Forecast Report

The statements made in the Forecast Report are based on our assessment of overall economic conditions, and the trend on both the global copper market and Aurubis’ raw material and product markets, which are based on analyses by economic research institutes, organizations and industry associations as well as internal market analyses. The forecasts for future business performance provided here are aligned with the BU targets as well as the opportunities and risks posed by expected market conditions and competitive situations in the forecast period of October 1, 2016 to September 30, 2017. The opportunities and risks affecting the Aurubis Group are explained in detail in the Risk and Opportunity Report. Our forecasts are regularly adjusted. The following statements are based on our knowledge in December 2016.

From the current perspective, the following uncertainties could influence the Aurubis Group’s markets: in particular, the result of the presidential election in the USA, the subsequent developments and the Federal Reserve’s pending interest rate decision could have an impact. In Europe, the Brexit decision, i.e. the British people’s vote to leave the EU, and the accompanying events and consequences, as well as the constitutional referendum in Italy in December 2016, could affect the markets. There will be key elections in several countries in 2017, including Germany and France, that have the potential to bring about changes. Political crises are still an influential factor in the MENA region (Middle East and North Africa).