Explanation of relevant opportunities

Rising global demand for copper and technology metals

Copper is one of the most important metallic raw materials. Demand for copper is aligned with world economic growth, especially in the electrical, electronics, construction and automotive industries. Global trends such as increasing energy scarcity, rising urbanization, the growth of the world’s middle class, digitalization and electromobility will continue to not only increase copper demand in the long term, but also the demand for technology metals such as tellurium, nickel, platinum and palladium. If the economy and the demand for our products develop more favorably than currently expected in the markets relevant for us, this could have a positive influence on the Aurubis Group’s earnings.

Positive development in treatment and refining charges and market prices for our products

The Aurubis Group’s earnings situation will be largely determined by the treatment and refining charges for copper concentrates, copper scrap and recycling materials, and by the market prices for our products, such as sulfuric acid. If treatment and refining charges and market prices for our products develop more favorably than currently forecast, this could positively impact the Aurubis Group’s earnings.

Increasing significance of sustainability and resource efficiency

Aurubis is the worldwide leading recycler of copper and complex secondary raw materials. In light of the rising importance of resource efficiency with regard to sustainability, we expect demand for recycling solutions to continue growing. This is also supported and promoted by national and international law. Thanks to our recycling activities and proximity to our copper product customers, we consider ourselves to be in a position to offer expanded solutions for closed recycling systems. If national and international recycling regulations become broader and demand for recycling solutions in our markets increases more strongly than expected, this could positively affect the Aurubis Group’s procurement situation and therefore its earnings.

Further development of expertise in complex raw material processing

Both primary and secondary raw materials are becoming more complex, in that their copper contents are decreasing and the concentrations of tramp elements and impurities are increasing. A particular strength of Aurubis already consists of processing complex primary and secondary raw materials. Indeed, the company’s FCM project is dedicated to just this and contributes to achieving efficient and resource-friendly production processes for the raw materials of the future. If we build up additional competencies in this area, this could positively influence the Aurubis Group’s earnings.

Continuous improvement of processes and cost position as well as achievement of synergies

Our markets are globally competitive. Operating excellence is therefore exceedingly important for us. We continuously work on optimizing our processes and improving our cost position. Furthermore, we are always identifying and implementing the synergy potential arising from our position along the value chain. If we go beyond the targets connected to initiated improvement measures, this could have a positive impact on the Aurubis Group’s earnings.

Capacity expansion, linked with internationalization

We see additional growth potential in the expansion of our processing capacities in regions with favorable conditions, and in promoting greater proximity to our procurement and sales markets. We will continue investing in our existing sites but will also strive to further expand our supplier and production networks. If we are in a position to expand our capacities even more and/or with lower capital expenditure than expected, this could positively affect the Aurubis Group’s earnings.

Development of solutions for customers and suppliers

We work closely with our suppliers and customers at all levels of our value chain. This includes developing individual customer products, providing additional services, processing specific raw materials and offering additional closed recycling solutions. If the customer and supplier demand for our solutions is stronger than forecast, this could have a positive effect on the Aurubis Group’s earnings.

Innovations from future research and development activities

In the scope of our research and development activities, we work on innovations that create a competitive advantage for us in the future. For example, we’re working on making our processing methods more resource-efficient and on expanding our expertise in processing complex materials and extracting additional metals.