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• EBT (Earnings Before Taxes): EUR333 million, a 30% increase from the previous year.

• Operating ROCE: 11.1%, slightly down from 11.2% in the previous year.

• Net Cash Flow: EUR52 million, despite increased working capital.

• Revenue: Maintained at the previous year's level.

• Gross Profit Margin: 18%, significantly higher than the previous year.

• Operating EBT Guidance: EUR380 million to EUR480 million for the full fiscal year.

• Operating EBITDA, EBIT, and EBT: Considerably higher compared to the previous year.

• Costs: Increased by 6% to EUR1.479 million, driven by personnel and other operating expenses.

• Equity Ratio: 54%, well above the target level.

• Debt Coverage: Well below one, despite strategic investments.

• Multi Metal Recycling Segment EBT: EUR109 million, down from EUR143 million the previous year.

• Custom Smelting and Product Segment EBT: EUR317 million, significantly exceeding the previous year's EUR173 million.

• Sulfuric Acid Revenue: Lower than the previous year, but markets are improving.

• Capital Expenditure: Increased due to strategic growth investments, particularly in US recycling plants.

• Warning! GuruFocus has detected 5 Warning Signs with AIAGF.

Release Date: August 05, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Aurubis AG (AIAGF) reported a strong operating result with an EBT of EUR333 million, exceeding the previous year's earnings by 30%.

• The company successfully completed the most extensive and complex maintenance shutdown in its history at the Hamburg site, investing around EUR0.25 billion.

• Aurubis AG (AIAGF) experienced a significantly higher metal result, high demand for cathodes and wire rod, and lower energy costs.

• The company maintained a positive net cash flow of EUR52 million despite increased working capital due to the Hamburg shutdown.

• Aurubis AG (AIAGF) confirmed its forecast range for the current fiscal year at EUR380 million to EUR480 million operating EBT, indicating confidence in its financial outlook.

Negative Points

• The company faced lower sulfuric acid revenues and lower income from refining charges, which impacted overall earnings.

• Operating ROCE slightly decreased to 11.1% from 11.2% in the first nine months of the previous year due to increased capital employed and negative financial impacts from criminal activities.

• The multi-metal recycling segment saw a decline in operating EBT to EUR109 million from EUR143 million in the previous year due to lower refining charges and reduced throughput of recycling materials.

• Aurubis AG (AIAGF) experienced increased costs, including a 6% rise in personnel costs and other operating expenses, partly due to legal and consultancy fees related to criminal activities.

• The sulfuric acid market, while showing positive momentum, still remained below the previous year's high pricing levels, affecting revenue potential.