Aurubis AG: Aurubis increases full-year forecast due to high quarterly result
Aurubis AG / Key word(s): Profit Warning/Change in Forecast
Aurubis increases full-year forecast due to high quarterly result
Hamburg, April 26, 2018 – According to preliminary figures, Aurubis AG achieved operating earnings before taxes (EBT)* of EUR 107 million in Q2 of fiscal year 2017/18 (previous year: EUR 100 million). Q2 of the previous year was influenced by a positive one-off extraordinary effect of EUR 26 million. Operating EBT for the first half of fiscal year 2017/18 thus amounts to EUR 186 million (previous year: EUR 118 million).
The company is therefore increasing its operating EBT forecast for the current fiscal year 2017/18:
The main reasons for the higher operating quarterly result compared to the prior-year period include significantly higher refining charges for copper scrap, considerably higher revenues from sulfuric acid sales, and an improved metal gain due to a slightly higher concentrate throughput with increased copper prices.
IFRS consolidated earnings before taxes (EBT) for the first half of fiscal year 2017/18 amount to EUR 233 million according to preliminary calculations (previous year: EUR 272 million). Q2 accounts for EUR 63 million of this amount (previous year: EUR 170 million).
*A definition of the key management indicator “operating earnings before taxes (EBT)” and the other key indicators can be found in Aurubis AG’s Annual Report 2016/17 on p. 59 and p. 211. The Annual Report 2016/17 is available at https://annualreport2016-17.aurubis.com/. The previous method for deriving the operating result from the IFRS results of operations was modified for the first time in Q2 2017/18 to include the adjustment by the effects from the application of IFRS 5, which we do not consider to be part of the operating result. Therefore, the operating result includes both scheduled depreciation and the adjustment of an investment in a joint venture accounted for using the equity method recognized in income, as it has been reported in previous quarters. The Interim Report First 6 Months 2017/18 will provide additional information (publication date: May 15, 2018).
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|Listed:||Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|
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