01/06/20

Aurubis Group announced fiscal year 2018-2019 results

Hamburg. The Executive Board and Supervisory Board of Aurubis AG (Aurubis) will recommend a dividend of € 1.25 per share at the Annual General Meeting on February 27, 2020. This resolution was passed at the company’s Supervisory Board meeting yesterday. If the shareholders at the Annual General Meeting accept this recommendation, the payout ratio will be 41 % (previous year: 26 %) of the operating consolidated net result. The dividend yield based on the Xetra closing price for Aurubis shares as at September 30, 2019 amounts to 3.1 % (previous year: 2.6 %). 

One-off impairment losses in Segment Flat Rolled Products and maintenance shutdowns impact fiscal year result

Aurubis generated an operating result of € 192 million (previous year: € 329 million) in fiscal year 2018/19. Compared to the extraordinarily good previous year, the operating result was strained in particular by accounting-related measurement effects – an ongoing impairment loss of € 31 million recognized against copper inventories as well as a € 20 million impairment loss recognized against the non-current assets of Segment Flat Rolled Products (FRP). The considerably lower operating performance due to planned and unplanned shutdowns at the smelter sites had an impact as well, which led to lower revenues from treatment and refining charges, among other effects. Expenses after the termination of the investment project Future Complex Metallurgy (FCM) also weighed on the fiscal year result. Moreover, higher energy costs and weaker demand for shapes and flat rolled products had a negative impact.

More information.