Slide 1: Interim Report First 3 Months 2020/21 Analyst Conference Call
Interim Report First 3 Months 2020/21 Analyst Conference Call on February 5, 2021
Slide 2: Executive summary of Q1 2020/21
Executive summary of Q1 2020/21 » First quarter closed with a very good Q1 result » Operating EBT of € 82 million (PY: € 31 million) » ROCE of 9.6 % (PY: 7.6 %) » Good operating performance of our plants » Net cash flow at € -273 million (PY: € -93 million) » Positive development of market condition
Slide 3: Earnings figures reflect good operating performance
Earnings figures reflect good operating performance 3M 3M Change vs. prior (operating IFRS) 2020/21 2019/20 year Revenues €m 3,463 2,709 28 % Gross profit €m 334 263 27 % EBITDA €m 131 71 85 % EBIT €m 85 33 >100 % EBT €m 82 31 >100 % Consolidated net income €m 63 24 >100 % Operating ROCE (%) 9.6 7.6
Slide 4: Market conditions in Q1 2020/21: Very promising scrap markets
Market conditions in Q1 2020/21: Very promising scrap markets, strong demand for copper products Trend in significant market prices and refining charges 160% 100 % = Sept. 2018 140% European refining charges for copper scrap no. 2 120% Copper premium 100% Exchange rate (US$/€) 80% TC/RCs for copper
Slide 5: Strong development of multi-metal prices
Strong development of multi-metal prices 250% 100 % = Sept. 2018 225% Palladium 200% Silver 175% Gold 150% Copper 125% Platinum 100% Zinc 75% 50% Jul 19 Jul 20 Okt 18 Apr 19 Okt 19 Apr 20 Okt 20 Jan 19 Jan 20 5 February 2020
Slide 6: Strong increase in TC benchmark levels expected
Strong increase in TC benchmark levels expected – current TC levels are unsustainable for the primary Cu smelter industry Treatment charge forecast (US$/t of Cu concentrate) Smelter cost curve – net cash cost CRU Wood Mackenzie Capacity below benchmark Capacity above benchmark 110 500 100 400 Net ca
Slide 7: Key performance indicators provide room for future growth
Key performance indicators provide room for future growth 3M 3M Target 2020/21 2019/20 ROCE* % 9.6 7.6 15.0 Equity ratio % 47.9 53.7 > 40.0 (equity / total assets) Debt coverage** 0.9 0.1 < 3.0 3M 3M Additional KPIs 2020/21 2019/20 Capital expenditure €m 36 61 Capital employed €m 3,120 2,633 (balanc
Slide 8: Segment MRP: Good operating performance combined with favorable market conditions
Segment MRP: Good operating performance combined with favorable market conditions Operating results for Segment Metal Refining & Processing (MRP) (first 3 months FY 2020/21) 3M 3M Segment MRP 2020/21 2019/20 » Scrap markets show significantly higher RCs for copper scrap and recycling materials compa
Slide 9: Segment FRP: Good recovery of product demand
Segment FRP: Good recovery of product demand Operating results for Segment Flat Rolled Products (FRP) (first 3 months FY 2020/21) 3M 3M » Significantly higher sales volumes in what is Segment FRP 2020/21 2019/20 otherwise the seasonally weakest quarter EBIT (in €m) 0 -1 » Good recovery of demand for
Slide 10: Well on track with the efficiency improvement/cost reduction program
Well on track with the efficiency improvement/cost reduction program We have a clear objective: We want to become the most efficient and sustainable integrated smelter network worldwide. Focus on efficiency Ideas will be adjusted and transferred Focus on cost reduction SG&A Full Expanded Non-Metal P
Slide 11: Market outlook for 2020/21
Market outlook for 2020/21 Copper price January Reuters poll: Precious metal Copper: US$ 7,648/t (2021) and US$ 7,664/t (2022) prices Gold: US$ 1,948/oz (2021), Silver: US$ 25.86/oz (2021) Copper We anticipate an increasing concentrate supply. concentrates Our smelters are well supplied until Q3 202
Slide 12: FY 2020/21 forecast – update on January 21, 2021
FY 2020/21 forecast – update on January 21, 2021 We increased our forecast range to an operating EBT between € 270 million and € 330 million and an operating ROCE between 9 % and 12 % for fiscal year 2020/21. Interval forecast Operating EBT Operating ROCE in € million in % Group 270 – 330 9 – 12 Seg
Slide 13: Strategic perspective: Most efficient and sustainable smelter network worldwide
