Aurubis AG Q4 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : First of all, concerning PIP cost reduction program is still in place, EUR 100 million until 2023. How does it fit to the current growth options? So are you still so reducing cost in the entire structure, but at the same time, investing heavily into growth. Can you a little bit bring that in some kind of a framework? This would be the first question, and I will follow with the next one afterwards.

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Okay. Then concerning your scrap supply, so how much of the entire scrap in value is dedicated to Scrap #2? So the clean scrap more or less that how much is multimetal complex? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 03, 2021 / 1:00PM, NAFG.DE - Q4 2021 Aurubis AG Earnings Call

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Yes. Okay. And then you had a very strong operating cash flow, of course, this year of so exceeding EUR 800 million. Can we expect some kind of a stronger reverse going into the current business year? Or what is your guidance throughout the quarter?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Okay. Very good. And then last one, a little bit the joint venture. Maybe we'll hear more on Monday, but maybe some first words concerning the cooperation with SMS. So SMS providing plant engineering, of course. You are providing expertise how to run this kind of plant. But going into the U.S., if this kind of modular concept is this still something which is up and running? Or is it something where you have integrated several modules so far? And the U.S. plant will be the first one of this kind of modular concept?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Yes. But so far, you don't have a plant which is more or less in that structure somewhere in your Aurubis.

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Yes. And the last one is a recycling is also in the forefront of what the EU tries to achieve going forward, more recycling, metal recycling. Do you so far get any meaningful support from the EU or the German government?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : In the end, it's interesting because the steel industry is currently looking for a 50% CapEx for their first transformation step. And here, we have an industry which is directly into metal recycling, which is some kind of a name for the EU also, and there is more support so far. Nevertheless, thank you very much, all the best.