Interim Report
First 3 Months 2022/23
Conference Call
on February 6, 2023
Executive summary of first 3 months 2022/23
Operating EBT 3M 2022/23 of
€ 125 million
(PY: € 164 million)1
Net cash flow
€ -64 million
(PY: € -85 million)
1 Prior-year figures adjusted
ROCE
16.3 %
(PY: 17.9 %) 1
Confirmed forecast
range for FY 2022/23
€ 400-500 million
op. EBT
Stable market conditions and solid operative performance led to good three- month figures for FY 2022/23, despite higher energy prices and general cost inflation
Input-material-related decreased metal result. Metal result remains a significant earnings contribution for Group's earnings
Lower sulfuric acid revenues - with ongoing strong pricing for sulfuric acid products
Very good operating performance at our primary smelter in Pirdop Net cash flow low due to temporarily high working capital
Op. EBT for FY 2022/23 expected at the upper end of the € 400-500 million forecast corridor
Stable operating performance and stabilizing markets lead to a guidance at the upper end of the corridor
Aurubis Analyst Conference Call on February 6, 2023 | 2 |
Aurubis achieved strong 3-month results
3M | 3M | Change vs. | ||
(operating IFRS) | 2022/23 | 2021/221 | prior year | |
Revenues | €m | 4,096 | 4,406 | -7 % |
Gross profit | €m | 393 | 419 | -6 % |
EBITDA | €m | 172 | 210 | -18 % |
EBIT | €m | 124 | 163 | -24 % |
EBT | €m | 125 | 164 | -24 % |
Consolidated net income | €m | 99 | 127 | -22 % |
Operating ROCE | (%) | 16.3 | 17.9 | - |
(operating EBIT last 4 quarters) |
1 Prior-year figures adjusted
Aurubis Analyst Conference Call on February 6, 2023
Market conditions stable during Q1 2022/23
Trend in significant market prices and refining charges
100 % = Sept. 2018
450% | ||||||||||||||
400% | ||||||||||||||
350% | ||||||||||||||
300% | ||||||||||||||
250% | ||||||||||||||
200% | ||||||||||||||
150% | ||||||||||||||
100% | ||||||||||||||
50% | ||||||||||||||
0% | ||||||||||||||
09.2019 | 12.2019 | 03.2020 | 06.2020 | 09.2020 | 12.2020 | 03.2021 | 06.2021 | 09.2021 | 12.2021 | 03.2022 | 06.2022 | 09.2022 | 12.2022 | 03.2023 |
Sulfuric acid price
(spot CFR Brazil)
Copper price (settlement)
Exchange rate (US$/€)
European refining charges
for copper scrap no. 2 Copper premium
TC/RCs for copper concentrates (contract)
Aurubis Analyst Conference Call on February 6, 2023 | 4 |
Gross margin for the Group in 2021/22
Breakdown of income components in the Aurubis Group 3M 2021/22 YTD (YTD prior-year figures)
30 % (29 %) | ||
Treatment charges | 39 % (42 %) | |
for concentrate + | ||
recycling input | Metal result | |
~ € 540 million* (~ € 545 million*)
31 % (29 %)
Premiums + products
- Gross margin = Total of earnings components metal result, treatment charges for concentrate + recycling input and premiums + products
Aurubis Analyst Conference Call on February 6, 2023
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Aurubis AG published this content on 06 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 February 2023 08:19:00 UTC.