Aurubis AG raises full-year forecast due to very good quarterly earnings

Hamburg, April 21, 2022 - According to preliminary figures, Aurubis AG 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).

The main reasons for the significantly higher operating quarterly result compared to the prior-year period were a very strong market environment with continued high metal prices and improved metal gains, very high demand for copper products and sulfuric acid, and very good operating performance in all plants. Significantly higher energy costs compared with the previous year had the opposite effect.

As a result, the company is also increasing its forecast for the entire fiscal year 2021/22: The Aurubis Group now expects an operating EBT between € 500 million and € 600 million for fiscal year 2021/22. The forecast range for operating EBT was previously between € 400 million and € 500 million.

The increase in the full-year forecast for 2021/22 is based on continued high metal prices, such as for copper, nickel, and tin, stable prices for sulfuric acid, and consistently high demand for copper products.

The increase in the forecast is based on unrestricted production in the further course of the fiscal year. Risks to the achievement of the full-year forecast may arise from challenges in connection with the war in Ukraine and possible resulting supply bottlenecks for energy and raw materials. We do not currently foresee any supply bottlenecks at our production sites.

According to preliminary calculations, IFRS consolidated earnings before taxes (EBT) in the first half of 2021/22 come to € 686 million (previous year: € 415 million). Q2 accounts for € 281 million of this amount (previous year: € 189 million).

Contact:
Dr. Björn Carsten Frenzel
Leader Legal Affairs
E-Mail: [email protected]
Tel: +49 40 78 83 30 44