Aurubis AG raises full-year forecast due to very good quarterly earnings
Hamburg | Thursday, April 21, 2022
Aurubis AG exceeds the market expectations for the second quarter of its 2021/22 fiscal year, which ended on March 31, 2022. According to preliminary figures, the multimetal company generated operating earnings before taxes (EBT) of € 194 million in Q2 of fiscal year 2021/22 (previous year: € 103 million). Operating EBT for the first half of fiscal year 2021/22 would thus amount to € 345 million (previous year: € 185 million).
Aurubis is increasing the forecast for the entire fiscal year 2021/22 and now expects an operating EBT between € 500 million and € 600 million. The forecast range for operating EBT was previously between € 400 million and € 500 million.
“The positive trend is continuing,” says Roland Harings, Chief Executive Officer of Aurubis AG. “Also in the second quarter of the current fiscal year, we benefited from a very strong market environment with continued high metal prices and improved metal gains, a very high demand for copper products and sulfuric acid, combined with a very good operating performance at the sites in our smelter network. The very strong metal earnings more than offset the significant rise in energy prices. We expect the situation on our core markets to remain stable for the rest of the fiscal year. The forecast is based on the continued unrestricted supply of input materials and energy to our sites. We currently see no supply constraints at our production sites due to the war in Ukraine.”
IFRS consolidated earnings before taxes (EBT) in the first half of 2021/22 come to € 686 million according to preliminary calculations (previous year: € 415 million). Q2 accounts for € 281 million of this amount (previous year: € 189 million).
Aurubis is consistently developing into an international multimetal provider that caters to the current megatrends and, in recycling a variety of input materials, makes a meaningful contribution to a functional international circular economy. This is also apparent in the recently released company strategy, which is supported by three pillars: securing and strengthening the core business, pursuing growth options – especially in recycling – and expanding the company’s industry leadership in sustainability.
The final figures for the first half of the current fiscal year will be released on May 10, 2022.
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