11/07/2024 - Aurubis AG: Aurubis presentation at the roadshow with Hauck & Aufhäuser, June 2024

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Aurubis AG

Metals for Progress

Virtual Roadshow

Hauck Aufhäuser

June 11th, 2024

Aurubis production sites

Headquarters

Primary Copper

Recycling/Precious Metals

Copper Products

Hamburg (DE)

Beerse (BE)

Olen (BE) Lünen (DE)

Berango (ES)

Pirdop (BG)

Hamburg Pirdop

Lünen Olen Richmond

Under construction

Beerse Berango

Aurubis Hauck Aufhäuser - virtual Roadshow | June 11th, 2024

Closing the loop is part of Aurubis' integrated business model

Concentrates

Smelting and

refining

28

30

34

45

46

47

Ni

Zn

Se

Rh

Pd

Ag

Copper cathodes

Nickel sulfate

Selenium

Sulfuric acid

50

82

79

78

75

52

Sn

Pb

Au

Pt

Re

Te

Scrap/

intermediates

Metals for progress

Scrap

Closing the

collectors

loop

Consumers

Processors and

end users

Further

processing

Continuous cast

shapes

Wire rod

Flat rolled products

Specialized applications for minor metals

Aurubis Hauck Aufhäuser - virtual Roadshow | June 11th, 2024

Lower concentrate throughput due to shutdown with strong demand for wire rod

Change vs.

FY 2022/23

prior year

Concentrate processing1

2,319,000 t

-5 %

Copper scrap/

515,000 t

-5 %

blister copper input2

Other recycling materials2

565,000 t

+8 %

Cathode output

1,109,000 t

0 %

Continuous cast wire rod

876,000 t

-1 %

output

Copper shapes output

178,000 t

-18 %

Flat rolled products +

133,000 t

-24 %

specialty wire output3

Sulfuric acid output

2,158,000 t

-6 %

Change vs.

FY 2022/23

prior year

Gold

49 t

+4 %

Silver

921 t

+1 %

Lead

38,088 t

-13 %

Nickel

3,488 t

-10 %

Tin

7,858 t

-16 %

Zinc

13,791 t

-1 %

Minor metals

875 t

+1 %

Platinum group

9,858 kg

+4 %

metals (PGMs)

1 Custom smelter production 2 Prior-year figures adjusted 3 Prior-year figures include FRP sites that have been sold Aurubis Hauck Aufhäuser - virtual Roadshow | June 11th, 2024

Executive summary of first 6 months 2023/24

Operating EBT

6M 2023/24 of

€ 243 million

(PY: € 239 million 1)

Net cash flow

€ 5 million

(PY: € 19 million)

Operating ROCE

10.0 %

(PY: 14.1 %)

Confirmed forecast

range for FY 2023/24

  • 380-480million

op. EBT

Aurubis' positive development continued in the second quarter 2023/24

Operating EBT positively influenced by increased TC/RCs for concentrates, a higher metal result, a significant rise in the Aurubis copper premium coupled with ongoing high demand for wire rod and lower energy costs, counteracted by decreased sulfuric acid revenues, lower income from refining charges, and

higher costs.

Prior-yearfigures restated due to the financial impact of the criminal activities

Strong operating performance at our smelter in Hamburg

ROCE (rolling EBIT last four quarters) reduced because of the negative closing quarter of the previous year and ongoing investment activity

Net cash flow low due to high payments for the build-up of inventories in preparation for the shutdown in Hamburg

We are confirming our forecast of € 380-480 million operating EBT for 2023/24

Aurubis Hauck Aufhäuser - virtual Roadshow | June 11th, 2024

Aurubis' financial position enables

our growth strategy

6M

6M

2023/24

2022/23

ROCE1

%

10.0

14.13

Equity ratio

%

54.2

56.6

(equity / total assets)

Debt coverage2

0.2

-0.2

6M

6M

Additional KPIs

2023/24

2022/23

Capital expenditure

€m

317

179

Capital employed

€m

3,683

3,176

(balance sheet date)

Net cash flow

€m

5

19

  1. Rolling EBIT last 4 quarters.
  2. Net financial liabilities/rolling EBITDA last 4 quarters.
  3. Prior-yearfigures restated.

Aurubis Hauck Aufhäuser - virtual Roadshow | June 11th, 2024

Gross margin for the Group in 2023/24

Breakdown of income components in the Aurubis

Group 6M 2023/24 YTD (YTD prior-year figures)

32 % (32 %) Treatment charges

for concentrate +

32 % (31 %)

recycling input

Metal result

  • € 1,105 million*

(~ € 1,069 million*)

36 % (37 %)

Premiums +

products

Prior-yearfigures restated.

  • Gross margin = Total of earnings components metal result, treatment and refining charges for concentrate + recycling input, and premiums + products

Aurubis Hauck Aufhäuser - virtual Roadshow | June 11th, 2024

Overview of Group costs - further decrease in energy costs

Overview of cost/expense positions

6M 2023/24 YTD (YTD prior-year figures)

10 % (10 %)

Depreciation

and amortization

33 % (31 %)

Personnel costs

11 % (13 %)

Consumables

12 % (13 %)

External

services

  • € 971 million*

(~ € 928 million*)

22 % (18 %)

11 % (15 %)

Other operating

Energy costs

expenses

Prior-year figures restated.

* Figures adjusted by energy compensations and hedging transactions

Aurubis Hauck Aufhäuser - virtual Roadshow | June 11th, 2024

Significantly lower energy costs in the first HY

Breakdown of energy costs 6M 2023/24

(YTD prior-year figures)

66 % (59 %)

Electricity

incl. oxygen

~€ 109 million*

(~€ 135 million*)

27 % (36 %)

Natural gas

5 % (4 %)

Liquid fuels

2 % (1 %)

Other energy

Key influencing factors for reduction of energy costs in 6M 2023/24:

  • Active energy management/hedging transactions
  • Indirect CO2 compensation (annual payment)
  • Lower commodity prices for electricity and natural gas

* Figures adjusted by energy compensations and hedging transactions

Aurubis Hauck Aufhäuser - virtual Roadshow | June 11th, 2024

Multimetal Recycling segment

6M

6M

Operating results

2023/24

2022/23

EBIT

€m

72

102

EBT

€m

75

103

ROCE1

%

10.3

15.5

Quantities

Copper scrap / blister copper

mt

144

173

Other recycling materials

mt

267

268

Cathodes

mt

253

263

1 Rolling EBIT last 4 quarters.

Breakdown of income components in MMR segment

6M 2023/24 YTD (YTD prior-year figures)

46 % (49 %)

45% (44 %)

Refining charges

for recycling input

Metal result

~€ 318 million*

(~€ 328 million*)

9 % (7 %)

Premiums +

products

  • Gross margin = Total of earnings components metal result, refining charges for recycling input, and premiums + products

Aurubis Hauck Aufhäuser - virtual Roadshow | June 11th, 2024

Disclaimer

Aurubis AG published this content on 11 July 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 July 2024 09:49:23 UTC.

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