Aurubis raises 2026 profit guidance

German copper producer Aurubis raised its full-year profit guidance on Friday, citing a stronger market and operating outlook that put it on course to outperform its earlier forecast.

The company said sustained high metal prices, expected revenue growth from processing recycled materials and higher sulphuric acid sales in the second half would support its performance.

Aurubis’ metals have a wide range of applications in industries ranging from renewable energy and defence to AI and automotive. Copper has experienced strong demand, as AI data centres and electrification require the metal.

Aurubis raised its full-year operating pretax profit (EBT) guidance to between 425 million euros and 525 million euros, up from a previous expectation of between 375 million euros and 467 million euros.

The Hamburg-based company said it had achieved preliminary operating EBT of 121 million euros in the three-month period ending March 31, significantly above the 99 million euros reported in the same period last year.

In the period that marks the second quarter of the company’s 2025/26 fiscal year, its operating earnings before interest, taxes, depreciation and amortization rose to 187 million euros, slightly below analysts’ expectations of 193 million euros in a company-provided poll.

Considerably lower treatment and refining charges, the fees paid by miners to smelters to refine concentrate into metal, had a dampening effect on results, as did increased scheduled depreciation for strategic projects, the company said.

These headwinds were more than compensated by increased metal prices, especially for precious metals, as well as by slightly higher earnings from the processing of recycling material, the metals refiner added.

Higher sales volumes for sulphuric acid and a slight rise in revenues from copper products were also supportive, the company said.

(By Bernadette Hogg; Editing by Matt Scuffham)