Aurubis AG sharpens 2025/26 outlook amid buoyant metal markets
Aurubis AG, the largest copper producer in Europe, announced on Friday a notable upward revision of its full‑year operating profit forecast for the 2025/26 financial year. The company now expects an operating pre‑tax profit (EBT) in the range of €425 million to €525 million, a lift of €50 million compared with the earlier guidance of €375 million to €475 million. The adjustment follows a mixed first‑half performance but is underpinned by a sustained rise in copper prices and stronger results from the recycling division, as well as improved revenue prospects in the sulphuric‑acid segment.
Why the upgrade?
| Factor | Impact |
|---|---|
| Persistently high copper prices | Copper remains a key commodity for global infrastructure and electrification projects, keeping input costs in the refinery business favorable. |
| Recycling business gains | Aurubis’s recycling arm has expanded, capitalising on increasing demand for recycled copper and precious‑metal by‑products. |
| Sulphuric‑acid segment | The company projects better sales in this chemical division for the second half, reflecting stronger industrial activity. |
| Market outlook | Global economic growth, especially in emerging markets, continues to support copper consumption. |
The company’s management highlighted that the new forecast reflects an improved market outlook across all segments. While the first half of the year showed a slight dip in earnings, the upward revision suggests that the company anticipates a rebound in the second half of the year.
Stock reaction
The announcement sent Aurubis’s share price soaring to an all‑time high. Trading on Xetra saw the stock climb to €193.5 shortly after the release, a significant leap from the €192.8 close recorded a day earlier. Analysts noted that the market’s reaction was in line with expectations, given the company’s strong fundamentals—market capitalization of roughly €8.34 billion and a price‑to‑earnings ratio of 13.71—and its solid position in the copper value chain.
Context within the company’s operations
Aurubis operates a network of smelting and refining facilities that produce copper rod, cakes, cathodes, billets, and bars, serving sectors such as power cables, building wires, and electrical applications. The firm also deals in precious metals, chemicals, and by‑product metals derived from copper smelting. The recent forecast upgrade underscores Aurubis’s strategic focus on both primary production and recycling, reinforcing its status as a key player in the materials sector.
Outlook
With the revised guidance, Aurubis signals confidence that it can leverage current market conditions to enhance profitability. Investors will be watching to see whether the second half of the year delivers on the expected recovery, particularly in the recycling and sulphuric‑acid segments. The company’s emphasis on sustainable practices and efficient resource utilisation remains a core pillar of its long‑term strategy.
In summary, Aurubis AG’s upward revision of its 2025/26 operating profit forecast reflects a combination of high metal prices, robust recycling growth, and improved chemical sector performance, positioning the company favourably as global demand for copper continues to rise.
