Aurubis AG exceeds market expectations for the second quarter 2022/23 and increases full-year forecast

Hamburg, April 21, 2023 – According to preliminary figures, Aurubis AG generated operating earnings before taxes (EBT) of € 166 million in Q2 of fiscal year 2022/23 (previous year: € 168 million)*, thus exceeding market expectations. Operating EBT for the first half of fiscal year 2022/23 amounts to € 291 million (previous year: € 331 million)*.

The main reasons for the very strong quarterly result were considerably increased treatment and refining charges for concentrates, a significantly higher Aurubis copper premium and very high demand for wire rod at higher prices. These positive effects more than offset the drop in sulfuric acid revenues.

As a result, Aurubis AG is also increasing its forecast for fiscal year 2022/23: The Aurubis Group now anticipates an operating EBT between € 450 and 550 million. The forecast range for operating EBT was previously between € 400 and 500 million.

According to preliminary calculations, IFRS consolidated earnings before taxes (EBT) in the first half of 2022/23 come to € 203 million (previous year: € 686 million). Q2 accounts for € 132 million of this amount (previous year: € 281 million).

The final results for the first half of fiscal year 2022/23 will be released on May 11, 2023.

*See definition of operating EBT adjustment on September 30, 2022 – detailed in 2022/23 Q1 Report, page 17.

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