HAMBURG (dpa-AFX) - Aurubis AG (AIAGY.PK, AIAGF.PK), a German non-ferrous metals provider, Thursday said its Supervisory Board and Executive Board are recommending a dividend of 1.30 euros per share, 5 cents higher than last year. The decision is backed by a good performance in the turbulent year 2020 and despite further uncertainties ahead.
Going ahead, the company maintained its recently raised fiscal 2021 outlook due to high plant availability and good market conditions.
The company continues to expect operating EBT of 270 million euros to 330 million euros. In fiscal 2020, operating EBT was 221 million euros.
Aurubis still forecasts ROCE of 9 to 12 percent.
The company still expects to achieve the synergy target of 15 million euros, which had originally been set for fiscal year 2023, in the current fiscal year.
Further, Aurubis said it is planning a sustainable cost reduction of 100 million euros per year. The necessary measures will be implemented until fiscal year 2023.
The company expects about half of the cost savings from improvements in Group procurement alone.
Aurubis, which reduced about 90 jobs in fiscal year 2020, plans to cut another 210 jobs by 2023.
Copyright RTT News/dpa-AFX