Aurubis reports preliminary earnings of €152mn for Q1

By Dominic Ellis
Multi-metal company Aurubis is increasing its EBT forecasts for fiscal year 2021/22 to between €400mn-€500mn, up from €320mn-€380mn

Aurubis has reported preliminary operating earnings before taxes of €152mn for Q1 - which ended December 31 - compared with €82mn the previous year.

The multi-metal company is increasing its EBT forecasts for fiscal year 2021/22 to between €400mn-€500mn, up from €320mn-€380mn.

Aurubis reports a very good operating performance at the sites of its smelter network and achieved considerably higher revenues from sulfuric acid sales and an improved metal gain, especially for the industrial metals copper, tin, nickel, and zinc – with increased metal prices. CEO Roland Harings (pictured) said it is the leading European recycler of tin.

As of January 1, roughly 10% higher treatment and refining charges for copper concentrates, a good ongoing level of refining charges for recycling materials, a significantly higher Aurubis copper premium, stronger demand for copper products, and substantially increased sulfuric acid prices will have a positive impact on the full-year result.

Risks could arise from the influence of COVID-19 on the company’s production and product sales, as well as from energy price developments.

IFRS consolidated earnings before taxes (EBT) in Q1 2021/22 amount to €405mn according to preliminary calculations (previous year: €226 mn).

As of the 2024/25 heating period, about 20,000 more households in Hamburg will be supplied with CO2-free industrial heat from a sub-process of Aurubis copper production, as part of a heat supply contract signed with Wärme Hamburg. The use of CO2-free industrial heat in the heating network will replace heat that is currently generated from fossil fuels.

Aurubis' strategy is built on three pillars: securing and strengthening the core business, pursuing growth options – especially in recycling – and expanding the company’s industry leadership in sustainability. Final figures for Q1 of the current fiscal year will be released on February 7.

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