Aurubis: Multimetal provider underscores strategic growth path at Annual General Meeting

Aurubis: Multimetal provider underscores strategic growth path at Annual General Meeting

• Strategic investments of € 1.7 billion currently in implementation
• CEO Roland Harings: “With our Metals for Progress: Driving Sustainable Growth strategy, Aurubis is continuing on a successful course”
• Annual General Meeting participants approve dividend of € 1.40 per share

Hamburg, February 16, 2024 — At its virtual Annual General Meeting yesterday, Aurubis AG, a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide, reaffirmed its growth strategy. The multimetal provider is currently investing around € 1.7 billion in strategic projects to secure and strengthen its core business, pursue growth options in recycling in particular, and continue expanding the company’s pioneering role in sustainability. In his speech, CEO Roland Harings emphasized: “Aurubis and its metals are the key to the mobility and energy transition, to digitalization, and to many innovations overall. With our Metals for Progress: Driving Sustainable Growth strategy, we’re continuing on a successful course, and the first investments will start production this year. We’re moving in the right direction: This massive investment package is another significant element in fulfilling our ambition to be the most efficient and sustainable smelter network in the world. We’re taking the company to a whole new level.”

Strategic growth projects for sustainable and innovative metal production

The first secondary smelter for multimetal recycling in the US is a key component of the growth course. The new Aurubis Richmond site will begin ramping up production at the end of the current fiscal year, processing around 90,000 t of complex recycling materials per year with the plant’s first stage. This will double with the expansion stage as of 2026.

“We’re also expanding our metal recycling expertise with two investment projects at our Belgium sites, which will come online this year as planned. They’ll begin making another important contribution to a functional circular economy,” Roland Harings underscored at the Annual General Meeting. At the Olen site, a state-of-the-art recycling plant will recover even more nickel and copper from the electrolyte generated by copper refining. In the future, Aurubis will process anode sludges — a copper electrolysis intermediate — more efficiently at the Beerse site to increase the recovery of valuable metals.

Targeting climate-neutral production well before 2050 and continuing its pioneering role in sustainability, Aurubis consistently optimizes its processes and invests in projects that contribute to further decarbonizing production. The multimetal company is quadrupling the output of its existing solar park at the Bulgarian site; Aurubis will operate the largest captive solar park in Southeastern Europe with a future total output of 42 megawatt peak. The company will be preventing around 28,000 t of carbon emissions per year starting mid-2025.

At its Hamburg site, Aurubis is doubling the performance of the Reducing Diffuse Emissions project, adding a second stage to the innovative and efficient air filter system. This represents another significant reduction in residual diffuse emissions from primary copper production. The multimetal company is also considerably upping its production of carbon-free industrial heat. Up to 28,000 Hamburg households will draw industrial heat from Aurubis as of heating period 2024/25, preventing up to 120,000 t of carbon emissions a year in the city of Hamburg.

A range of additional projects are in planning or realization, including the construction of a new plant for the secure and efficient processing of precious metals (Precious Metal Refinery Hamburg) and of a facility to increase the flexible input of complex recycling materials and valuable intermediate products (Complex Recycling Hamburg) at the Hamburg site.

Key strategic course set for future success

“Strategically and financially, Aurubis is ideally positioned for future success,” CEO Roland Harings said. “Despite the most recent challenges arising from the criminal activities directed against Aurubis, we achieved an operating EBT of € 349 million this past fiscal year, the third best result in company history. This is a sign of the earning power and strength you can expect from Aurubis in the coming years.”

€ 1.40 dividend approved

At the Annual General Meeting, shareholders approved the Executive Board and Supervisory Board’s proposal of a € 1.40 per share dividend payout for the 2022/23 fiscal year. This represents a dividend yield of 2 % with a payout ratio of 23 % of the operating consolidated result after taxes for the past fiscal year.

In total, 64.55 % of the share capital with voting rights were represented in the Annual General Meeting.

The full manuscript of the CEO’s speech and additional information about the Annual General Meeting are available on the Aurubis website at www.aurubis.com/agm

Aurubis - Metals for Progress

Aurubis AG is a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide. The company processes complex metal concentrates, scrap metals, organic and inorganic metal-bearing recycling materials, and industrial residues into metals of the highest quality. Aurubis produces more than 1 million tons of copper cathodes annually, and from them a variety of products such as wire rod, continuous cast shapes, profiles, and flat rolled products made of copper and copper alloys. Aurubis produces a number of other metals as well, including precious metals, selenium, lead, nickel, tin and zinc. The portfolio also includes additional products such as sulfuric acid and iron silicate.

Sustainability is a fundamental part of the Aurubis strategy. “Aurubis responsibly transforms raw materials into value” — following this maxim, the company integrates sustainable conduct and business activities into the corporate culture. This involves a careful approach to natural resources, responsible social and ecological conduct in everyday business, and sensible, healthy growth.

Aurubis has around 7,200 employees, production sites in Europe and the US, and an extensive distribution network around the world.

Aurubis shares are part of the Prime Standard Segment of the German Stock Exchange and are listed in the MDAX, the Global Challenges Index (GCX), and the STOXX Europe 600.

More information at www.aurubis.com