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.