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STEEL DYNAMICS, INC.

(STLD)
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Steel Dynamics : Second Quarter 2021 Investor Call Presentation

07/19/2021 | 05:52pm EDT

Second Quarter 2021 Investor Call Presentation

July 20, 2021

Safety

Culture

Customer Commitment

Growth

Innovation

Financial Strength

Forward Looking Statements and Non-GAAP Financial Measures

Forward-Looking Statements

This presentation contains some predictive statements about future events, including statements related to conditions in domestic or global economies, conditions in steel and recycled metals marketplaces, Steel Dynamics' revenues, costs of purchased materials, future profitability and earnings, and the operation of new, existing or planned facilities. These statements, which we generally precede or accompany by such typical conditional words as "anticipate", "intend", "believe", "estimate", "plan", "seek", "project", or "expect", or by the words "may", "will", or "should", are intended to be made as "forward-looking", subject to many risks and uncertainties, within the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These statements speak only as of this date and are based upon information and assumptions, which we consider reasonable as of this date, concerning our businesses and the environments in which they operate. Such predictive statements are not guarantees of future performance, and we undertake no duty to update or revise any such statements. Some factors that could cause such forward-looking statements to turn out differently than anticipated include: (1) domestic and global economic factors; (2) global steelmaking overcapacity and steel imports, together with increased scrap prices; (3) pandemics, epidemics, widespread illness or other health issues, such as the COVID-19 pandemic; (4) the cyclical nature of the steel industry and the industries we serve; (5) volatility and major fluctuations in prices and availability of scrap metal, scrap substitutes, and our potential inability to pass higher costs on to our customers; (6) cost and availability of electricity, natural gas, oil, or other resources are subject to volatile market conditions; (7) compliance with and changes in environmental and remediation requirements; (8) increased regulation associated with the environment, climate change, greenhouse gas emissions and sustainability; (9) significant price and other forms of competition from other steel producers, scrap processors and alternative materials; (10) availability of an adequate source of supply for our metals recycling operations; (11) cybersecurity threats and risks to the security of our sensitive data and information technology; (12) the implementation of our growth strategy; (13) litigation and legal compliance, (14) unexpected equipment downtime or shutdowns; (15) governmental agencies may refuse to grant or renew some of our licenses and permits; (16) our senior unsecured credit facility contains, and any future financing agreements may contain, restrictive covenants that may limit our flexibility; and (17) the impacts of impairment.

More specifically, we refer you to Steel Dynamics' more detailed explanation of these and other factors and risks that may cause such predictive statements to turn out differently than expected or anticipated, as set forth in our most recent Annual Report on Form 10-K under the headings Special Note Regarding Forward-Looking Statements and Risk Factors, in our quarterly reports on Form 10-Q or in other reports which we from time to time file with the Securities and Exchange Commission. These are available publicly on the SEC website, www.sec.gov, and on the Steel Dynamics website, www.steeldynamics.com: Investors: SEC Filings.

Note Regarding Non-GAAP Financial Measures

Steel Dynamics reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). Management believes that EBITDA, Adjusted EBITDA, Adjusted Operating Income and Free Cash Flow, non-GAAP financial measures, provide

additional meaningful information regarding Steel Dynamic's performance and financial

strength. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, Steel Dynamics' reported results prepared in accordance with GAAP. In addition, because not all companies use identical calculations, EBITDA, Adjusted EBITDA, Adjusted Operating Income and Free Cash Flow included in this presentation may not be comparable to similarly titled measures of other companies. The reconciliations of these non-GAAP measures to their most comparable GAAP measures are contained in the appendix at the end of this presentation.

