German copper producer Aurubis expects the effects of COVID-19 on this financial year ending September 30, 2021 to be very low and projects better earnings due to cost reductions.
In FY 2021, the company expects its EBT to be between €270–€330mn and operating return on capital employed (ROCE) to be between 9-12pc.
In the first nine months of the current fiscal (starting October 1, 2020) the total concentrate output rose by 3pc to 1.8mn t (1.6mn mt) from 1.7mn t in the same period in FY2020. In Q3 FY2021 (ending June 30, 2021) the total concentrate output dropped by 8pc to 591,000t compared to 642,000t in Q3 FY2020.
Wire rod output in the nine-month period rose by 17pc to 658,000t compared to 561,000t in the same period last year. In Q3 of this fiscal, wire rod output surged by 53pc to 228,000t from 149,000t in the year-ago quarter.
Special wire output from October to June increased by 8pc to 149,000t from 138,000t in the same period in FY2020. In the third quarter of FY2021, the special wire production grew by 11pc to 51,000t compared to 46,000t in Q3 FY2020.
Nickel production in the first nine months of FY2021 increased by 31pc to 2.9mn t compared to 2.2mn t in the same nine-month period in FY2020. In Q3 FY2021, nickel production grew by 11pc to 1mn t from 911,000mn t in the same quarter in last year’s fiscal.
Zinc output in the first nine months of the year was 6.9mn t from 962,000t in the same period last year. In Q3 FY2021, the zinc output grew to 2.2mn t from 962,000t in Q3 FY2020.
The company’s sales from October to June increased by 37pc to €12.1bn ($14.1bn) compared to €8.8bn in the nine-month period in FY2020. In Q3 FY2021, the company’s sales increased by 62pc to €4.6bn from €2.8bn in the same quarter last year.
Its EBITDA in the first three quarters of FY2021 surged by 63pc to €415mn from €254mn in FY2020. In Q3 FY2021, earnings increased by 59pc to €135mn from €85mn in Q3 FY2020.