Published by Global Banking & Finance Review®
Posted on February 5, 2026
2 min readLast updated: February 5, 2026
Add as preferred source on GoogleAurubis, Europe's largest copper producer, reported a decline in first-quarter profit due to lower refining charges and a maintenance shutdown, missing market expectations.
Feb 5 (Reuters) - Europe's largest copper producer Aurubis reported first quarter operating core profit slightly below market expectations on Thursday, hit by lower treatment and refining charges for smelting copper concentrates and a maintenance shutdown at its Hamburg site.
Its operating earnings before interest, taxes, depreciation and amortization fell to 164 million euros ($193 million)for the first quarter, from 184 million euros a year ago. That slightly missed analysts' expectations of 169 million euros in a company-provided poll.
The Hamburg-based company said its net cash flow for the first quarter was -8 million euros, significantly worse than the previous year's 178 million euros, which it said in a presentation was because of a temporary increase in working capital and higher metal price levels.
The company was supported by a strong result for metals and stable product markets despite a turbulent geopolitical environment, chief executive Toralf Haag said in a statement.
Aurubis produces around 1.2 million metric tons of copper cathodes and 2 million tons of sulphuric acid, along with other metals such as gold, silver and tin.
Gold has experienced a substantial rally this year, gaining nearly 13% in January, with analysts expecting the bull run to continue.
Aurubis lifted its forecast for 2025/26 on January 28, now expecting operating earnings before taxes of 375-475 million euros.
This compares to a previous forecast of an EBT of 300-400 million euros for the fiscal year 2025/26. The Germany company also said its first quarter EBT stood at 105 million euros.
($1 = 0.8482 euros)
(Reporting by Bernadette Hogg and Danny Callaghan; Editing by Matt Scuffham)
The article discusses Aurubis' decline in profit due to lower copper refining charges and a maintenance shutdown.
Aurubis' earnings fell slightly below market expectations, with operating earnings at 164 million euros.
Lower treatment and refining charges and a maintenance shutdown at the Hamburg site affected profits.
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