HAMBURG, Could 10 (Reuters) – Aurubis AG NAFG.DE, Europe’s largest copper producer, on Monday posted sturdy quarterly earnings and stated it stays upbeat about prospects for its present monetary 12 months on expectations of excessive copper demand and costs as economies recuperate from the COVID-19 pandemic.
Aurubis posted working earnings earlier than taxes (working EBT) of 103 million euros ($125.18 million) within the second quarter to finish March of its 2020/21 fiscal 12 months, up 72% from the earlier 12 months.
Aurubis confirmed its earlier forecast of working EBT of between 270 – 330 million euros for the total present 2020/21 fiscal 12 months from Oct. 1, 2020.
“Aurubis continues to efficiently make its means by way of the coronavirus disaster,” stated CEO Roland Harings. “After one 12 months of the pandemic, we will say that its impacts on our consequence are nonetheless minor”
As a result of expectation that top metallic costs will proceed, Aurubis anticipates a constructive impact on its metallic consequence, it stated.
($1 = 0.8228 euros)
(Reporting by Michael Hogan, modifying by Riham Alkousaa)
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