HAMBURG (dpa-AFX) - Copper producer Aurubis Ag (AIAGF.PK, AIAGY.PK) said its first half operating consolidated earnings before taxes soared to 180 million euros from 27 million euros last year. The main contributing factors were a good business trend and positive extraordinary effects of about 50 million euros.
The positive extraordinary effects of about 50 million euros primarily arose from low precious metal inventories as at the closing date. These extraordinary effects are expected to neutralize to some extent again in the course of the year. Overall, we expect a considerably higher operating consolidated EBT compared to the previous year, the company said.
IFRS consolidated earnings before taxes were 175 million euros, compared to loss of 120 million euros last year, mainly due to the positive business trend and increasing metal prices in euros. Lower metal prices had led to negative effects on earnings in the previous year.
Copyright RTT News/dpa-AFX