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    NDA   DE0006766504

AURUBIS AG

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Real-time Estimate Tradegate  -  05:26 2022-10-04 am EDT
56.99 EUR   +3.02%
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Nine-month report: Aurubis AG continues with positive development and confirms forecast for year as a whole

08/05/2022 | 01:11am EDT

Aurubis AG increased its operating earnings before taxes (EBT) considerably to € 448 million in the first nine months of its current fiscal year (previous year: € 268 million). According to today's release of the figures, the multimetal supplier closed Q3 2021/22, which ended on June 30, 2022, with a result that is up by 67 % compared to Q3 of the previous year.

Our strong result for the first nine months is testimony to our ability to operate successfully and, with our robust position, to supply our customers with metals for renewable energies, electric vehicles, and digitalization, despite the challenging geopolitical situation and the associated marked rise in energy prices. We currently have a sufficient supply of energy at all of our sites, allowing us to produce without any restrictions. We are confirming the forecast range for operating EBT in the fiscal year as a whole of € 500 to 600 million

, is how Aurubis Executive Board Chairman Roland Harings summarizes the company's very positive development. The forecast is based on the assumption that Aurubis sites will continue to have access to an unrestricted supply of energy.

Aurubis is benefiting from a substantially higher metal result with increased metal prices, especially for industrial metals such as copper, tin, and nickel. Sulfuric acid revenues were also much higher due to a significant increase in sales prices, and demand for copper products increased considerably. Higher refining charges for other recycling materials also translated into a strong overall result after the end of the first nine months of the fiscal year. The planned maintenance shutdown in Hamburg, much lower refining charges for copper scrap, and significantly higher energy costs - particularly for electricity and gas - had the opposite effect, but were offset by the positive earnings drivers.

Revenues in the reporting period amounted to € 14,277 million (previous year: € 12,180 million). Operating ROCE (return on capital employed) is determined taking the EBT of the last four quarters into consideration and improved to 18.6 % - especially as a result of the very good earnings performance. It was 13.5 % in the first three quarters of the previous year. The ROCE for the entire year is expected to be between 17 % and 21 %.

IFRS consolidated EBT* in the first nine months of 2021/22 amounts to € 793 million (previous year: € 631 million).

The Aurubis Executive Board will be explaining the results for the first nine months of the fiscal year in a webcast for analysts and investors today between 2 p.m. and around 3 p.m. (CEST). Access for listen-only mode (prior registration not required) is available here.

* Because the IFRS result includes measurement effects due to metal price fluctuations and other factors, Aurubis discloses an operating result (EBT) that differs from the IFRS result. The operating result largely eliminates the effects of metal price fluctuations and thus allows for a more realistic assessment of the business performance. Operating EBT is used for control purposes within the Group.

Disclaimer

Aurubis AG published this content on 05 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 05:10:04 UTC.


© Publicnow 2022
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Financials
Sales 2022 18 256 M 17 960 M 17 960 M
Net income 2022 559 M 550 M 550 M
Net cash 2022 415 M 408 M 408 M
P/E ratio 2022 4,08x
Yield 2022 3,95%
Capitalization 2 415 M 2 376 M 2 376 M
EV / Sales 2022 0,11x
EV / Sales 2023 0,12x
Nbr of Employees 7 163
Free-Float 62,3%
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Mean consensus HOLD
Number of Analysts 6
Last Close Price 55,32 €
Average target price 78,00 €
Spread / Average Target 41,0%
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Managers and Directors
Roland Harings Chief Executive Officer
Rainer Verhoeven Chief Financial Officer
Fritz Vahrenholt Chairman-Supervisory Board
Heiko Arnold Chief Operating Officer
Jan Koltze Member-Supervisory Board