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Aurubis posts 24% quarterly profit rise, still upbeat for full year

Kitco News

HAMBURG, Aug 5 (Reuters) - Aurubis AG , Europe's largest copper producer, on Friday posted a rise of about 24% in quarterly profits and confirmed increased earnings estimates for its full financial year as strong demand and high output supported results.

Aurubis posted operating earnings before taxes (operating EBT) in the third quarter to end-June of its 2021/22 financial year of 103 million euros ($105.38 million) from 83 million in the same year-ago quarter.

Aurubis also confirmed it forecast of full year 2021/22 operating EBT of between 500 million and 600 million euros, increased in April from its previous forecast of 400 to 500 million euros, despite the challenging geopolitical situation and the associated marked rise in energy prices.

The forecast depends on continuing supplies of energy and raw materials despite the impact of the war in Ukraine, it said.

(Reporting by Michael Hogan, editing by Miranda Murray)

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