Aurubis AG, a leading European copper producer, reported a 19% increase in pre-tax operating profit for the 2023/2024 fiscal year, reaching €413 million. The company confirmed its forecast for a €300–400 million reduction in operating profit for the 2024/25 fiscal year.
Aurubis proposed a dividend of €1.50 per share, exceeding analysts’ expectations. CEO Toralf Haag, during an online press conference, indicated that treatment and refining charges for copper concentrates (ore) are expected to decrease.
Haag noted that the copper concentrate market might tighten further in the coming year, as limited supply forces smelters to accept lower treatment and refining charges to secure concentrates. Despite these challenges, Aurubis has already secured 90% of its concentrate needs. The company credited its strong market position, long-term contract structures, and supplier diversification for ensuring stable supply.
High investment costs, particularly related to the new recycling smelter in Richmond, Georgia, USA, are expected to weigh on next year’s earnings. Haag emphasized that these investments were planned and stated that the Richmond project remains “on track.”
Aurubis remains optimistic about copper demand, driven by increased electrification in sectors like automotive and the trend toward renewable energy. “We expect strong demand for the metals we produce,” the company stated, highlighting robust demand for its wire products and consistent demand for shapes. However, sales of flat-rolled products are expected to decline.
[Source – 上海有色网] Aurubis2023/2024财年利润增长并看好铜需求前景 https://news.smm.cn/news/103074466
