(Reuters) -Aurubis on Tuesday reported core profit for the first nine months of its 2024-2025 financial year which beat market expectations, helped by higher contributions from sulfuric acid, copper products and precious metals.
Europe’s largest copper producer said operating earnings before tax (EBT) fell to 286 million euros ($330.44 million) in the first nine months of its financial year, from 333 million euros a year earlier. That beat analysts’ expectations of 281 million euros in a company-provided poll.
Aurubis said it expected the contributions from sulfuric acid, copper products and metals to continue for the rest of the financial year, but that it also expected a continued tight supply of copper concentrates and recycling materials.
The Hamburg-based company narrowed its forecast for the 2024-2025 financial year and now expects operating EBT between 330 million euros and 370 million euros from a previous range of 300 million euros to 400 million euros.
Aurubis said in a statement it expected the result would likely come in at the middle of the range.
Aurubis also narrowed its guidance for operating return on capital employed, a metric for analysing profitability, to between 8% and 10% from between 7% and 11% previously.
($1 = 0.8655 euros)
(Reporting by Bernadette Hogg; Editing by Matt Scuffham)
