Finance
Aurubis earnings beat forecasts as copper supply remains tight
Published by Global Banking & Finance Review®
Posted on August 5, 2025
2 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on August 5, 2025
2 min readLast updated: January 22, 2026
Aurubis exceeded earnings expectations due to tight copper supply. The company forecasts continued contributions from copper products and plans U.S. recycling expansion.
By Bernadette Hogg
(Reuters) -Aurubis on Tuesday reported higher-than-expected core profit for the first nine months of its 2024-2025 financial year, helped by higher contributions from sulfuric acid, copper products and precious metals.
Europe's largest copper producer said operating earnings before tax fell to 286 million euros ($330.44 million) in the first nine months of its financial year from 333 million euros a year earlier. That beat analysts' expectations of 281 million euros in a company-provided poll.
Aurubis said it expected the higher contributions from sulfuric acid, copper products and metals to continue for the rest of year, but that it also expected a continued tight supply of copper concentrates and recycling materials.
The company narrowed its forecast for the 2024-2025 financial year and now expects operating earnings in the middle of a range between 330 million euros and 370 million euros, from a previous range of 300 million euros to 400 million euros.
Aurubis also updated its guidance for operating return on capital employed, a metric for analysing profitability, to 8% to 10% from 7% to 11% previously.
The United States said on July 30 that a 50% tariff on copper pipes and wiring would kick in in August, a less wide-ranging restriction than expected.
The move sent Comex copper futures tumbling as the tariffs excluded copper cathodes, concentrates and scrap.
Aurubis' exports to the U.S. include products such as wire rod, shapes and flat rolled products, a spokesperson told Reuters, though direct exports to the U.S. account for less than 1% of total revenues.
Aurubis will be ramping up its copper recycling smelter in the U.S. this year, with potential for further investment in coming years.
"With our investment in Aurubis Richmond, we are becoming part of the domestic copper industry, that the U.S. administration intends to strengthen," a spokesperson said.
($1 = 0.8655 euros)
(Reporting by Bernadette Hogg; Editing by Matt Scuffham)
Aurubis reported operating earnings before tax of 286 million euros ($330.44 million) for the first nine months of its financial year.
Aurubis expects higher contributions from sulfuric acid, copper products, and metals to continue for the rest of the year, despite a tight supply of copper.
Aurubis narrowed its forecast for operating earnings to between 330 million euros and 370 million euros for the 2024-2025 financial year.
The U.S. announced a 50% tariff on copper pipes and wiring, leading to a drop in Comex copper futures, although copper cathodes, concentrates, and scrap were excluded.
Aurubis plans to ramp up its copper recycling smelter in the U.S. this year and is considering further investments in the coming years.
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