Aurubis Earnings Drop Amid Strategic Expansion and Rising Metal Prices

Aurubis Earnings Drop Driven by EPS Decline and Operational Costs

Aurubis AG reported a 25% revenue increase in Q1 of its 2025-2026 fiscal year. Earnings per share (EPS) fell 18% year-on-year.

The decline reflects lower treatment and refining charges for copper concentrates. It also results from higher scheduled depreciation and an early maintenance shutdown at its Hamburg smelter.

The Germany-based producer maintained profitability, earning over $100 million in late 2025. Rising metal prices, especially for precious metals, supported earnings. CEO Toralf Haag emphasized Aurubis’ multimetal capabilities and diversified earnings streams as key strengths.

Despite the EPS drop, the recycling division saw only a slight revenue dip. Input-material variations caused most of this decline. Aurubis’ primary smelters delivered stable results, showing operational resilience.

Strategic Expansion Supports Future Growth

Aurubis is executing a $2 billion investment program focused on capacity expansion and recycling projects. The Aurubis Richmond facility in Augusta, Georgia, is ramping up Phase 1. It will process 180,000 metric tons of printed circuit boards and other obsolete scrap annually.

The Complex Recycling Hamburg (CRH) project will increase processing capacity by 30,000 metric tons in 2026. These expansions aim to enhance recycled-content capabilities and strengthen Aurubis’ position in the global copper market.

The improved full-year forecast reflects strong metal prices and robust demand for copper products. These projects also support sustainability by increasing recycled content in Aurubis’ supply chain.

SuperMetalPrice Commentary:

Aurubis’ results show tension between rising revenues and temporary EPS setbacks due to costs and maintenance. Aggressive investment in recycling and copper processing positions the company for long-term growth. Traders and investors should monitor Richmond and CRH closely. Increased recycled output may influence copper scrap pricing and supply in Europe and North America.