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    NDA   DE0006766504

AURUBIS AG

(NDA)
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Announcement Presentation Aurubis Richmond, USA, November 2021

11/11/2021 | 06:07am EST

Announcement Presentation Aurubis Richmond, USA

Hamburg, November 10, 2021

1

At a glance: Aurubis Richmond, USA, sets stage for expansion in recycling business and execution of updated strategy

Efficient, low-risk approach based on proven technologies and long-standing experience

Investment

EBITDA p.a.

~ € 300m

(by 2025/26)

~ € 80m

Start of

~ 90,000 t

production

input material

following ramp-up

~ 35,000 t

phase

blister copper

1st HY 2024

output

  • Megatrends boost demand for recycling and multimetal solutions globally
  • Aurubis creates frontrunner position in highly attractive US recycling market with significant annual growth rates of 4-6 % (CAGR) through 2035
  • Aurubis Richmond marks milestone to deliver on updated growth strategy, unlock new growth areas, and further strengthen earnings profile
  • Site located in Augusta, Richmond County in Georgia, featuring attractive conditions, close proximity to suppliers, and options for capacity expansion
  • Creating competitive advantage by capitalizing on existing market know-how, proven market technologies, flexible application mix, highest sampling and laboratory standards
  • Expansion of multimetal portfolio by processing and recycling new materials
  • Easily adjustable approach allows for quick adaptation to changing market demands
  • Project fully in line with Aurubis' sustainability targets and ambition to strengthen and expand our position as the most efficient integrated smelter network worldwide.

Aurubis / Announcement Presentation Aurubis Richmond

/ 2

Aurubis accelerating growth in recycling by investing in the very attractive US market

Tapping into a new

New site to further

Investment supports

market with proven

strengthen Aurubis'

climate targets and is

market technologies

sustainable, integrated

fully in line with Aurubis'

smelter network

Sustainability Strategy

  • Aurubis Richmond to become the largest specialized multimetal recycling smelter in the US market
  • Next logical step following the recycling and multimetal business expansion, capitalizing on megatrends such as electrification, renewables, digitalization
  • Efficient, low-risk approach based on proven market technologies
  • Investment fully in line with sustainability targets and Aurubis' strategy to drive sustainable, profitable growth

Aurubis / Announcement Presentation Aurubis Richmond

/ 3

Strategic step that capitalizes on underlying market trends

Increasing importance of sustainability in the US/Europe

  • Regulation, consumers, and electronics manufacturers focus increasingly on sustainability
  • Consequence: increase in recycling rates and incentivized local recycling
  • Opportunity: limited availability of secondary smelters in North America opens unique opportunity for market entry

Decline in copper scrap imports in Asia

  • Expected long-term trend towards emergence of local recycling markets in Asian countries
  • Chinese import ban on low-purity copper scrap as catalyst for this trend

Growing market for copper- containing recycling materials

  • Continuous positive development of underlying industries and accelerated innovation cycles, especially regarding consumer electronics
  • Further increase in supply expected due to electrification and expansion of renewable energies

Aurubis / Announcement Presentation Aurubis Richmond

/ 4

US recycling market with significant growth potential

Strong ~4-6 % growth through 2035 with focus on complex recycling/PM material

US market size for recycled materials 2019-2035(in million t)

Growth Drivers

Cu Scrap/Alloys

Complex Recycling

PM Material

Incremental

Continuous growth of industrial

CAGR 29-35

Growth

activity and consumption of

electronics lead to solid growth base

~12.2

Collection

Increasing collection rates,

~9.7

Rates

especially of bulk e-waste and PCB

~7.5

materials (currently only ~30 %)

~5.6

2019

2024

2029

2034

Data sources include Aurubis internal data, UN Comtrade import/export statistics, IHS, industry expert interviews, and market reports.

Miniaturiza- Recycling materials are getting tion Effect smaller with technological

progress (e.g., bulk e-waste and PCBs)

Import/ Net export of copper scrap

Export continuously decreasing with increasingly restrictive import policies in current outlets

(China and Southeast Asia)

Aurubis / Announcement Presentation Aurubis Richmond

/ 5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Aurubis AG published this content on 11 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 11:06:01 UTC.


ę Publicnow 2021
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Financials
Sales 2022 16 749 M 18 937 M 18 937 M
Net income 2022 277 M 313 M 313 M
Net cash 2022 287 M 325 M 325 M
P/E ratio 2022 15,9x
Yield 2022 1,75%
Capitalization 4 358 M 4 942 M 4 927 M
EV / Sales 2022 0,24x
EV / Sales 2023 0,25x
Nbr of Employees 7 135
Free-Float 62,3%
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Mean consensus HOLD
Number of Analysts 7
Last Close Price 99,86 €
Average target price 82,43 €
Spread / Average Target -17,5%
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Managers and Directors
Roland Harings Chief Executive Officer
Rainer Verhoeven Chief Financial Officer
Fritz Vahrenholt Chairman-Supervisory Board
Heiko Arnold Chief Operating Officer
Jan Koltze Member-Supervisory Board
Sector and Competitors