HAMBURG (dpa-AFX) - Aurubis AG (AIAGY.PK, AIAGF.PK), a metals company, on Wednesday reported a decline in net earnings for the full year citing financial impact of the 'criminal activities' it reported earlier.
In August, the company had said it identified considerable discrepancies in target metal inventory as well as in individual samples from specific shipments of input materials for the recycling area.
For the 12-month period, the Group registered a net income of 141.142 million euros or 3.23 euros per share, lesser than 714.992 million euros or 16.37 euros per share, recorded for the same period last year.
The company noted: 'After the record result in fiscal year 2021/22, the deviations were mainly attributable to the financial impact of the criminal activities directed against Aurubis.'
Earnings before taxes moved down to 164.905 million euros from previous year's 935.255 million euros.
Operational result or EBIT stood at 160.494 million euros as against 927.653 million euros a year ago.
Operating earnings before taxes declined to 349 million euros from 532 million euros in 2022.
Revenue was 17.064 billion euros, down from last year's 18.521 billion euros. This decline was mainly due to lower metal prices compared to the same period of the previous year, especially those for industrial metals.
For the full year, the Group will pay a dividend of 1.40 euros per share, lesser than previous year's 1.80 euros per share.
Looking ahead, for the full year 2023-24, the Group expects operating EBT of 380 million euros to 480 million euros.
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