Acerinox Sa · BME:ACX
Acerinox Sa — FY2021 Earnings Presentation
21 slides from Acerinox Sa's earnings presentation, Feb 28, 2022
Slide 1: FY 2021 Results Presentation
FY 2021 Results Presentation 28 February 2022 1
Slide 2: Disclaimer
FY 2021 Results Presentation This document may contain forward-looking information and statements about ACERINOX, S.A., its subsidiaries and/or its management. These forward-looking statements include financial projections and estimates and their underlying assumptions, and statements regarding the
Slide 3: FY 2021 objectives achieved; key figures
FY 2021 Results Presentation Million EUR • We achieved the objectives we set for 2021 completely Melting production 19% (Thousand Mt) 2,619 2,196 • New record in Melting production Net Sales 6,706 4,668 44% Adjusted EBITDA 989 398 149% • EBITDA was at an all time record at 989 million EUR Adjusted E
Slide 4: Global presence, diversity and sustainable financing
FY 2021 Results Presentation Global presence, diversity and quality employment Sustainable financing 465 Million EUR Total financing through green and Labour Rights 8,206 sustainable loans 5 employees continents 97% Permanent term Human Rights contracts Board of Directors Tax responsible action 66.7
Slide 5: Safety our number 1 priority
FY 2021 Results Presentation Committed to SAFETY the long-term, our number 1 priority 2030 objectives Lost Time Injury Frecuency Rate LTIFRx1.000k reduction -31.82% in 2021 Hard-to-abate, A reference in circular economy ready to adapt product 100% recyclable Materials recycled: Efficiency at all lev
Slide 6: 5 Strategic Pillars and Long Term Goals
FY 2021 Results Presentation The Sustainability Plan is structured on 5 Strategic Pillars, 15 Lines of Action, and 6 Long Term Goals (2030) as follows: 5 Strategic Pillars Long Term Goals Pillars 2030 Ethical, Responsible Eco-Efficiency & 20% Reduction 20% Reduction & Transparent Fight Against Carbo
Slide 7: Strategic priorities for the new strategic plan
To become a global supplier Continued and Running the business to To generate the Optimise capital allocation that responds to present ongoing review of all maximise profitability and maximum possible free between the existing and future needs with the parts of the business accelerate the integrat
Slide 8: Proud of the results obtained; main challenges
FY 2021 Results Presentation Main challenges: Were negotiated with In a flexible manner, we We achieved production • Strikes in Spain We focused intensely on each client individually adapted to the needs of records with 20% less • Lockdown in securing our most essential to prioritize the needs of ou
Slide 9: Market Highlights
FY 2021 Results Presentation Market Highlights Flat products apparent demand increased +20% Jan-Dec Cost inflation impacted right through the value - Inventories remained below average chain Prices increased Imports increased Complex market - Section 232 adjusted for EU and Japan Solid stainless dem
Slide 10: 12M 2021 results and December results
FY 2021 Results Presentation 12M 2020 12M 2021 12M 2020 % 12M 21 / 12M 20 12M 2021 % 12M 21 / 12M 20 (1) Million EUR Million EUR Melting shop production Melting shop production 2,541 2,144 18% 78 64 22% (thousands of tonnes) (thousands of tonnes) Net sales 5,900 4,055 45% Net sales 806 748 8% Adjust
Slide 11: Acerinox Highlights: Strong Performance in Profitability and Cashflow
FY 2021 Results Presentation Acerinox Highlights Strong Performance in Profitability and Cashflow • All operating units performed well in Q4 2021 Production (thousand Mt) 627 648 614 -3% 2% • Q4 melting production Net Sales 1,937 1,703 1,217 14% 59% • Only -3% QoQ EBITDA 318 293 131 8% 142% • +2% Yo
Slide 12: Q4 saw ongoing quarterly growth in EBITDA
FY 2021 Results Presentation Million EUR Q4 saw ongoing quarterly growth in EBITDA 318 293 217 161 16% EBITDA margin 131 90 97 103 85 87 74 80 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 12
Slide 13: 2021: We focused on performance
FY 2021 Results Presentation 2021 : We focused on performance Million EUR Melting production 608 629 601 -3% 1% NAS remained the outstanding performer (thousand Mt) Net sales 1,709 1,493 1,067 15% 60% EBITDA 303 272 116 11% 162% Recovery in Acerinox Europa despite EBITDA margin 18% 18% 11% energy pr
Slide 14: Good level of activity
FY 2021 Results Presentation Million EUR Good level of activity Melting production (thousand Mt) 19 19 13 1% 53% Net sales 227 211 150 8% 52% EBITDA 14 (*) 21 15 -31% -7% Q4 EBITDA normalized at pre COVID level EBITDA margin 6% (*) 10% 10% but includes adjustments of -7 million EUR Amortization and
Slide 15: Operating cash flow outstanding against NWC headwind
FY 2021 Results Presentation Million EUR Operating cash flow of 388 million EUR was outstanding against a headwind of 460 318 million EUR NWC build in 2021 Q4 operating cash flow of 204 million EUR Capital allocation • Prudent capex policy maintained with FY capex 90 million EUR • Capital allocation
Slide 16: Mission, vision and values
FY 2021 Results Presentation To create the most appropriate high performance materials for each application, thus contributing to the progress and quality of life of a Safety Sustainability Employer of choice sustainable society. To become a global supplier that responds to present and future needs
Slide 17: FY 2021 Results Presentation on track Awarded with the
FY 2021 Results Presentation on track Awarded with the reduction of Supplier received Use from of 465 million € Creation of Targeting Committed to initiatives (through the cycle) return solutions with our customers 17
Slide 18: Safety
FY 2021 Results Presentation Safety EBITDA Margin NFD/EBITDA Savings E360º Integration Synergies 18 ACERINOX 2020 RESULTS PRESENTATION
Slide 19: FY 2021 Results Presentation ACERINOX 2020 RESULTS PRESENTATION
FY 2021 Results Presentation 1919 ACERINOX 2020 RESULTS PRESENTATION
Slide 20: Definitions of alternative performance measures
FY 2021 Results Presentation • Excellence 360º Plan: estimated efficiency savings for the 2019-2023 period • LTIFR, Lost time Injury frequency rate: (No of accidents with sick leave / No. of hours worked ) * 1,000,000 • Operating Working Capital: Inventories + Trade receivables – Trade payables • Ne
Slide 21: 28 February 2022
FY 2021 Results Presentation 28 February 2022 21