading market is in optimally processing position with a responsible concentrates and recycling at a glance approach to the environment, raw materials with people, and resources complex qualities The company, which was f
Slide 31: Scheduled shutdowns in the next 3 years
Scheduled shutdowns in the next 3 years EBT effect from scheduled shutdowns (in € million) Status: December 2022 FY 2022/23 FY 2023/24 FY 2024/25 Smelter May/ maintenance ~36 June 2024 Hamburg Smelter May/ May/ maintenance ~20 ~35 June 2023 July 2025 Pirdop Anode Nov./ Nov./ Nov./ furnace ~7 ~8 ~8 D
Slide 32: 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 33: Advanced Sludge Processing by Aurubis (ASPA)
Secure & strengthen core business Advanced Sludge Processing by Aurubis (ASPA) ASPA Aurubis Roadshow Zürich April 20th, 2023 33
Slide 34: 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. ~ € 33 million ~ € 7 million Aurubis is strengthening its core business and taking the next step towards becoming (at full production) the most efficien
Slide 35: Bleed treatment Olen Beerse (BOB) - Increase of nickel capabilities
Secure & strengthen core business Bleed treatment Olen Beerse (BOB) - Increase of nickel capabilities BOB Aurubis Roadshow Zürich April 20th, 2023 35
Slide 36: Bleed treatment Olen Beerse (BOB)
Secure & strengthen core business Bleed treatment Olen Beerse(BOB) Secure Strengthen EBITDA p.a. Core Business Core Business Investment ~ 15 million ~ € 70 million Aurubis is strengthening its core business and investing € 70 million in the Aurubis site in (at full production) Olen to increase recyc
Slide 37: Start of test operation in pilot for battery recycling in Hamburg
Pursue growth options Start of test operation in pilot for battery recycling in Hamburg Battery recycling Aurubis Roadshow Zürich April 20th, 2023 37
Slide 38: Aurubis has developed a novel black mass recycling technology
Pursue growth options Aurubis has developed a novel black mass recycling technology Battery recycling Black mass Sustainably closing Integration into Metal recoveries the loop smelter network beyond regulatory requirements Battery-grade Cost Patent products efficiency application Lithium Nickel Coba
Slide 39: Aurubis contributes to sustainably closing the loop for batteries
Aurubis contributes to sustainably closing the loop for batteries Electric vehicle End-of-life assembly lithium-ion batteries We are the experts Complex raw materials are Cell & battery Collection & our daily business. manufacturing transport We are multimetal Precursor/cathode Discharging & Already
Slide 40: 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