Hamburg - The financial year 2020/21 of Aurubis AG (Aurubis), which ended on September 30, was the most financially successful in the company's history: At EUR 353 million, the multi-metal producer achieved an overall excellent operating result before taxes (EBT), which was around 60 % higher than in the previous year (EUR 221 million).
Aurubis thus also significantly exceeded its forecast for the financial year. Operating ROCE (return on capital employed) also increased, reaching 15.6% (PY: 9.3%). Earnings for the 4th quarter amounted to EUR 85 million (prior-year quarter: EUR 88 million).
In view of the excellent result, the Executive Board and Supervisory Board of Aurubis will propose to the Annual General Meeting on February 17, 2022, which will again take place in digital form, a further increased dividend of EUR 1.60 per share (previous year: EUR 1.30). If the Annual General Meeting approves the proposal, the payout ratio will be 26% (previous year: 35%) of Group operating profit.
Despite challenges: good plant availability, high demand, increased metal prices
Both on the primary raw material side (concentrates) and on recycled materials - the secondary raw materials - Aurubis was able to continue to supply itself well. Sharply higher refining wages for scrap copper and other recycled materials also had a positive effect on earnings. In addition, Aurubis is benefiting from a very good metal result with sharply higher metal prices, especially for copper, nickel and tin. High demand for products additionally supported the result. High energy costs had the opposite effect.
IFRS consolidated earnings before taxes (EBT) amounted to EUR 826 million (previous year: EUR 367 million).
We are proud of what we have achieved in a financial year that still ran largely under Corona conditions - and this, despite these and other challenges such as supply chain bottlenecks and rising energy prices, almost smoothly. Other positive factors were high plant availability throughout the Group, the successful, rapid integration of the new recycling sites in Belgium and Spain into the Group or the continued consistent implementation of our cost-cutting program.
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