World's Largest Copper Recycler Reports 7% Revenue Boost

SEATTLE (Scrap Monster): Aurubis- Europe’s largest copper producer and the world’s largest copper recycler reported 25% surge in its operating earnings before taxes (EBT) to €264 million in the first three quarter of FY 2017/18. This is when compared with the EBT of €211 million during the corresponding period last year. Higher copper prices also boosted revenues by nearly 7% over the previous year.

The significantly strong operating result was mainly due to ongoing robust performance by the Hamburg and Pirdop sites, along with the positive impacts provided by optimization measures at various sites. Consequently, Aurubis achieved 6% boost in concentrate output during the nine-month period, despite maintenance shutdown in Hamburg. The concentrate throughput totaled 1.913 million t.

Abundant scrap availability and substantially higher refining charges for copper scrap benefited the company. High global demand from fertilizer and chemical industries lifted the revenues from sale of sulfuric acid. High copper prices coupled with dramatic jump in sales volume of rod products and flat rolled products too contributed to the outstanding performance during the initial nine-month period.

The company confirmed its earlier forecast of higher earnings of the full fiscal year. It anticipates no major changes to raw material and product markets for the rest of the year. The Aurubis Group expects the operating EBT during the current year to remain moderately higher when compared with the prior year. It expects the fiscal year operating result to remain at the upper end of its forecast.