Corporate Calendar

Resilient business performance in a volatile market

SAB posted a strong performance in 2022 in a context of severe market disruptions, cost inflation and a volatile precious metal price environment. Group revenues[1] for the full year amounted to € 4.2 billion, up 10% compared to the previous year, driven by a strong operational performance, higher volumes and prices. Adjusted EBITDA amounted to € 1,151 million, a decrease of 8% compared to the record level achieved in 2021, reflecting increased spending for innovation and growth preparation, cost inflation[2] and less favorable precious metal price levels[3]. Operational free cash flow remained strong at € 344 million, despite higher working capital requirements mainly driven by a record level lithium price, as well as higher capital expenditures. Net financial debt slightly increased to € 1.1 billion, resulting in a leverage ratio of 0.96x LTM adjusted EBITDA.