The copper group Aurubis also wants to benefit from current megatrends such as AI, electric cars and the modernization of the energy infrastructure.
More copper is required for electric cars than for combustion engines and the expansion of the power grids devours a large amount of raw materials. The US government is now one of the critical minerals and in the European Union it is considered a strategic raw material. Since Aurubis currently has a lot of money in business expansion, in the financial year 2025/26 – as analysts expected – no big jumps at the profit can be expected. This was announced on Wednesday as part of a capital market day that will take place in London during the day.
In the long term, Hamburgers want to benefit from their new US location Richmond, which also offers protection against US customs policy. The recycling plant in Augusta (Richmond County) was opened in the US state of Georgia in September. The group is in a total of around 740 million euros in this new location, also to benefit from the recycling boom in the United States. A second module follows. First of all, start -up costs are incurred; From the 2026/27 financial year, Richmond is to make a contribution to a profit, the corporate management had already declared in February.
Money also flows into the Pirdop location in Bulgaria to expand electrolysis as well as for slag processing and to the work in Hamburg, where new precious metal processing. The schedule for the commissioning of all long -planned strategic projects extends to the 2026/27 financial year.
In the long term, the projects should then help to increase the return on the capital (ROCE) used in operational business to 15 percent, as Aurubis continued on Wednesday. For the financial year 2025/26 ongoing since October, the group management around Toralf Haag is initially aiming for 7 to 9 percent. The operational input tax is expected to reach 300 to 400 million euros – analysts expect 375 million euros on average. For comparison: Haag recently promised the center of 330 to 370 million euros for the financial year 2024/25, which was also characterized by high investments.
Already on Tuesday, Aurubis had announced shortly before the end of the Xetra trade to want to pay a higher proportion of his profit to his shareholders as a dividend. From 2025/26, the distribution rate should be up to 30 percent of the operational group result (after tax). For the past financial year 2024/25, the group strives for a distribution rate of 25 percent. The main shareholder is the Salzgitter steel company with almost 30 percent share of Aurubis.
For the Aurubis share, around three percent down to 116.80 euros on Wednesday morning. However, their course the day before was up to around eleven percent to a record high of EUR 122.30 and had only closed it a little. Despite the now expected reset, the 2025 price gains still add up to a little more than 50 percent.
The background to the course jump on the previous day was the expectation of a still strong European copper market. The Bloomberg news agency, citing a person familiar with the matter, reported that Aurubis wanted to raise the copper premium for its European customers by 40 percent to a record level of $ 315 per bin. This premium is a surcharge on the copper price of the London metal exchange LME, which Aurubis demands for high -quality cathodes, which are used, for example, in the production of watering roller wire and strand cast formats.
The Aurubis share in Xetra trading on Wednesday will occur by 6.23 percent to 112.90 euros.
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Hamburg/London (dpa-Afx)
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