EQS-Adhoc: Aurubis AG exceeds market expectations for the second quarter 2022/23 and increases full-year forecast
EQS-Ad-hoc: Aurubis AG / Key word(s): Half Year Results/Change in Forecast
Aurubis AG exceeds market expectations for the second quarter 2022/23 and increases full-year forecast
21-Apr-2023 / 16:19 CET/CEST
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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: c.frenzel@aurubis.com
Tel: +49 40 78 83 30 44
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