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Aurubis confirms 85% quarterly profit rise, raised earnings forecast -Breaking

by Mike Robinson

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© Reuters.

HAMBURG (Reuters). – Aurubis AG is Europe’s most important producer. It confirmed Monday a rise of approximately 85% in its quarterly profits. The company also reiterated increased earnings expectations for its financial year. High metal prices and strong output boosted the results.

Aurubis confirmed operating earnings before taxes in its first quarter of the new 2021/22 fiscal year, Dec. 31, of 152 millions euros ($173.75million), an increase of the 82 million recorded in the previous year.

On Jan. 19, the company released an advance earnings release.

Aurubis confirmed also its updated forecast for full-year 2021/22 operating EBT between 400m and 500m euros. This is up from the previous forecast between 320m and 380m euros.

Aurubis claimed that the company continues to enjoy a strong operating performance at its metal smelters, and high prices for their products.

($1 = 0.8748 euros)

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