A view shows Aurubis logo at the Aurubis site, on the day of European Council President Antonio Costa’s visit, in Hamburg, Germany, April 15, 2025. REUTERS
Dec 4 (Reuters) – Europe’s largest copper producer Aurubis reported annual earnings below market expectations on Thursday, weighed down by lower concentrate throughput at reduced treatment and refining charges.
Operating earnings before tax fell 14% to 355 million euros ($414 million) in the 2024/25 financial year, which was slightly below analysts’ expectations of 359 million euros in a company-provided poll.
The result was supported by high contributions from precious metals and sulfuric acid and high demand for copper products, Aurubis said.
However, that was partially offset by a slight decline in recycling revenues and higher ramp-up costs and depreciation from strategic projects such as the expansion at its plant in Pirdop, Bulgaria, it added.
Operating core profit (EBITDA) declined 5.3% to 589 million euros, missing analysts’ average forecast of 604 million euros.
Revenue rose to 18.17 billion euros from last year’s 17.14 billion, but lagged a consensus estimate of 18.37 billion euros.
The Hamburg-based producer of copper and other metals said it would increase its annual dividend to 1.60 euros per share, 10 euro cents higher than last year.
Reporting by Bernadette Hogg and Orest Dovhan in Gdansk, editing by Milla Nissi-Prussak
