Aurubis AG exceeds expectations for Q1 and increases full-year forecast

Hamburg, January 19, 2022 - Aurubis AG exceeds the market expectations for Q1 of its 2021/22 fiscal year, which ended on December 31, 2021: according to preliminary figures, the multimetal company generated operating earnings before taxes (EBT) of € 152 million for Q1 (previous year: € 82 million).

As a result, Aurubis is also increasing the forecast for operating earnings before taxes (EBT) for the entire fiscal year 2021/22 and now expects an operating EBT between € 400 million and € 500 million. The forecast range for operating EBT was previously between € 320 million and € 380 million.

Just in December, Aurubis reported the best annual result in the company's history. "In the first quarter of its current fiscal year, too, Aurubis demonstrated a very good operating performance at the sites of its smelter network. On top of that, we achieved considerably higher revenues from sulfuric acid sales and an improved metal gain, especially for the industrial metals copper, tin, nickel, and zinc - with increased metal prices. In the meantime, we're the leading European recycler of tin," explains Aurubis CEO Roland Harings in reference to the key reasons for the higher operating quarterly result compared to the same period of the previous year.

Furthermore, as of January 1, 2022, roughly 10 % higher treatment and refining charges for copper concentrates, a good ongoing level of refining charges for recycling materials, a significantly higher Aurubis copper premium, stronger demand for copper products, and substantially increased sulfuric acid prices will have a positive impact on the full-year result. Risks could arise from the influence of COVID-19 on the company's production and product sales, as well as from energy price developments.

IFRS consolidated earnings before taxes (EBT) in Q1 2021/22 amount to € 405 million according to preliminary calculations (previous year: € 226 million).

Aurubis is consistently developing into an international multimetal provider that caters to the megatrends of the future and, in recycling a variety of input materials, makes a meaningful contribution to a functional international circular economy. This is also apparent in the recently released company strategy, which is supported by three pillars: securing and strengthening the core business, pursuing growth options - especially in recycling - and expanding the company's industry leadership in sustainability.

The final figures for Q1 of the current fiscal year will be released on February 7, 2022.

Aurubis - Metals for Progress

Aurubis AG is a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide. The company processes complex metal concentrates, scrap metals, organic and inorganic metal-bearing recycling materials, and industrial residues into metals of the highest quality. Aurubis produces more than 1 million tons of copper cathodes annually, and from them a variety of products such as wire rod, continuous cast shapes, profiles, and flat rolled products made of copper and copper alloys. Aurubis produces a number of other metals as well, including precious metals, selenium, lead, nickel, tin, and zinc. The portfolio also includes additional products such as sulfuric acid and iron silicate.

Sustainability is a fundamental part of the Aurubis strategy. "Aurubis responsibly transforms raw materials into value" - following this maxim, the company integrates sustainable conduct and business activities into the corporate culture. This involves a careful approach to natural resources, responsible social and ecological conduct in everyday business, and sensible, healthy growth.

Aurubis has about 7,200 employees, production sites in Europe and the US, and an extensive service and distribution system in Europe, Asia, and North America.

Aurubis shares are part of the Prime Standard Segment of the German Stock Exchange and are listed in the MDAX and the Global Challenges Index (GCX). Further information at www.aurubis.com