Inflated start-up prices for strategic initiatives, particularly for a brand new recycling plant in Richmond, US, have additionally weighed on subsequent yr’s outlook.
The German firm beforehand shut down its important plant in Hamburg for upkeep for months, as a way to enhance manufacturing and make it extra climate-friendly.
However the subsequent ramp-up dragged on on account of some technical challenges, Aurubis mentioned in a press launch, with out giving particulars.
The delay has weighed on output, leading to lower-than-expected incomes from remedy and refining prices for concentrates, recycling supplies and sulfuric acid, it added.
Aurubis sees earnings earlier than taxes (EBT) within the vary of 300-400 million euros ($333-445 million) within the 2024-2025 interval, down from 380-480 million euros it has guided for 2023-2024.
In accordance with preliminary outcomes, EBT got here in at 75 million euros within the fourth quarter, whereas in the identical interval final yr it stood at 92 million euros.
The Aurubis monetary yr ends on Sept. 30 and the corporate is because of launch remaining outcomes on Dec. 5.
($1 = 0.8983 euros)
(By Andrey Sychev; Modifying by Matthias Williams and Hugh Lawson)