Aurubis Ag · XETR:NDA
Aurubis — Non-Deal Roadshow (May 2023)
45 slides from Aurubis's roadshow presentation, May 25, 2023
Slide 1: Aurubis AG Metals for Progress
Aurubis AG Metals for Progress DZ Bank Company Roadshow May 25th, 2023 Frankfurt
Slide 2: Executive summary of first 6 months 2022/23
Executive summary of first 6 months 2022/23 Aurubis' positive development continues with the second quarter at the very high level of the previous year Operating EBT ROCE 6M 2022/23 of Good concentrate markets and product demand led to good Q2 2022/23 15.6 % figures, despite lower sulfuric acid reve
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: Sulfuric acid stabilizes at lower levels, other market conditions stable
Sulfuric acid stabilizes at lower levels, other market conditions stable Trend in significant market prices and refining charges 100 % = Sept. 2019 450% 400% Sulfuric acid price (spot CFR Brazil) 350% Copper price (settlement) 300% Exchange rate (US$/€) 250% 200% European refining charges for copper
Slide 6: Aurubis with strong Q2 results and increased forecast
Aurubis with strong Q2 results and increased forecast 6M 6M Change vs. (operating IFRS) 2022/23 2021/221 prior year Revenues €m 8,784 9,262 -5 % Gross profit €m 839 857 -2 % EBITDA €m 383 426 -10 % EBIT €m 286 332 -14 % EBT €m 291 331 -12 % Consolidated net income €m 230 257 -11 % Operating ROCE (%)
Slide 7: Gross margin at prior-year level
Gross margin at prior-year level Breakdown of income components in the Aurubis Group 6M 2022/23 YTD (YTD prior-year figures) 31 % (28 %) Treatment charges for concentrate + 34 % (41 %) recycling input Metal gains ~ € 1,121 million* (~ € 1,139 million*) 35 % (31 %) Premiums + Products * Gross margin
Slide 8: Overview of Group costs – energy costs reduced
Overview of Group costs – energy costs reduced Overview of cost/expense positions 6M 2022/23 YTD (YTD prior-year figures) 10 % (10 %) Depreciation and amortization 31 % (32 %) Personnel costs 13 % (12 %) Consumables ~ € 928 million* 13 % (12 %) (~ € 884 million*) External services 18 % (17 %) 15 % (
Slide 9: Aurubis continues to manage energy costs
Aurubis continues to manage energy costs Breakdown of energy costs 6M 2022/23 Electricity incl. oxygen consumption in the (YTD prior-year figures) Aurubis Group: approx. 1.81 TWh (2022)* CO2 emissions of 1.31 million t (2022)* 59 % (75 %) Electricity − 0.52 million t of direct emissions (Scope 1) in
Slide 10: Aurubis' financial position enables our growth strategy
Aurubis’ financial position enables our growth strategy 6M 6M 2022/23 2021/223 Target ROCE1 % 15.6 19.6 15.0 Equity ratio % 53.1 54.0 > 40.0 (equity/total assets) Debt coverage2 -0.2 -0.3 < 3.0 6M 6M Additional KPIs 2022/23 2021/22 Capital expenditure €m 179 120 Capital employed €m 3,253 2,881 (bala
Slide 11: Multimetal Recycling segment
Multimetal Recycling segment Breakdown of income components in MMR segment 6M 2022/23 YTD (YTD prior-year figures) 6M 6M Operating results 2022/23 2021/222 49 % (43 %) Refining charges 44 % (54 %) EBIT €m 102 158 for recycling input Metal gain EBT €m 103 158 ROCE1 % 15.5 44.4 Quantities Copper scrap
Slide 12: Custom Smelting & Products segment
Custom Smelting & Products segment Breakdown of income components in CSP segment 6M 6M 6M 2022/23 YTD (YTD prior-year figures) Operating results 2022/23 2021/222 24 % (21 %) Treatment charges EBIT €m 220 205 for concentrate + 30 % (35 %) EBT €m 223 205 recycling input Metal gain ROCE1 % 19.1 13.7 Qu
Slide 13: Promising market outlook for 2022/23
Promising 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 Q4 of FY 2022/23. We expect a stable supply of copper s
Slide 14: EBT between € 450 million and € 550 million
FY 2022/23 guidance Our forecast range Operating EBT Operating ROCE between € 450 million between 14 % and € 550 million and 18 % Operating EBT Operating ROCE in € million in % Group 450–550 14–18 Multimetal Recycling 110–170 13–17 Custom Smelting & Products 390–450 18–22 Aurubis DZ Bank Company Roa
Slide 15: 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 16: 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 17: Timeline of strategic projects in implementation
Timeline of strategic projects in implemetation Commissioning − BOB (BE Olen) Start of Start of construction − Industrial Heat construction − Solar Park (BG Pirdop) (DE Hamburg) Commissioning − CRH − Expansion Tankhouse − Aurubis Richmond − Aurubis Richmond (DE Hamburg) (BG Pirdop) Module 1 (US Geor
