Aurubis 1Q Operating Loss EUR21 Million, Hit By Extraordinary Effects
31 Enero 2011 - 2:53PM
Noticias Dow Jones
German copper maker and processor Aurubis AG (NDA.XE) Monday
reported an operating loss of EUR21 million in the first quarter of
2011, down from an operating profit of EUR47 million a year
earlier, which the company attributed to the two-week shut-down of
a smelter in Hamburg and further extraordinary effects amounting to
around EUR50 million.
MAIN FACTS:
-Profit before tax fell to EUR135 million, compared to EUR172
million a year earlier.
-High inventory levels and significant metal price increases are
the main source of the negative impact on results, Aurubis
said.
-Furthermore the effect of metals for which prices are fixed at
a later stage, to be valued for accounting purposes at quarter-end,
also had a negative impact.
-Aurubis still expect higher earnings for the current fiscal
year compared to last year.
-The company will publish a full report for the first quarter on
Feb. 9.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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