Slide 1: Q1 2024 Results Presentation
1 < Q1 2024 Results Presentation
Slide 2: Disclaimer
Q1 2024 RESULTS PRESENTATION 2 Disclaimer This document may contain forward looking information and statements about ACERINOX, S.A., its subsidiaries and/or its management, including but not limited to financial projections and estimates and their underlying assumptions, and statements regarding the
Slide 3: Q1 2024 at a glance
Q1 2024 RESULTS PRESENTATION 3 Q1 2024 at a glance Satisfactory Q1 EBITDA of €111 million, despite challenging conditions Strong cash generation of €188 million, supported by inventory reduction Net debt at €234 million, 31% lower than that of Q4 2023 Outlook: We expect Q2 EBITDA to be slightly high
Slide 4: Contribution to circular economy and sustainable development
208 Q1 2024 RESULTS PRESENTATION 4 Contribution to circular economy and sustainable development 2030 sustainability targets 360º Positive Impact Plan Eco-efficiency Engaged team, and Most significant culture, diversity, climate change sustainability initiatives and safety mitigation in Q1 2024 GHG emi
Slide 5: Q1 2024: Market Highlights
Q1 2024 RESULTS PRESENTATION 5 Q1 2024: Market Highlights STAINLESS STEEL Apparent demand of flat products up 8% in 2024 through February USA Inventories below historical average Imports of flat products market share: 25% in 2024 through February Apparent demand of flat products down 4% through Februar
Slide 6: Q1 2024: Consolidated group highlights
Q1 2024 RESULTS PRESENTATION 6 Q1 2024: Consolidated group highlights Q1 Q1 % Q1 24 / Q4 % Q1 24 / 2024 2023 Q1 23 2023 Q4 23 Melting production 461 534 -14% 486 -5% (thousands of metric tons) Net sales 1,481 1,782 -17% 1,529 -3% Q1 2024 EBITDA: EBITDA 111 226 -51% 96 15% €111 million EBITDA margin
Slide 7: Q1 2024: Stainless steel highlights
Q1 2024 RESULTS PRESENTATION 7 Q1 2024: Stainless steel highlights Million EUR Q1 Q1 % Q1 24 Q4 % Q1 24 2024 2023 / Q1 23 2023 / Q4 23 Melting production 440 515 -15% 468 -6% (thousands of metric tons) Q1 results impacted Net sales 1,109 1,476 -25% 1,166 -5% by the strike at Acerinox Europa EBITDA 8
Slide 8: Q1 2024: High-performance-alloys highlights
Q1 2024 RESULTS PRESENTATION 8 Q1 2024: High-performance-alloys highlights Million EUR Q1 Q1 % Q1 24 / Q4 % Q1 24 / 2024 2023 Q1 23 2023 Q4 23 Melting production Q1 EBITDA: (thousands of metric tons) 21 19 9% 18 14% €31 million Net sales 378 305 24% 366 3% EBITDA 31 29 7% 46 -33% Operating working c
Slide 9: Q1 2024: Capital allocation
Q1 2024 RESULTS PRESENTATION 9 Q1 2024: Capital allocation Q1 Million EUR Q1 Highlights Solid operating cash flow (OCF): €188 million Dividend payment in Q1: €77 million Strong debt reduction: €107 million ACERINOX 2020 RESULTS PRESENTATION
Slide 10: Acerinox strategy: A new platform in the USA
Q1 2024 RESULTS PRESENTATION 10 Acerinox strategy: A new platform in the USA ✓ USA antitrust: Approved ✓ Haynes special shareholders’ meeting: Approved Other regulatory approval: Pending 1 Strengthening leadership Deal expected to close: Q3 2024 in Alloys Strengthening leadership in America Strength
Slide 11: Conclusions & outlook
Q1 2024 RESULTS PRESENTATION 1111 Conclusions & outlook 01 02 03 Acerinox obtained Increased shareholder return a satisfactory EBITDA Strong cash generation: to €0.62 per share in 2024 in Q1 2024 Net financial debt €234 million (6% dividend yield as of today) 04 05 06 Stainless: Update on Haynes acqu
Slide 12: Alternative Performance Measures (Definitions)
Q1 2024 RESULTS PRESENTATION 12 Alternative Performance Measures (Definitions) Beyond Excellence: Operational excellence program for 2024 to 2026. These initiatives will be based on digital transformation, interdisciplinary collaboration, and a commitment to innovation Excellence 360º Plan: Estimated
Slide 13: Q&A Q1 2024 Results Presentation
13 < Q&A Q1 2024 Results Presentation