Annual Report Fiscal Year 2020/21

Analyst Conference Call on December 3, 2021

Executive summary of fiscal year 2020/21

Operating EBT of

€ 353 million

(PY: € 221 million)

Q4 2020/21 € 85 million (PY: € 88 million)

Net cash flow

€ 812 million

(PY: € 459 million)

ROCE

15.6 %

(PY: 9.3 %)

Executive and

Supervisory Board

recommend a

dividend of € 1.60

(PY € 1.30)

Aurubis closed fiscal year 2020/21 with the best result in company history. Exceeding our forecast for FY 2020/21.

Generally very positive development of all earnings drivers and good operating performance, counteracted by higher energy prices.

Strategy review: future alignment of the Group to the three pillars "secure and strengthen core business," "pursue growth options," and "industry leadership in sustainability."

Approved short-term strategic investments of around € 350 million for projects such as Aurubis Richmond, USA, ASPA Beerse, and Industrial Heat II with expected EBITDA effect of around € 100 million starting 2025/26.

Forecast range FY 2021/22: op. EBT between € 320 and € 380 million.

Best fiscal year in the company's history and increased outlook for FY 2021/22

Aurubis Analyst Conference Call on December 3, 2021

2

Strong recycling and product markets managed to translate into higher production numbers

FY 2020/21

Change vs.

prior year

Concentrate processing1

2,250,000 t

-5 %

Copper scrap/

436,000 t

+18 %

blister copper input2

Other recycling materials2

566,000 t

+41 %

Cathode output2

1,113,000 t

+8 %

Continuous cast wire rod

869,000 t

+15 %

output

Copper shapes output

187,000 t

+21 %

Flat rolled products +

191,000 t

+7 %

specialty wire output

Sulfuric acid output

2,107,000 t

-7 %

1 Custom smelter production 2 Beerse / Berango volumes in FY 19/20 included for 4 months, excl. FRP. Aurubis Analyst Conference Call on December 3, 2021

FY 2020/21

Change vs.

prior year

Gold

51 t

+9 %

Silver

949 t

-2 %

Lead

40,717 t

+45 %

Nickel

3,900 t

+15 %

Tin

10,043 t

>100 %

Zinc

8,809 t

>100 %

Minor metals

977 t

+21 %

Platinum group

8,722 kg

-2 %

metals (PGMs)

3

Market conditions 2020/21: Strong recycling markets and sulfuric acid with strongly increased prices

Trend in significant market prices and refining charges

100 % = Sept. 2018

400%

Sulfuric acid price

350%

(spot CFR Brazil)

300%

Copper price (settlement)

250%

Exchange rate (US$/€)

200%

European refining charges for

150%

copper scrap no. 2

Copper premium

100%

50%

TC/RCs for copper concentrates

(contract)

0%

Sep 19

Dez 19

Mrz 20

Jun 20

Sep 20

Dez 20

Mrz 21

Jun 21

Sep 21

Aurubis Analyst Conference Call on December 3, 2021

4

Aurubis achieved best annual result history

12M

12M

(operating IFRS)

2020/21

2019/20

Revenues

€m

16,300

12,429

Gross profit

€m

1,430

1,233

EBITDA

€m

565

415

EBIT

€m

366

223

EBT

€m

353

221

Consolidated net income

€m

266

167

Operating ROCE

(%)

15.6

9.3

(operating EBIT last 4 quarters)

Beerse / Berango sites included for 4 months in 2019/20.

Aurubis Analyst Conference Call on December 3, 2021

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Aurubis AG published this content on 03 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 December 2021 06:11:16 UTC.