EQS-News
Aurubis achieves another strong result in first half of 2023/24
- Aurubis achieves strong operating result of €243 million in first half of 2023/24
- Significant increase in investment activities as part of growth strategy
- Confirmed forecast: Operating EBT of €380 to 480 million expected for 2023/24
EQS-News: Aurubis AG / Key word(s): Half Year Results/Half Year Report Aurubis achieves another strong result in first half of 2023/24 |
- Operating result of € 243 million due to higher treatment and refining charges, powerful operating performance, and high demand for cathodes and wire rod
- Significant increase in investment activities in the first half of 2023/24 as part of growth strategy
- Confirmation of forecast: Operating EBT of € 380 to 480 million expected for 2023/24
Hamburg, May 8, 2024 — Aurubis AG, a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide, achieved operating earnings before taxes (EBT) of € 243 million in the first six months of fiscal year 2023/24 (previous year: € 239 million). This puts the result above the prior-year level, with the second fiscal quarter overcompensating for the weaker result in Q1. As part of the financial impacts of the criminal activities directed against Aurubis accounted for in Q4 of fiscal year 2022/23, in Q2 2023/24 the metal shortfalls were realistically distributed across the second, third and fourth quarters of the previous year based on international accounting standards. In a segment breakdown, Aurubis achieved operating EBT of € 75 million (previous year: € 103 million) in the Multimetal Recycling segment and operating EBT of € 235 million (previous year: € 171 million) in the Custom Smelting & Products segment.
Operating return on capital employed (ROCE) was 10.0 % as at the reporting date (previous year: 14.1 %). Because it is calculated on a rolling basis over the past four quarters, it was significantly negatively affected by the financial impacts of the criminal activities directed against Aurubis in the past fiscal year. Furthermore, the company’s high level of investment activity this fiscal year will lead to an increase in fixed assets that will positively affect ROCE with a time lag.