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Aurubis hampered by ‘weak’ copper scrap markets

Global – The world’s largest copper recycler Aurubis upped its operating earnings before taxes from Euro 114 million in fiscal year 2012/13 to Euro 138 million in 2013/14, with Euro 63 million of this amount generated in the fourth quarter of the financial period. ‘However, we aren’t satisfied with the annual results, as our expectations at the beginning of the fiscal year were much more positive,’ insists Aurubis’ executive board chairman Dr Bernd Drouven.

Earnings were helped by a good supply of copper concentrates with rising treatment charges and a notable recovery of demand, especially for continuous cast rod and shapes. However, ′weak copper scrap markets with much lower refining charges′ and ′reduced metal prices′ were among those factors to have had a negative impact on profits. Aurubis′ revenues fell from Euro 12.346 billion to Euro 11.335 billion – ′primarily due to lower metal prices, especially for precious metals′, it adds.

Looking to 2014/15, Drouven expects operating earnings to be ′well above the previous year′ despite the overall economic environment continuing to be affected by ′uncertainties′ that could influence specific markets ′at short notice′, especially copper scrap and sulfuric acid. However, Aurubis also notes that it has been able to ′stock copper scrap at improved conditions for the first half of the new fiscal year to a large extent′.

Employing some 6500 people, Aurubis has production sites in Europe and the USA and an extensive service and sales system for copper products in Europe, Asia and North America.

 

For more information, visit: www.aurubis.com

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