Aurubis in the copper-fever

In Aurubis production is back to full speed. The high copper demand will lead to extra shifts - and brings the Group's return MDax jump. The hamburgers are now more optimistic for the full year.
Source: pa / dpa

Given the good business situation Aurubis expects a strong fiscal year 2009/10, which lasts until the end of September. The annual result will be considerably lower than last year, announced Europe's largest copper smelter in on Wednesday, without giving specific figures. This demonstrates the MDax group significantly more confident than last. To date only as an annual goal to continue the good operating results had been targeted levels.

Black again
How well the business is showing the first nine months. Revenue rose 50 percent to seven billion euros. Earnings before interest and tax (EBIT nine-fold) to 231 million euros. The bottom line Aurubis earned 151 million euros. In the same period last year, there had been due to the economic crisis, a loss of nine million euros.



This Aurubis benefited from higher copper prices, which rose by over 70 percent to nearly $ 7,000. Demand for copper products increased significantly. Even with copper scrap and sulfuric acid was again making more money. Aurubis is Europe's largest copper recycler.

In production even have extra shifts are driven to serve the orders from the electronics industry, engineering industry and automobile industry. The summer break was shorter in some areas for employees.
Aurubis
33.71
-1.29
-3.69%

Earnings decline in third quarter
However, went back to the pre-tax profit in the third quarter of fiscal year 2009/10 - by almost 14 percent to 44 million €. Aurubis justified this with special effects. In the same period last year, the Group had benefited from a rise in the copper stocks, which were not incurred in the quarter. Analysts had expected even less. They had only one capable Aurubis tax profit of 42.4 million euros.

Investors were initially pleased with the numbers and good views from Aurubis. The shares of the copper group to lay, but then turned in the course of the morning into the red.