Strategic perspective: “Most efficient and sustainable smelter network worldwide” Aurubis growth focus in the processing of recycling materials » Footprint expansion into new secondary/recycling markets and material groups » Integration of Metallo into the Aurubis Group and optimization of Group-wid
Slide 14: Sustainability is a fundamental component of the Aurubis strategy
Sustainability is a fundamental component of the Aurubis strategy and our efforts are positively recognized by various ratings Aurubis Sustainability Strategy 2018-2023, main sustainability ratings & initiatives * * Score A- (2020) * Copyrights on slide 26 February 2020 14
Slide 15: Example for further reduction of diffuse emissions
Example for further reduction of diffuse emissions (RDE) » Major investment in Hamburg of about € 100 million in suctioning devices and filter facilities » Expected reduction of more than 70 % in diffuse emissions February 2020 15
Slide 16: Major CO2 reductions only possible through use of green electricity
Major CO2 reductions in electricity-consuming assets only possible through use of green electricity Breakdown of energy costs in the Aurubis Group Electricity consumption and CO2 scopes (3M 2021/20) Oxygen 19 % » Total electricity consumption in the Aurubis Group: Electricity approx. 1.78 million MW
Slide 17: Aurubis is a global leader in decarbonization
Aurubis is a global leader in decarbonization – with nearly half the global average CO2 footprint – and continues to extend its lead 300 kg of further Decarbonization enabled through CO2 savings potential innovation at Aurubis: per t of copper remains » District heating part 1 in Hamburg (20,000 t C
Slide 18: Example for further CO2 reductions: Substitution of natural gas with hydrogen
Example for further CO2 reductions: Substitution of natural gas – use of hydrogen in anode furnace » Use of hydrogen as a reducing agent in the anode furnace » Trial on an industrial scale is planned to take place in June 2021 » Goal of exploring the increased efficiency of hydrogen in the reduction
Slide 19: Annual General Meeting on February 11, 2021
Annual General Meeting on February 11, 2021 Aurubis dividend (in € per share) 1.55 1.45 1.25 1.25 1.30 » First virtual Annual General Meeting on February 11, 2021 » The proposed dividend for shareholders is € 1.30 per share » Link for the AGM: › https://www.aurubis.com/agm › http://www.aurubis.com/h
Slide 20: Vision 2025 – Metals for Progress
VISION Ps Passion for metallurgy 2025 VISION 2025 Metals. for progress VISION Together with you 2025 AAurubis Metals for Progress
Slide 21: Your IR Contacts
Your IR Contacts Angela Seidler Elke Brinkmann VP Investor Relations & Senior Manager Corporate Communications +49 40 7883-2379 +49 40 7883-3178 e.brinkmann@aurubis.com Financial Calendar a.seidler@aurubis.com » Virtual AGM February 11, 2021 » Q2 2020/21 May 10, 2021 Ferdinand von Oertzen » Q3 2020/
Slide 22: Aurubis at a glance
Aurubis at a glance Company highlights » Based in Hamburg, Aurubis AG develops its leading market position with a responsible approach to the environment, people, and resources » The company’s main expertise is in optimally processing concentrates and recycling raw materials with complex qualities »
Slide 23: 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 24: Scheduled shutdowns in the next years
Scheduled shutdowns in the next 3 years Status: November 2020 FY 2020/21 FY 2021/22 FY 2022/23 Hamburg › Anode furnace › Smelter maintenance Jun. 2021 May/Jun. 2022 EBT effect approx. € 6 million EBT effect approx. € 25 million Pirdop › Smelter maintenance › Smelter maintenance Aug./Sep. 2021 › Aug.
Slide 25: 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
Slide 26: Reporting disclaimer
Reporting disclaimer Copyrights Sustainalytics: Copyright ©2020 Sustainalytics. All rights reserved. This [publication/ article/ section] contains information developed by Sustainalytics (www.sustainalytics.com).Such information and data are proprietary of Sustainalytics and/or its third party suppl