However that missed analysts’ common forecast of 99 million euros in a company-provided ballot.
In comparison with two years in the past, earnings had been down 13%.
Third-quarter EBT at Aurubis’s customized smelting and merchandise enterprise was 82 million euros, additionally down 13% from fiscal 2021-22, the final comparable 12 months after the corporate revised down final 12 months’s outcomes for the phase.
Income for the smelting enterprise was down 7% on the identical time in 2021-22.
One dealer stated the outcomes left analysts’ EBT expectations for the 12 months of 467 million euros wanting “fairly optimistic”.
“Good metallic costs ought to have compensated for the large upkeep shutdown in Hamburg,” he stated, referring to deliberate upkeep that concluded in July.
Copper costs have fallen about 18% from a document achieved in Might however are nonetheless excessive by historic requirements. Current weak U.S. jobs and Chinese language manufacturing facility information has depressed costs.
Metzler analyst Thomas Schulte-Vorwick stated the earnings miss was in all probability attributable to greater than anticipated prices associated to the Hamburg shutdown and to a brand new plant being opened in the USA.
Aurubis’ share worth was more likely to rely within the coming months on copper costs, with seemingly weak manufacturing within the US and China “posing the best danger”, he added.
Aurubis, which additionally offers in metals resembling gold and platinum, reiterated its full-year steering for EBT of 380-480 million euros and identified that its quarterly outcome was the most effective ever with a serious plant shutdown.
($1 = 0.9147 euros)