1Gross margin = Total of the earnings components metal result, treatment and refining charges, and premiums and products.
2Corporate control parameters.
Key Aurubis Group figures IFRS
Q2
2021/22
2020/21
Change
2021/22
Revenues
€m
4,856
4,056
20 %
9,262
7,519
23 %
Gross profit
€m
548
466
18 %
1,203
942
28 %
Personnel expenses
€m
145
148
-3 %
283
288
-2 %
Depreciation and amortization
€m
47
48
-2 %
94
93
1%
EBITDA
€m
326
234
38 %
772
507
52 %
EBIT
€m
279
188
48 %
678
415
64 %
EBT
€m
281
189
49 %
686
415
65 %
Consolidated net income
€m
209
146
43 %
510
319
60 %
Earnings per share
€
4.79
3.34
43 %
11.68
7.30
60 %
Number of employees (average)
7,156
7,132
0%
7,152
7,181
0%
6M
2020/21
Change
This report may include slight deviations in disclosed totals due to rounding.
Aurubis Group production figures
Multimetal Recycling segment
Copper scrap/blister copper input
1,000 t
85
83
2%
156
162
-4 %
Other recycling materials
1,000 t
126
117
8%
251
239
5%
Cathode output
1,000 t
128
122
5%
258
248
4%
Beerse
1,000 t
6
6
0%
12
12
0%
Lünen
1,000 t
37
37
0%
75
73
3%
Olen
1,000 t
85
79
8%
172
163
6%
Custom Smelting & Products segment
Concentrate throughput
1,000 t
635
618
3%
1,314
1,225
7%
Hamburg
1,000 t
284
285
-
592
565
5%
Pirdop
1,000 t
350
333
5%
722
660
9%
Copper scrap/blister copper input
1,000 t
51
57
-11 %
101
108
-7 %
Other recycling materials
1,000 t
10
12
-17 %
20
24
-17 %
Sulfuric acid output
1,000 t
599
588
2%
1,238
1,138
9%
Hamburg
1,000 t
240
246
-2 %
507
464
9%
Pirdop
1,000 t
359
342
5%
731
674
9%
Cathode output
1,000 t
152
154
-1 %
301
306
-2 %
Hamburg
1,000 t
95
98
-3 %
190
193
-2 %
Pirdop
1,000 t
57
56
2%
111
113
-2 %
Wire rod output
1,000 t
236
230
3%
435
430
1%
Shapes output
1,000 t
58
48
20 %
111
88
26 %
Flat rolled products and specialty wire output
1,000 t
49
51
-4 %
88
98
-10 %
Q2
Aurubis Group sales volumes
6M
2021/22
2020/21
Change
2021/22
Gold
t
12
14
-14 %
24
26
-8 %
Silver
t
268
237
13 %
486
472
3%
Lead
t
11,356
8,887
28 %
21,240
18,702
14 %
Nickel
t
1,063
1,237
-14 %
2,075
1,956
6%
Tin
t
2,154
2,486
-13 %
4,661
5,440
-14 %
Zinc1
t
2,738
4,304
-36 %
6,995
9,406
-26 %
Minor metals
t
231
143
62 %
482
551
-13 %
Platinum group metals (PGMs)
kg
2,298
3,223
-28 %
5,126
5,357
-4 %
2020/21
Change
1Prior-year figures have been adjusted.
CONTENTS
2At a Glance
"The positive market environment remained in place in the second quarter of the current fiscal year. In particular, the very positive metal result - in combination with the still good performance of our smelters - more than offset the significantly higher energy prices. This is another reason why we have lifted our forecast for the year as a whole yet again."
ROLAND HARINGS, Chief Executive Officer
5Interim Group Management Report First 6 Months 2021/22
20Interim Consolidated Financial Statements First 6 Months 2021/22
33Glossary
34Dates and Contacts
Interim Group Management ReportFirst 6 Months 2021/22
The Aurubis Group increased itsoperating earnings before taxes (EBT)considerably to € 345 million (previous year: € 185 million) in the first half of fiscal year 2021/22, reaping the benefits of a very strong market environment with metal prices that remained high with improved metal gain, very high demand for copper products and sulfuric acid, and excellent performance at the sites of the Aurubis smelter network. Theoperating return on capital employed (ROCE)came to 19.5 % (previous year: 11.9%). Accordingly, the forecast range for operating EBT in fiscal year 2021/22 was increased to € 500-600 million (previously € 400-500 million). IFRS earnings before taxes (EBT) amounted to € 686 million (previous year: € 415 million).
Financial performance
The Aurubis Group generated revenues of € 9,262 million during the first half of FY 2021/22 (previous year: € 7,519 million). This positive development was primarily due to substantially increased copper prices compared to the same period of the previous year. Stronger demand for copper products, considerably higher sulfuric acid revenues, and increased prices for industrial metals had an impact as well.
The gross margin includes the main components of the Aurubis Group's earnings, i.e. the metal result, treatment and refining charges, and premiums and products.Graphic
Proportion of main earnings components in the Aurubis Group
as at March 31 YTD 2021/22 (YTD prior-year figures)
Refining charges for
28% (34%)
concentrates + recycling materials
41% (37%)
Metal result
31% (29%)
Premiums and products
* Gross margin = Total of the earnings components metal result, treatment and refining charges, and premiums and products.
Operating earnings before taxes (EBT)- as one of our corporate control parameters - was € 345 million (previous year: € 185 million) and, compared to the first half of the previous year, was influenced by:
»significantly higher sulfuric acid revenues due to a significant increase in sales prices,
»higher refining chargesGlossary, page 33for other recycling materials,
»substantially higher demand for copper products,
»a substantially higher metal resultGlossary, page 33with increased metal prices, especially for industrial metals
»positive earnings contributions from our Performance Improvement Program (PIP),
(copper, tin, nickel),
»a still very good operating performance at our
»significantly higher energy costs, particularly for electricity and gas.
Hamburg and Pirdop sites in particular, with increased concentrate throughputs,
This is an excerpt of the original content. To continue reading it, access the original document here.
Aurubis AG published this content on 10 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2022 05:13:04 UTC.
English (UK)
English (Canada)
Deutsch (Deutschland)
Deutsch (Schweiz)
Español
Français (France)
Italiano
Nederlands (Nederland)
Nederlands (België)
Report
