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Metal Recycling News January 25, 2021 03:15:29 PM

Aurubis Boosted EBT Forecast for Fiscal Year 2020-‘21

Paul Ploumis
ScrapMonster Author
The operating EBIT of the company’s Metal Refining & Processing (MRP) segment is expected to range between € 300 million and € 380 million.

Aurubis Boosted EBT Forecast for Fiscal Year 2020-‘21

SEATTLE (Scrap Monster): Hamburg, Germany-based Aurubis AG increased its forecast for fiscal year 2020-’21. This was announced via an ad hoc release by the company to capital markets.

According to the company, the operating earnings before taxes (operating EBT) for the current fiscal year are expected to range between € 270 million and € 330 million. At the beginning of the fiscal year, the company had guided for operating EBT between € 210 million and € 270 million. Also, the company expects an operating return on capital employed (ROCE) of 9 to 12 % during the fiscal, as compared with the earlier forecast of 8-11%.

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The operating EBIT of the company’s Metal Refining & Processing (MRP) segment is expected to range between € 300 million and € 380 million, in comparison with earlier forecast range of € 300 million- € 380 million. Meantime, Flat Rolled Products (FRP) segment earnings are expected to be between € 14 million and € 22 million, compared to previous forecast of between € 4 million and € 12 million.

Roland Harings, CEO, Aurubis AG noted that the current high level of refining charges for recycling materials as well as metal prices will benefit the company during the current fiscal. The demand for all products across all consumer segments are expected to remain strong, he added.

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