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Aurubis (NDA) investor relations material
Aurubis Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary4 Dec, 2025
Executive summary
Achieved robust results in a volatile market, with €18,171 million revenue and strong cash generation, despite lower EBT and market headwinds.
Advanced key strategic projects, including commissioning at Aurubis Richmond and Olen, and progress on Complex Recycling Hamburg and Pirdop expansions.
Maintained a diversified multimetal portfolio, strong sustainability leadership, and high recycled content across products.
Increased dividend to €1.60 per share, reflecting confidence in business outlook and cash flow.
Strategic focus shifted to maximizing returns from recent investments, with major projects in recycling and sustainability advancing.
Financial highlights
Revenue rose 6% to €18,171 million, mainly due to higher metal prices.
Operating EBT was €355 million, down 14% year-over-year; net income fell 22% to €261 million.
EBITDA reached €589 million, a 5% decrease from the prior year.
Net cash flow improved to €677 million from €537 million, driven by working capital improvements.
Free cash flow before dividend improved to €-95 million from €-219 million.
Outlook and guidance
FY 2025/26 guidance: operating EBT €300–400 million, EBITDA €580–680 million, ROCE 7–9%, net cash flow €640–740 million, and free cash flow break-even (pre-dividend).
Segment EBT guidance: CSP €280–340 million, MMR €80–140 million.
Expects increased metal result and higher product business contribution to offset raw material market challenges.
Annual CapEx to decline as strategic projects complete; focus on net working capital to fuel free cash flow.
Operating ROCE expected at 7–9%.
MMR segment turnaround plan
Capital allocation post-CapEx peak
How will new projects diversify earnings?
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Frequently asked questions
Aurubis AG is a leading provider of non-ferrous metals and one of the world’s largest copper recyclers. The company produces high-purity copper products, precious metals, and semi-finished goods, serving industries such as construction, automotive, and electronics. Aurubis focuses on sustainable metal production and recycling solutions. The company is headquartered in Hamburg, Germany, and its shares are listed on the XETRA.
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