Global – World-leading copper recycler Aurubis generated operating earnings before taxes of Euro 79 million (US$ 98 million) in the first quarter of its 2017/18 fiscal year versus Euro 18 million (US$ 22 million) in the same period 12 months earlier. ‘In particular, a significantly higher concentrate throughput and increased refining charges for copper scrap had a positive impact,’ the Germany-based group explains in its latest statement.
Despite the fact that results were impaired by the lower copper premium and the weaker US dollar because Aurubis ‘generates significant revenue in this currency’, executive board chairman JÃ¼rgen Schachler counters by highlighting ‘the good performance at our sites and the good scrap markets’.
Looking ahead, Aurubis anticipates healthy market conditions overall in both the raw material and product markets. The company expects ‘a fundamentally stable copper scrap market’ although declining metal prices ‘could lead to a tightening’ with ‘decreasing refining charges in the short term’.
Schachler concludes: ‘We confirm our forecast from the beginning of the fiscal year: for 2017/18, we expect operating earnings before taxes at the previous year’s level.’