NORDDEUTSCHE AFFINERIE AG (FRA:NDA) EQS-Adhoc: Aurubis AG: Supervisory Board approves comprehensive growth package and adjusts dividend policy
Transparency directive : regulatory news
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EQS-Ad-hoc: Aurubis AG / Key word(s): Strategic Company Decision/Dividend Aurubis AG: Supervisory Board approves comprehensive growth package and adjusts dividend policy Hamburg, December 20, 2022: The Aurubis AG Supervisory Board approved a comprehensive growth package for the Aurubis Group with investments amounting to € 530 million. The company anticipates an EBITDA totaling around € 130 million once the projects are completed and commissioned. Due to this accelerated growth course, the decision was made to suspend the current dividend policy of a payout of at least 25 % of operating consolidated net income. In the future, a new payout ratio will be set every year and take the financing needs of the Aurubis AG into account. The investment package approved today includes around € 250 million to move up the doubling of capacity at the growth project Aurubis Richmond in Georgia, USA by a second module and taking into account a capital expenditure adjustment for infrastructure requirements and inflation of € 90 million for the current project. For both modules, Aurubis plans to invest a total of € 640 million and anticipates an annual earnings contribution of around € 170 EBITDA starting in fiscal year 2026/27. The Supervisory Board also approved, as part of the investment package, the Complex Recycling Hamburg project for processing internal and external complex smelter intermediary products with an investment volume of around € 190 million. Aurubis projects an annual earnings contribution of around € 40 million EBITDA starting in fiscal year 2025/26 from the anticipated additional treatment and refining charges. Furthermore, the Supervisory Board assessed the operating result for Aurubis AG and approved the consolidated financial statements at today’s meeting. On this basis, the recommended dividend for fiscal year 2021/22 is € 1.80 (previous year: € 1.60) per share. Operating earnings before taxes (op. EBT) for fiscal year 2021/22 amounted to € 532 million (previous year adjusted: € 381 million). The forecast corridor for operating EBT in current fiscal year 2022/23 was set between € 400 and 500 million (previous year: € 500 to 600 million).
20-Dec-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Aurubis AG |
| Hovestrasse 50 | |
| 20539 Hamburg | |
| Germany | |
| Phone: | +49 (0)40 / 78 83 - 31 78 |
| Fax: | +49 (0)40 / 78 83 - 31 30 |
| E-mail: | a.seidler@aurubis.com |
| Internet: | www.aurubis.com |
| ISIN: | DE0006766504 |
| WKN: | 676650 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1518221 |
| End of Announcement | EQS News Service |
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1518221 20-Dec-2022 CET/CEST