General disclosures

Aurubis AG is a quoted corporate entity with a registered office in Germany.

As required by Regulation (EC) No. 1606/2002 of the European Parliament and the Council dated July 19, 2002 on the application of international accounting standards and Section 315a (1) of the German Commercial Code (HGB), the accompanying consolidated financial statements as at September 30, 2016 have been prepared in accordance with the International Financial Reporting Standards (IFRS) approved and published by the International Accounting Standards Board (IASB), as adopted by the European Union. The interpretations of the International Financial Reporting Interpretations Committee (IFRIC) have been taken into account.

The Supervisory Board released the consolidated financial statements for publication after they were approved on December 13, 2016.

The consolidated financial statements have been prepared in euros. If nothing to the contrary is indicated, all amounts are shown in thousands of currency units.

Current and non-current assets and liabilities are presented as separate categories in the statement of financial position. In this context, current assets and current liabilities are expected to be realized within 12 months of the balance sheet date or are held primarily for trading purposes.

During the reporting year, smaller adjustments were made in the presentation/classification of items in the statement of financial position. This mainly concerned the recognition of income tax receivables as “Other current non-financial assets”. The separate disclosure of income tax receivables has been discontinued as the related amounts are immaterial. In a similar manner, a more detailed analysis of financial fixed assets is no longer provided as these primarily comprise fixed asset securities. Furthermore, non-current financial liabilities are now disclosed as two separate reporting lines, “Non-current borrowings” and “Other non-current financial liabilities”. This is consistent with the presentation of current liabilities. In addition, this also allows the total amount of borrowings to be directly determined from the statement of financial position.

As a general rule, assets and liabilities have been measured at amortized acquisition or construction cost. Derivative financial instruments, investment property and “available-for-sale” financial assets are measured at fair value.

The preparation of consolidated financial statements in accordance with IFRS furthermore requires the Executive Board and authorized employees to make estimates and assumptions in significant areas that have an impact on the measurement and reported amount of the assets and liabilities in the statement of financial position, and on related income and expenses.

Sectors which particularly require the application of estimates and assumptions are presented under “Main estimates and assumptions”.

This report may include slight deviations in the totals due to rounding.