Fiscal Year Overview
Aurubis, a global leader in non-ferrous metals and a major copper recycler, reported operating earnings before taxes (EBT) of €349 million for the fiscal year 2022/23 ending September 30. This result is lower compared to the previous year’s €532 million but remains significant, ranking as the third-best in the company’s history. The performance reflects strong market demand and operational efficiency, despite challenges including criminal activities targeting the company.
Financial Impacts and Dividend Proposal
The company faced a substantial financial impact due to criminal activities, resulting in a metals shortfall of €169 million. Despite this, Aurubis is proposing a dividend of €1.40 per share at the upcoming Annual General Meeting, reflecting a 23% payout ratio of the operating consolidated net income.
Revenue Streams and Market Influence
Aurubis benefited from increased treatment and refining charges for copper concentrates and recycling materials. The company also saw higher wire rod revenues and benefitted from a significantly higher copper premium. However, the financial year also saw challenges, including lower metal prices, decreased sales prices for sulfuric acid, reduced demand for flat rolled products, and inflation-related cost increases.
Strategic Response and Outlook
CEO Roland Harings emphasized Aurubis’ resilience and potential in the face of challenges, including the criminal activities. The company is actively investigating these incidents and remains optimistic about capitalizing on global trends like electrification and sustainability in the current fiscal year. Aurubis’ strategic projects are also progressing, poised to strengthen its market position further.