HAMBURG (Reuters) – Aurubis AG, Europe’s largest copper producer, on Monday confirmed a rise of about 85% in quarterly profits and repeated increased earnings estimates for its new financial year as high metal prices and strong output boosted results.
Aurubis reaffirmed operating earnings before taxes (operating EBT) in the first quarter of its new 2021/22 financial year ending Dec. 31 of 152 million euros ($173.75 million), up from 82 million in the same year-ago quarter.
The company had made an advance earning release on Jan. 19.
Aurubis also confirmed its new forecast of full year 2021/22 operating EBT of between 400 million and 500 million euros, up from its previous forecast of between 320 million and 380 million euros.
Aurubis said it continues to benefit from a good operating performance at its smelters and high metal prices.
($1 = 0.8748 euros)
(Reporting by Michael Hogan, editing by Miranda Murray)
