Aurubis records flat profits as product earnings decline
Dec 13, 2012 | 05:54 PM
| Mark Burton
Tags
Aurubis,
copper concentrates,
copper scrap,
product sales
LONDON — Hamburg, Germany-based copper producer Aurubis AG posted flat net income in its fiscal-year 2012, as stronger treatment and refining charges and recycling throughput offset an 80-percent decline in product earnings, the company said Thursday.
Consolidated net income was €207 million ($270.6 million) in the 12 months ended Sept. 30, down 2 percent year over year, as stronger revenues from concentrates and scrap processing offset an 80-percent drop in earnings from the products business. The products unit contributed €10.1 million ($13.2 million) to total operating earnings before tax of €296 million ($387 million).
The copper smelter produced 1.147 million tonnes of cathode across its primary and secondary units, unchanged from output in the 2010-11 period. ....
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