2

July 20, 2021

Safety is Our Number One Value

Total Recordable Injury Rate1

Total 2020 Recordable Injury Rate1 By Platform

1.9

1.9

2.0

Each of our

1.8

operating platforms

1.5

consistently perform

meaningfully better

than industry

benchmarks

2017

2018

2019

2020

Q2'21 TTM

Steel

Steel

Metals

Fabrication

Recycling

4.4

3.1

3.3

2.4

2.0

1.3

Steel Dynamics

Industry²

Lost Time Injury Rate1

Severity Rate1

0.41

0.38

0.33

0.33

0.25

14.2

Record

12.2

10.4

Performance

8.6

8.2

2017

2018

2019

2020

Q2'21 TTM

2017

2018

2019

2020 Q2'21 TTM

  1. Total Recordable Injury Rate is defined as OSHA recordable incidents x 200,000 / hours worked, Lost Time Injury Rate is defined as OSHA days away from work cases x 200,000 / hours worked, and Severity Rate is defined as OSHA days away from work x 200,000 / hours worked
  2. Source: 2019 U.S. DOL Bureau of Labor Statistics

3

July 20, 2021

Record Second Quarter and First Half 2021 Performance

Q 2 2 0 2 1

H I G H L I G H T S

Record Q2 2021

Operating and

Financial

Performance

  • Record low safety severity rate
  • Record sales of $4.5 billion, operating income of $956 million, and net income $702 million
  • Net Income of $3.32 per diluted share, $3.40 per diluted share excluding Sinton, Texas Flat Roll Steel Mill construction costs
  • Record cash flow from operations of $587 million and adjusted EBITDA1 of over $1.0 billion
  • Steel operations achieved record operating income of over $1.0 billion and record shipments of 2.9 million tons
  • Steel fabrication operations achieved record shipments of 189,000 tons and almost tripled sequential operating income to $28 million
  • Metals Recycling operations achieved operating income of $51 million, aligned with strong first quarter results
  • New Sinton, Texas EAF Flat Roll Steel Mill planned to start mid fourth quarter
  • Repurchased $393 million of common stock and announced a new $1.0 billion authorization in July
  • Announced sustainability goals related to greenhouse gas (GHG) emission reduction and increased renewable energy use leading to steel mill carbon neutrality by 2050

¹ The adjusted net income reconciliation is provided in the appendix to this presentation.

2 The adjusted EBITDA reconciliation to GAAP net income is provided in the appendix to this presentation.

4

July 20, 2021

Second Quarter 2021 Financial Highlights

Net sales, Net income and adjusted EBITDA records reflect market strength and our differentiated business model

Sequential

Prior Year

Dollars in millions, except per share data

Q2 2021

Q1 2021

Q2 2020

Change

Change

Net Sales

$4,465

$3,545

$2,094

$920

$2,371

Operating Income

956

594

159

362

797

Net Income attributable to Steel Dynamics, Inc.

702

431

75

271

627

Adjusted Net Income per Diluted Share¹

3.40

2.10

0.47

1.30

2.93

Adjusted EBITDA²

1,032

664

217

368

815

Operating Income (loss)

Steel Operations

1,017

641

172

376

845

Steel Fabrication Operations

28

10

27

18

1

Metals Recycling Operations

51

54

(6)

(3)

57

¹ The adjusted net income reconciliation is provided in the appendix to this presentation.

2 The adjusted EBITDA reconciliation to GAAP net income is provided in the appendix to this presentation.

5

July 20, 2021

Disclaimer

SDI - Steel Dynamics Inc. published this content on 19 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2021 21:51:05 UTC.


© Publicnow 2021
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Sales 2021 17 846 M - -
Net income 2021 3 313 M - -
Net Debt 2021 336 M - -
P/E ratio 2021 3,92x
Yield 2021 1,68%
Capitalization 12 645 M 12 645 M -
EV / Sales 2021 0,73x
EV / Sales 2022 0,65x
Nbr of Employees 9 625
Free-Float 73,0%
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Number of Analysts 11
Last Close Price 61,95 $
Average target price 84,20 $
Spread / Average Target 35,9%
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Managers and Directors
Mark D. Millett Chairman, President & Chief Executive Officer
Theresa E. Wagler Chief Financial Officer & Executive Vice President
Robert E. Francis Chief Information Officer & Vice President
Frank D. Byrne Independent Director
James C. Marcuccilli Lead Independent Director
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