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
-
Operating EBT of € 268 million (PY: € 133 million);
- 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 | 5 |
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Aurubis AG published this content on 05 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2021 05:05:04 UTC.