Aurubis' positive development continues with the second quarter at the very high level of the previous year
Good concentrate markets and product demand led to good Q2 2022/23 figures, despite lower sulfuric acid revenues and higher costs, with well managed energy costs
Lower metal result related to input materials; remains a significant contribution to Group's earnings
Ongoing strong operating performance at our smelter in Pirdop; Hamburg performance stabilized in Q2
Net cash flow low due to temporarily high working capital
Upward adjustment: op. EBT for FY 2022/23 at € 450-550million
Good operating performance in Q2 and ongoing strong metal demand led to an increase in the forecast
Aurubis Analyst Conference Call on May 11, 2023
2
Aurubis with strong Q2 results and increased forecast
6M
6M
Change vs.
(operating IFRS)
2022/23
2021/221
prior year
Revenues
€m
8,784
9,262
-5 %
Gross profit
€m
839
857
-2 %
EBITDA
€m
383
426
-10 %
EBIT
€m
286
332
-14 %
EBT
€m
291
331
-12 %
Consolidated net income
€m
230
257
-11 %
Operating ROCE
(%)
15.6
19.6
-
(operating EBIT last 4 quarters)
1 Prior-year figures adjusted
Aurubis Analyst Conference Call on May 11, 2023
Sulfuric acid stabilizes at lower levels, other market conditions stable
Trend in significant market prices and refining charges
100 % = Sept. 2019
450%
400%
350%
300%
250%
200%
150%
100%
50%
0%
09.2019
12.2019
03.2020
06.2020
09.2020
12.2020
03.2021
06.2021
09.2021
12.2021
03.2022
06.2022
09.2022
12.2022
03.2023
Sulfuric acid price
(spot CFR Brazil)
Copper price (settlement)
Exchange rate (US$/€)
European refining charges
for copper scrap no. 2 Copper premium
TC/RCs for copper concentrates (contract)
Aurubis Analyst Conference Call on May 11, 2023
4
Gross margin at prior-year level
Breakdown of income components in the Aurubis Group 6M 2022/23 YTD (YTD prior-year figures)
31 % (28 %)
Treatment charges
34 % (41 %)
for concentrate +
recycling input
Metal gains
~ € 1,121 million* (~ € 1,139 million*)
35 % (31 %)
Premiums +
Products
Gross margin = Total of earnings components metal result, treatment charges for concentrate + recycling input, and premiums + products
Aurubis AG published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2023 05:14:45 UTC.
Aurubis AG is a Germany-based company engaged in the production of primary copper and precious metals, the recycling of secondary raw materials and the processing of copper into final products. Its product portfolio comprises rod and specialty wire, such as cast rod, directly cast, oxygen-free copper rod and a variety of drawn products; shapes; industrial rolled products; architectural solutions for surfaces and facades; bars and profiles for the electro-technical industry; cathodes; precious metals, such as gold and silver, which are extracted from copper concentrates and secondary raw materials; sulfuric acid, iron silicate, selenium, and recycled copper, precious metal and other non-ferrous metal products. The Company also operates copper slitting service centers.
AURUBIS AG 
