Aurubis shows $316m pre-tax loss; operating profit falls 62%

Copper producer Aurubis has recorded an IFRS pre-tax loss of €230 million ($316 million) for its 2012-13 fiscal year, compared with earnings of €516 million in the prior year, it said.

Deteriorating scrap margins, falling sulphuric acid prices and weak copper product sales damaged profitability throughout the year, offsetting stronger returns from the treatment of copper concentrates, the Hamburg-based company said on Monday December 16.

The company’s operating result – which strips out factors including inventory valuation effects from overall earnings – showed pre-tax profits of €114 million in the year, down 62% from the...

Published

Mark Burton

December 16, 2013

15:43 GMT

London