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Aurubis Preliminary Q1 EBT Rises; Lifts FY Operating EBT Outlook

Aurubis AG (AIAGY.PK,AIAGF.PK) reported that its preliminary IFRS consolidated earnings before taxes or EBT for the first-quarter of fiscal year 2020/21 was 226 million euros, compared to 100 million euros in the previous year.

Operating EBT for the first-quarter of fiscal year 2020/21 was 82 million euros compared to 31 million euros last year. The result for the quarter fulfills the current market expectation for the first-quarter, the company said.

The company noted that the former Metallo Group companies, which have been included in the Aurubis Group since June 1, 2020, contributed to the operating result in the latest-quarter.

The company raised its operating EBT outlook for fiscal year 2020/21 to a range of 270 million euros - 330 million euros from the prior estimation of 210 million euros - 270 million euros.

The company now expects a further significant increase in refining charges for recycling materials, a higher metal result with increased metal prices, and strongly improved copper product demand.

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