General statement on the future development of the Aurubis Group

In fiscal year 2015/16, the Aurubis Group generated a result that was below the outstanding prior-year result. This was due to unfavorable developments in the relevant sub-markets, especially the markets for sulfuric acid and copper scrap. The scheduled shutdown in Bulgaria and a lower cathode premium reduced the result as well. This confirmed what we had already anticipated in the outlook included in our last Annual Report. For 2017, the market trend for copper scrap and sulfuric acid is difficult to forecast overall. We expect positive contributions from the Results Improvement Program, which we transitioned to a Continuous Improvement Program at the start of the new fiscal year. It will lead to additional optimizations at all of the sites.

In BU Primary Copper, a maintenance shutdown that is legally mandated every three years was carried out in October/November 2016, which will strain the result of Q1 2016/17. We expect high plant availability for the rest of the fiscal year.

We expect both operating EBT and operating ROCE to be significantly higher for fiscal year 2016/17 in BU Primary Copper.

In BU Copper Products, we anticipate slightly higher operating EBT and operating ROCE at the prior-year level.

Overall, we expect significantly higher operating EBT and slightly higher operating ROCE for the Group in fiscal year 2016/17 compared to the reporting year.

Qualified comparative forecast according to Aurubis’ definition

T 025
 
  Change in
operating EBT
ROCE delta as
a percentage
     
At prior-year level ± 2 % ± 1
Slight ± 3 to 10 % ± 1 to 5
Significant > ±10 % > ±5

Forward-looking statements

This document contains forward-looking statements about our current forecasts of future events. Words such as “anticipate”, “assume”, “believe”, “predict”, “expect”, “intend”, “can/could”, “plan”, “project”, “should” and similar terms indicate such forward-looking statements. These statements are subject to a number of risks and uncertainties. Some examples include unfavorable developments in the global economic situation, especially political developments in the USA, Europe and China, a tightening of the raw material supply and a decline in demand in the main copper sales markets. Further risks include a deterioration of our refinancing options on the credit and finance markets, unavoidable events beyond our control such as natural disasters, acts of terror, political unrest and industrial accidents, and their effects on our sales, purchasing, production or financing activities, changes in exchange rates, a drop in acceptance for our products resulting in impacts on the establishment of prices and the utilization of processing and production capacities, price increases for energy and raw materials, production interruptions due to material bottlenecks, employee strikes or supplier bankruptcies, successful implementation of measures to reduce costs and enhance efficiency, the business outlook for our significant holdings, the successful implementation of strategic cooperation and joint ventures, amendments to laws, ordinances and official regulations, as well as the outcomes of legal proceedings and other risks and uncertainties, some of which are described in the Risk and Opportunity Report in this Annual Report. If one of these uncertainties or difficulties occurs, or if the assumptions underlying the forward-looking statements prove to be wrong, the actual results could deviate considerably from the results mentioned or implicitly expressed in these statements. We do not intend, nor do we assume the obligation, to update forward-looking statements continuously, as these statements are based solely on the circumstances on the day of publication.