Aurubis to Invest in Strategic Development of Smelter Network

SEATTLE (Scrap Monster): Aurubis AG- one of the world’s leading copper recyclers reported good results for the 2022/23 fiscal year, in spite of extraordinary impacts on account of criminal activities. Furthermore, the company announced that it has approved around €1.7 billion towards future strategic projects, which will deliver significant development of its smelter network.

The company reported operating earnings before taxes (EBT) of € 349 million for the fiscal as compared with € 532 million in the prior fiscal. The Operating Return on Capital Employed (ROCE) dropped from 19% in the previous year to 11.3%. This is the third best result in the history of the company, said the press release.

The fiscal year results were positively influenced by robust treatment and refining charges for copper concentrates in addition to higher income generated by refining charges. The results were also benefited by higher wire rod revenues.

Aurubis AG reiterated its commitment to continue investing in the US and in Europe, in line with the company’s previously announced transformation strategy. The multi metals recycler shared an optimistic view on the outlook for the new 2023/24 fiscal year. It anticipates an operating EBT of between € 380 and 480 million and an operating ROCE of between 10% and 14%.

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