Aurubis Ag · XETR:NDA
Aurubis — Twelfth German Corporate Conference 2023
30 slides from Aurubis's conference presentation, Sep 20, 2023
Slide 1: Aurubis AG Metals for Progress
Aurubis AG Metals for Progress Twelfth German Corporate Conference 2023 Munich – Berenberg & Goldman Sachs September, 20th 2023
Slide 2: Aurubis: We are experts for metals
Aurubis: We are experts for metals. Successful in > 7,100 x passion and 157 years engagement 20 countries on of experience in the production of non- 3 continents ferrous metals about 1 million t One of the 20 worldwide leading of recycling materials different metals companies in are processed by Aur
Slide 3: Aurubis production & sales footprint
Aurubis production & sales footprint Headquarters Primary Copper Recycling/Precious Metals Copper Products Aurubis operates a closely linked network of 6 key plants in Europe with a focus on smelting and refining primary and recycling raw materials Furthermore, Aurubis operates a network of 8 plants
Slide 4: 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 5: 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 6: Aurubis' strong financial position enables our growth strategy
Aurubis’ strong financial position enables our growth strategy 9M 9M 2022/23 2021/223 Target ROCE1 % 15.1 17.1 15.0 Equity ratio % 57.5 54.0 > 40.0 (equity/total assets) Debt coverage2 0.0 -0.2 < 3.0 9M 9M Additional KPIs 2022/23 2021/22 Capital expenditure €m 374 225 Capital employed €m 3,457 2,980
Slide 7: Multimetal Recycling segment
Multimetal Recycling segment Breakdown of income components in MMR segment 9M 2022/23 YTD (YTD prior-year figures) 9M 9M Operating results 2022/23 2021/222 47 % (43 %) RCs for recycling 45 % (53 %) EBIT €m 141 186 Metal result materials EBT €m 143 186 ROCE1 % 15.8 35.5 Quantities Copper scrap/bliste
Slide 8: Custom Smelting & Products segment
Custom Smelting & Products segment Breakdown of income components in CSP segment 9M 9M 9M 2022/23 YTD (YTD prior-year figures) Operating results 2022/23 2021/222 EBIT €m 314 294 48 % (48 %) EBT €m 322 290 28 % (33 %) Premiums + ROCE1 % 17.5 13.3 Metal result products Quantities Concentrates mt 1,705
Slide 9: EBT between € 310 million and € 350 million
Updated guidance for FY 2022/23 after suspension on August 31st, 2023 Our forecast range Operating EBT Operating ROCE between € 310 million between 8 % and € 350 million and 12 % Operating EBT Operating ROCE in € million in % Group 310 – 350 8–12 Multimetal Recycling – – Custom Smelting & Products –
Slide 10: 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 11: 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 ~€ 1,150 million Growth capex ~€ 280 million is Ambition and scale of our long-term approved included in the medium-term pla
Slide 12: Strong pipeline features advanced projects included in medium-term planning
Strong pipeline features advanced projects included in medium-term planning, plus wealth of nascent concepts to drive sustainable growth Strategic projects from development to implementation Research & Concept Basic Without status Feasibility In implementation ideation development engineering Indust
Slide 13: Expanding our flowsheet with additional smelting furnaces and processes
Expanding our flowsheet with additional smelting furnaces and processes to drive multimetal growth strategy Input materials Smelting Refining Multimetal Cu concentrates HH HH » Cu ̶ Cu processing ̶ Ol Cu/CuNi Pir ̶ HH » Ag Primary HH CuNi electrolyte ̶ PM/Ni ̶ tankhouse Lue Pir » Au sites Pir ̶ repr
Slide 14: Timeline of strategic projects in implementation
Timeline of strategic projects in implementation Commissioning Blead treatment Olen Beerse (BOB) Start of construction Start of construction (BE Olen) Complex Recycling Solar Park (BG Pirdop) Industrial Heat (DE Hamburg) Commissioning Hamburg (CRH) Tankhouse Expansion Aurubis Richmond Module 1 Aurub
Slide 15: Accumulated EBITDA to rapidly overcompensate investments
Accumulated EBITDA to rapidly overcompensate investments Growth investments to be translated into profits Capex & EBITDA contribution from 8 strategic projects (in € million) − Investing around € 1.2 billion in strategic growth options ~1,340 − Rapid payback: accumulated EBITDA of € 1.3 billion Grow
Slide 16: Growth options Aurubis Richmond, US – construction work is progressing
Growth options Aurubis Richmond, US – construction work is progressing 08/23/2023 Aurubis Twelfth German Corporate Conference 2023
Slide 17: Aurubis Richmond – the leading processor of electric and 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: Secure core business: Complex Recycling Hamburg (CRH)
Secure core business: Complex Recycling Hamburg (CRH) – further optimization of smelting process CRH Aurubis Twelfth German Corporate Conference 2023
Slide 19: 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 20: Expanding the tankhouse in Pirdop
Secure & strengthen core business Expanding the tankhouse in Pirdop Aurubis Twelfth German Corporate Conference 2023
Slide 21: 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 22: Our KPIs underline our sustainability ambitions and demonstrate momentum
Our KPIs underline our sustainability ambitions and demonstrate momentum Absolute Scope 1+2 CO2 emissions Scope 3 CO2 emissions Air emissions (dust) (in kt) (in kt)1 (in g per t of multimetal Cu equivalent)2 56.5 1,600 6,502 6,181 48.0 1,310* 4,942 40.1 1 2 3 800 2018 2022 2030 2018 2021 2030 2018 2
Slide 23: Leading the way with life cycle assessments
Leading the way with life cycle assessments – and substantially lower carbon footprints than industry averages CO2 footprint of Aurubis metals vs. global industry average 2020: 6,632 Copper cathodes Tin in kg CO2 eq./t Cu in kg CO2 eq./t 2021: 1,570 Global industry average Aurubis 2013: 4,027 2013:
Slide 24: Thank you for your participation.
Thank you for your participation. For further questions, contact: IR@aurubis.com
Slide 25: Your IR contacts
Your IR contacts Angela Seidler Elke Brinkmann Ferdinand von Oertzen VP Investor Relations & Head of Investor Relations Senior Manager Investor Relations Corporate Communications +49 40 7883-2379 +49 40 7883-3179 +49 40 7883-3178 e.brinkmann@aurubis.com f.vonoertzen@aurubis.com a.seidler@aurubis.com
Slide 26: Financial calendar
Financial calendar − 2022/23 Annual Report December 6, 2023 − AGM February 15, 2024 Aurubis Twelfth German Corporate Conference 2023
Slide 27: Maintenance shutdowns in the next years
Maintenance shutdowns in the next 3 years EBT effect from maintenance shutdowns (in € million) 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 Dec 2022 Dec 2023 Dec
Slide 28: 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 29: 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 30: 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