HAMBURG, Feb 6 (Reuters) - Aurubis AG ,
Europe's largest copper producer, on Monday posted a fall of
about 24% in quarterly earnings as high energy prices and
inflation burdened despite strong demand.
The company confirmed upbeat earnings estimates for its full
financial year.
Aurubis posted operating earnings before taxes (operating
EBT) in the first quarter to end-December of its 2022/23
financial year of 125 million euros ($134.95 million) from 164
million in the same year-ago quarter.
But Aurubis confirmed its December forecast of full-year
2022/23 operating EBT of between 400 million and 500 million
euros, despite the general economic slowdown and the pressure
from rising energy prices.
Aurubis CEO Roland Harings said he said the results were
“respectable” in view of pressures from increased costs and
expected full-year earnings to be in the upper end of the
forecast range.
($1 = 0.9263 euros)
(Reporting by Michael Hogan, editing by Paul Carrel)
Reuters Messaging:
michael.hogan.thomsonreuters.com@reuters.net))
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