DGAP-News Aurubis AG: Sustainable success in the first fiscal half-year: Aurubis achieves significantly higher result
DGAP-News: Aurubis AG / Key word(s): Half Year Results
Sustainable success in the first fiscal half-year: Aurubis achieves significantly higher result
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- Despite coronavirus crisis, multimetal company generates operating EBT of € 185 million (previous year: € 91 million)
- Reasons: Good market environment for refining charges, higher throughputs of concentrates and recycling materials, and high product demand
- Doing business sustainably: Aurubis Bulgaria certified with Copper Mark quality seal
Hamburg, May 10, 2021 - Significantly higher refining charges for recycling materials, an increased concentrate throughput, strict cost discipline, high product demand, and a higher metal result with a strong increase in metal prices: these factors combined are the key reasons for the significantly higher operating earnings before taxes (EBT) of € 185 million that Aurubis AG generated in the first half of its current fiscal year compared to the prior-year period (€ 91 million). The only negative impact came from substantially higher energy costs due to increased electricity prices. At € 125 million, net cash flow was significantly above the prior-year level thanks to the good financial performance. The company thus made its way through the coronavirus crisis very robust in the past fiscal half-year again.
Positive market environment, recycling reinforced due to new sites
The substantially higher concentrate throughput came up against lower treatment and refining charges for copper concentrates due to global market factors, while refining charges for copper scrap and recycling materials remained at a high level. The throughput of other recycling materials also increased, with the new sites in Beerse (Belgium) and Berango (Spain) making positive contributions to the result in particular. Operating ROCE (taking the operating EBIT of the last four quarters into consideration) was 11.9 % (previous year: 7.5 %).