Aurubis AG: Extraordinary inventory concluded with earnings correction and new overall forecast for 2022/23

Hamburg, September 19, 2023: The previously announced extraordinary inventory of the metal stocks identified a difference in quantity with damages amounting to € 185 million that will negatively impact operating earnings before taxes (op. EBT) for fiscal year 2022/23. The company expects insurance payouts of about € 30 million and seized assets to partially compensate for these losses. The effects of the metal shortage will be recorded in the 2022/23 annual result.

The Group had retracted its previous full-year forecast of € 450 to € 550 million in the ad hoc release dated August 31, 2023. Taking into consideration the effects outlined above and the economic trend in Q4, the company now expects operating EBT to range between € 310 and € 350 million for fiscal year 2022/23.

As announced in the ad hoc release dated August 31, 2023, the Group conducted further investigations with the support of internal and external experts to shed light on the situation and to continue improving the security concepts. Initial measures have already been implemented and the planning of long-term security measures is moving forward as well. To monitor the progress of all of the measures, the Supervisory Board has formed a special committee for security and safety.

The final 2022/23 consolidated result and the 2023/24 full-year forecast will be released as part of the publication of the consolidated financial statements on December 6, 2023.

Contact:
Angela Seidler
Head of Investor Relations
E-Mail: [email protected]
Tel: +49 40 78 83 31 78