Aurubis Ag · XETR:NDA
Aurubis — Shareholder Meeting (February 2019)
28 slides from Aurubis's shareholder meeting presentation, Feb 28, 2019
Slide 1: Aurubis AG Annual General Meeting
Aurubis AG Annual General Meeting Hamburg, February 28, 2019 ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 2: 2017/18 was a very successful year for Aurubis AG
2017/18 was a very successful year for Aurubis AG ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 3: Fiscal year 2017/18 in figures
Fiscal year 2017/18 in 3 figures FY FY Change 2017/18 2016/17 Operating EBT (€ million) 329 298 +10 % Operating consolidated 265 236 +12 % net result (€ million) Operating ROCE (%) 14.8 15.1 - (operating EBIT last 4 quarters) ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 4: The copper concentrate market was influenced by a constantly high supply in 2018
The copper concentrate market was influenced by a constantly high supply in 2018 Treatment charge development for copper concentrates Annual TCs (in US$/t, clean concentrate) 110 90 70 50 2014 2015 2016 2017 2018 2019 ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 5: Refining charges for copper scrap in 2018 remained at a good level
Refining charges for copper scrap in 2018 remained at a good level European refining charges for copper scrap (in €/t Cu) 600 450 300 150 0 Oct 14 Oct 15 Oct 16 Oct 17 Oct 18 ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 6: A large portion of Aurubis’ income is based on the US dollar
A large portion of Aurubis’ income is based on the US dollar Exchange rate (in US$/€) 1,30 1,25 1,20 1,15 1,10 1,05 1,00 Oct 14 Oct 15 Oct 16 Oct 17 Oct 18 ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 7: Aurubis copper premium stable in 2018 and US$ higher for 2019
Aurubis copper premium stable in 2018 and US$ 10 higher for 2019 European copper premium (in US$/t) 120 110 100 92 96 86 86 80 60 40 20 0 2015 2016 2017 2018 2019 ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 8: Stronger demand for copper products than in the previous year
Stronger demand for copper products than in the previous year ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 9: We produce a number of other metals apart from copper, as well as sulfuric acid
We produce a number of other metals apart from copper, as well as sulfuric acid ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 10: Investments in forward-looking projects and a solid financing structure
Investments in forward-looking projects and a solid financing structure FY FY 2017/18 2016/17 Capital expenditure (including 182 175 finance leases) (€ million) Equity ratio (equity / total 55.5 % 52.5 % liabilities) Net surplus financial funds 165 220 (€ million) ANNUAL GENERAL MEETING 2019 – 2/28/
Slide 11: Executive Board and Supervisory Board suggest a 7% higher dividend of €1.55 per share
Executive Board and Supervisory Board suggest a 7 % higher dividend of € 1.55 per share Aurubis dividend (in € per share) Dividend yield (in %) 1,55 2,6 2,6 2,5 1,45 2,4 1,35 1,25 2,1 1,00 13/14 14/15 15/16 16/17 17/18* 13/14 14/15 15/16 16/17 17/18* * Recommendation ANNUAL GENERAL MEETING 2019 – 2/
Slide 12: Development of Aurubis share price
Development of Aurubis share price Closing price of Aurubis shares Comparison of Aurubis shares with indices (Xetra) (9/30/2017 = 100 %) 200 days’ average 150% 80 € Aurubis DAX MDAX STOXX 600 125% 60 € 100% 40 € 75% 20 € Market capitalization on 2/27/2019: ca. € 2.2 billion 50% 0€ 10/17 10/18 1/18 4
Slide 13: Despite unscheduled shutdowns – currently better than ever in plant availability
Despite unscheduled shutdowns – we are currently better than ever when it comes to plant availability ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 14: Aurubis AG Annual General Meeting
Aurubis AG Annual General Meeting Hamburg, February 28, 2019 ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 15: Our mission and vision: Corporate purpose and ambition for the future
OUR MISSION AND VISION: Corporate purpose and ambition for the future ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 16: Our Strategy
OUR STRATEGY: ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 17: Efficiency improvement program: currently ahead of schedule
Efficiency improvement program: currently ahead of schedule 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 ahead of schedule, but we maintain our objectiv
Slide 18: Aurubis Operating System (AOS) – Our program for continuous improvement
Aurubis Operating System (AOS) – Our program for continuous improvement Example from production Focus Improvement Training & Independent Production Education Teams Progressive Maintenance Quality Program ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 19: Project Future Complex Metallurgy (FCM)
Project Future Complex Metallurgy (FCM) New facilities are being built in Hamburg and Olen: » Cell furnace, leaching, and an electro- winning plant » Capex: ~€ 320 million (PFS) Additional material input: » 270,000 t of concentrates, recycling materials, and intermediates from other smelters EBITDA
Slide 20: Aurubis acquires Codelco’s shares in Deutsche Giessdraht
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. » On July 13, 2018, the German Federal Cartel Office appr
Slide 21: 60 years of Aurubis Bulgaria – Site successfully integrated into the Aurubis Group
60 years of Aurubis Bulgaria – Site successfully integrated into the Aurubis Group ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 22: Following prohibition of the sale, Aurubis reviewing alternatives for Segment FRP
Following prohibition of the sale, Aurubis is now reviewing other strategic alternatives for Segment FRP » 2/12/2018: Term sheet » 3/29/2018: Purchase agreement » 8/1/2018: Review by the antitrust authorities enters phase 2 » 2/6/2019: European Commission prohibits sale ANNUAL GENERAL MEETING 2019 –
Slide 23: Our Strategy
OUR STRATEGY: ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 24: The Sustainability Strategy describes the relevant activities for the coming years
The Sustainability Strategy describes the relevant activities for the coming years Aurubis Sustainability Strategy » 2018-2023 » Interplay between economy, environment, and people » 9 action areas » 9 targets » 27 measures ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 25: The largest industrial heat project in Germany has become a reality
The largest industrial heat project in Germany has become a reality ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 26: Forecast for 2018/19: Operating EBT moderately lower than prior year due to shutdowns
Forecast for 2018/19: Operating EBT moderately lower than the very good prior-year level due to shutdowns Overall, we expect moderately lower operating EBT and a slightly lower operating ROCE for the Aurubis Group in fiscal year 2018/19 compared to the previous fiscal year. Aurubis definition for a
Slide 27: Aurubis AG Annual General Meeting
Aurubis AG Annual General Meeting Hamburg, February 28, 2019 ANNUAL GENERAL MEETING 2019 – 2/28/2019
Slide 28: 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