Aurubis AG Results Minimally Impacted by Covid-19 Crisis

SEATTLE (Scrap Monster): Aurubis AG- the multimetal company declared significantly higher results during the first fiscal half-year. Despite coronavirus crisis, it generated operating earnings before taxes (EBIT) of € 185 million, compared with € 91 million during the year-ago period. The results were mainly driven by higher throughputs of concentrates and recycling materials, high product demand and favourable refining charges.

The substantially higher concentrate throughput was the result of lower treatment and refining charges for copper concentrates. However, the refining charges for copper scrap and recycling materials continued to remain at elevated levels. The company’s Beerse, Belgium and Berango, Spain sites made positive contributions to the results.

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The Metal Refining & Processing segment generated operating EBT of € 225 million. The concentrate throughput of 1.225 million t during the first six months of the current fiscal year, was considerably higher from 1.118 million t a year before. The Flat Rolled Products segment reported operating EBIT of € 3 million. High product demand and strict cost management contributed to the improved results, said the company press release.

Roland Harings, Chief Executive Officer, Aurubis highlighted that the coronavirus crisis had only minor impacts on its results.