Aurubis AG Posts Strong 2024/25 Results, Shares Touch Record Levels
German copper smelting and refining giant Aurubis AG delivered a robust financial performance for the 2024/25 fiscal year, with operating earnings before taxes of €355 million – a slight decline from the €413 million posted the previous year but comfortably within management’s guidance range of €330‑€370 million. The company’s operating EBITDA also remained solid, reaching €589 million versus €622 million in 2023, a marginal shortfall that was offset by strong cash‑flow generation and an upgraded dividend.
Dividend hike and cash‑flow resilience
In a move that underlines the company’s confidence in its cash‑generation capacity, Aurubis announced a 10 % increase in its quarterly dividend, raising the payout to €1.60 per share. The dividend upgrade comes on the back of a €590 million EBITDA and a record net cash flow, which, according to the management report, provides the liquidity required to support a significant investment programme aimed at expanding the company’s production footprint.
Share price reaction
The market reacted positively. Despite a volatile opening that saw shares dip to €120.30, the stock rebounded to climb more than 4 % to €123.50 on the day of the earnings release, surpassing the October 2025 high of €122.30. This surge lifted the shares to a new 52‑week high, reinforcing investor confidence in the company’s long‑term prospects.
Strategic outlook amid regulatory shifts
CEO Toralf Haag highlighted the potential long‑term benefits of the European Union’s Critical Raw Materials Act, noting that the legislation could create a favourable environment for Aurubis’ core business of copper refining. However, he also cautioned that negotiations over the inclusion of recycled materials within the EU are still challenging, which may affect supply chains and pricing dynamics in the near term.
Competitive pressures from China
The company faced external pressure from Chinese smelters, which are expanding capacity and potentially undercutting prices. Aurubis’ management has reiterated its focus on maintaining a cost‑efficient, high‑quality product mix and leveraging its extensive recycling network to secure a stable supply of raw material.
Conclusion
With a solid earnings base, a dividend increase, and a record share price, Aurubis AG demonstrates resilience in a competitive market and a clear strategy to capitalize on European regulatory changes. The company’s ability to deliver consistent cash flow and maintain investment momentum positions it well for continued growth in the copper and multi‑metal sector.
