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Aurubis FY Profit Down; Sees Moderately Lower Operating EBT In FY

Copper producer Aurubis AG (AIAGY.PK,AIAGF.PK) reported that its net income attributable to shareholders for fiscal year 2017/18 declined to 290.25 million euros from 350.88 million euros last year.

Consolidated net income from continuing operations were 263 million euros, down from 318 million euros last year. Earnings per share from continuing operations amounted to 5.81 euros, compared to 7.04 euros in the prior year.

The Group's revenues increased to 10.42 billion euros, from the previous year's 9.88 billion euros, due to the higher average copper price.

For fiscal year 2018/19, the company expect stable-to-good copper product demand based on industry forecasts.

Overall, it expects moderately lower operating EBT and a slightly lower operating ROCE for the Aurubis Group in fiscal year 2018/19 compared to the previous year.

In fiscal year 2018/19, the company expects plant availability to be slightly lower than in the previous year owing to scheduled shutdowns in particular, as well as facility downtimes due to wear and tear, which it will remedy in the course of scheduled maintenance measures.

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