During its latest virtual Annual General Meeting, Aurubis, a world leader in non-ferrous metals manufacturing and one of the largest copper recyclers globally, outlined its strategic growth path, emphasizing a robust commitment to future expansion. The company is set to invest approximately €1.7 billion in strategic projects aimed at bolstering its core business, expanding recycling capabilities, and enhancing its sustainability leadership.
CEO Roland Harings highlighted the significance of Aurubis and its metals in facilitating the mobility and energy transitions, digitalization, and various innovations. With the 'Metals for Progress: Driving Sustainable Growth' strategy, Aurubis aims to elevate its operations, focusing on efficiency and sustainability to establish the most efficient and sustainable smelter network globally.
A cornerstone of Aurubis's growth strategy is the development of the first secondary smelter for multi-metal recycling in the USA, the Aurubis Richmond facility, expected to commence production ramp-up by the end of the current fiscal year. This facility, alongside projects in Belgium aimed at enhancing metal recycling efficiency, underscores Aurubis's commitment to advancing a circular economy.
Sustainability remains a central focus for Aurubis, with investments in projects like the expansion of photovoltaic plants in Bulgaria and the implementation of an advanced air filter system in Hamburg to reduce emissions. These initiatives contribute to Aurubis's goal of achieving climate-neutral production before 2050.
Despite facing challenges, including criminal activities against the company, Aurubis reported an operating EBT of €349 million for the last fiscal year, the third-best in the company's history, showcasing its robust earning potential.
The Annual General Meeting approved a dividend of €1.40 per share for the 2022/23 financial year, representing a 2% dividend yield and a 23% payout ratio of the consolidated operating result after taxes.
