Aurubis : Analyst conference call presentation 9 months FY 2020/21 PDF 5 MB

Quarterly Report

First 9 Months 2020/21

Analyst Conference Call on August 5, 2021

Executive summary for first 9 months of 2020/21

Quarterly Report

• First 9 months closed with a very good result due to stable ongoing operating performance and stable market developments
• • Operating EBT of € 268 million (PY: € 133 million);
    Q3 2020/21: € 83 million (PY: € 42 million)
  • ROCE: 13.5 % (PY: 8.5 %)
  • Significantly increased RCs for copper scrap and recycling material, substantially higher metal gains based on higher metal prices, and strong demand for copper products; negative impact from increasing energy prices
  • Net cash flow: € 332 million (PY: € 166 million)
  • We confirm our forecast for FY 2020/21
• Aurubis to strengthen its core business with a new, highly efficient recycling asset at the plant in Beerse. Start of production in FY 24/25. Expected EBITDA run rate of high single-digit million € p.a. at full production rate.
• Performance Improvement Program with contribution of approx. € 70 million in FY 2020/21
• Aurubis Stolberg GmbH & Co. KG declares force majeure due to flooding; damages and loss of earnings expected to be covered by relevant insurance

Aug-21

2

Very successful result by making use of positive market factors

		9M		Change
		9M	vs. prior
(operating IFRS)		2020/21	2019/20	year
Revenues	€m	12,180	8,896	37 %
Gross profit	€m	1,057	848	25 %
EBITDA	€m	415	254	63 %
EBIT	€m	275	139	98 %
EBT	€m	268	133	>100 %
Consolidated net income	€m	205	103	99 %
Operating ROCE	(%)	13.5	8.5	-
(operating EBIT last 4 quarters)

Metallo sites included for one month in 2019/20.

Aug-21

3

Increase in CO2 and coal prices weighs on electricity costs

Breakdown of energy costs in the Aurubis Group

(9M 2021/20)

Electricity

incl. oxygen

82 %

Natural Gas

13 %

Liquid fuels

3 %

Other energy

1 %

YTD FY 20/21 € ~ 166 million

YTD FY 19/20 € ~ 139 million

Electricity consumption and CO2 scopes

• Secondary energy consumption in the Aurubis Group: approx. 1.98 million MWh (2020)
• CO2 emissions of 1.58 million t (2020)
• • 0.54 million t of direct emissions (Scope 1)
  • 1.04 million t of indirect emissions related to purchased energy; market-based (Scope 2)

Aug-21

4

Market conditions in Q3 2020/21: Very promising scrap markets, strong demand for copper products and sulfuric acid

Trend in significant market prices and refining charges

200%											100 % = Sept. 2018
180%											European refining charges
160%											for copper scrap no. 2
										Copper price (settlement)
140%											Sulfuric acid price
120%											(spot CFR Brazil)
100%											Copper premium
80%											Exchange rate (US$/€)
60%											TC/RCs for copper
40%											concentrates (contract)
20%	Dez 18				Dez 19				Dez 20	Mrz 21
Sep 18	Mrz 19	Jun 19	Sep 19	Mrz 20	Jun 20	Sep 20	Jun 21

Aug-21

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