Slide 18: Growth options Aurubis Richmond, US – construction work is progressing
Growth options Aurubis Richmond, US – construction work is progressing Aurubis DZ Bank Company Roadshow May 2023, Frankfurt 18
Slide 19: 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 20: 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 21: Secure core business: Complex Recycling Hamburg (CRH)
Secure core business: Complex Recycling Hamburg (CRH) – further optimization of smelting process CRH Aurubis DZ Bank Company Roadshow May 2023, Frankfurt 21
Slide 22: 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 23: Expanding the tankhouse in Pirdop
Secure & strengthen core business Expanding the tankhouse in Pirdop Aurubis DZ Bank Company Roadshow May 2023, Frankfurt 23
Slide 24: 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 25: Advanced Sludge Processing by Aurubis (ASPA)
Secure & strengthen core business Advanced Sludge Processing by Aurubis (ASPA) ASPA Aurubis DZ Bank Company Roadshow May 2023, Frankfurt 25
Slide 26: 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 27: Bleed treatment Olen Beerse (BOB) – Construction kick-off
Secure & strengthen core business Bleed treatment Olen Beerse (BOB) – Construction kick-off BOB Aurubis DZ Bank Company Roadshow May 2023, Frankfurt 27
Slide 28: 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 29: Growth options Battery Recycling
Growth options Battery Recycling Aurubis DZ Bank Company Roadshow May 2023, Frankfurt 29
Slide 30: 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 31: 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 32: Renowned ratings show strong track record in sustainability
Renowned ratings show strong track record in sustainability Aurubis’ main sustainability ratings & initiatives * * Copyrights in the back-up Score A- Climate change (2022) Score B Water Security (2022) * * Copyrights in the back-up Aurubis DZ Bank Company Roadshow May 2023, Frankfurt 32
Slide 33: The Copper Mark – Aurubis Bulgaria, Hamburg and Lünen smelter certified!
The Copper Mark – Aurubis Bulgaria, Hamburg and Lünen smelter certified! − The Copper Mark launched for copper producers in March 2020 − Basis: UN SDGs & Risk Readiness Assessment − Review of the 32 sustainability criteria − Focus on steady improvement of the sector − Joint Due Diligence Standard en
Slide 34: Six decisive KPIs underline Aurubis' ambitions in sustainability
Six decisive KPIs underline Aurubis’ ambitions in sustainability CO2 emissions Scope 1+2 CO2 emissions Scope 3 Air emissions (dust) Absolute Scope 1+2 CO2 emissions (in kt) Scope 3 CO2 emissions (in kt)1 Air emissions (in g per t of multimetal Cu equivalent)2 1 2 3 1,600 6,502 56.5 4,942 -50% 800 -2
Slide 35: 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 36: Sustainability: Energy and decarbonization projects
Sustainability: Energy and decarbonization projects PV Pirdop I-III Aurubis DZ Bank Company Roadshow May 2023, Frankfurt 36
Slide 37: Aurubis on its way to carbon-neutral production
Sustainability: Aurubis on its way to carbon-neutral production Optimizing electricity Industry Leadership Investment consumption p.a. in Sustainability ~ 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 38: Germany's largest industrial heating project
Sustainability Germany's largest industrial heating project Industry Leadership in Sustainability EBITDA p.a. Investment (at full production) ~ € 97 million ~ € 3 million The industrial heating project to supply heat to the HafenCity East district with a savings potential of up to 20,000 t of CO2 p.
Slide 39: Thank you for your participation.
Thank you for your participation. For further questions, contact: IR@aurubis.com
Slide 40: Financial calendar
Financial calendar − Capital Market Day (in London) June 13, 2023 − Q3 2022/23 August 7, 2023 − Annual Report 2022/23 December 6, 2023 Aurubis DZ Bank Company Roadshow May 2023, Frankfurt 40
Slide 41: 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 42: Aurubis at a glance
Based in Hamburg, Aurubis AG The company’s main expertise Aurubis develops its leading market is in optimally processing at a glance position with a responsible approach to the environment, concentrates and recycling raw materials with people, and resources complex qualities The company, which was f
Slide 43: Maintenance shutdowns in the next 3 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 44: 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 45: 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