Metallo Assets Intergration Boosted Aurubis' Fiscal Results

SEATTLE (Scrap Monster): Hamburg, Germany-headquartered Aurubis AG reported robust operating results, despite the Covid-19 pandemic and its impacts on the global economy. The integration of recently added Metallo assets provided significant boost to earnings during the previous fiscal year.

The company’s operating earnings before tax (EBT) surged higher by 15% to € 221 million in the past fiscal year. This compares with € 192 million in the year prior to that. The operating ROCE also increased from 8.6% to 9.3%. Also, the operating consolidated net income rose by 21% from € 138 million to € 167 million.

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The inclusion of Metallo sites in Beerse, Belgium, and Berango, Spain in its results starting June this year led to notable improvement in throughput of material with low metallic content. The Metallo acquisition has also resulted in expansion of its product portfolio and capabilities. The higher earnings were also on account of significantly higher refining charges for copper scrap and other recyclable materials, the company said.

Roland Harings, Executive Board Chairman, Aurubis AG noted that the integration of Metallo is progressing well completely according to plan. The company is confident of exceeding the targeted synergy potential of 10 to 15 million euros in the next three years, he added.