Aurubis Shares

Aurubis shares have been traded on the stock market since 1998 and are listed in the MDAX. Our Investor Relations Department maintains continuous and open communication with all market participants.

Security identification number


International Securities Identification Number (ISIN) DE 000 67 66 504
Reuters code NAFG
Bloomberg code NDA_GR
IPO 07.07.1998


There are a total of 44,956,723 no-par-value bearer shares.
Aurubis shares are traded in the regulated market in Frankfurt and Hamburg and traded over-the-counter in Dusseldorf, Stuttgart, Berlin and Hannover.
Aurubis is a member of the Deutsche Börse's Prime Standard segment and is listed in the MDAX as well as in the Global Challenges Index (GCX).


Voting rights notifications can be faxed to the following number: +49 40 7883-3990.

    2019/20 2018/19 2017/18 2016/17 2015/16
Closing price as at fiscal year-end in € 58.14 40.89 60.24 68.54 49.88
Year high (close) in € 62.22 61.02 86.12 78.47 61.68
Year low (close) in € 32.31 35.60 55.44 46.79 37.54
Market capitalization as at fiscal year-end in € million 2,614 1,838 2,708 3,081 2,242
Number of shares as at fiscal year-end in '000 44,956.70 44,956.70 44,956.70 44,956.70 44,956.70
Dividend or recommended dividend in € 1.30 1.25 1.55 1.45 1.25
Payout ratio in % 35 41 26 28 34
Dividend yield in % 2.2 3.1 2.6 2.1 2.5
Operating earnings per share in € 3.73 3.08 5.87 5.21 3.64
Operating price/earnings ratio as at fiscal year-end   15.59 13.28 10.26 13.16 13.70


1 Xetra disclosures. 
2 Values have been “operationally” adjusted for measurement effects deriving from the application of IAS 2. In consequence, metal price fluctuations resulting from the use of the average cost method, as well as non-permanent write-downs or write-ups of metal inventory values as at the reporting date, are adjusted. Adjustments are also made for reporting date-related effects deriving from market valuations of metal derivatives that haven’t been realized, which concern the main metal inventories at our smelter sites. Fixed assets have been adjusted for non-cash-effective impacts deriving from purchase price allocations from FY 2010/11 onwards.
3 In FY 2016/17, the payout ratio definition was changed compared to the previous year. The new basis is the operating net result and no longer Aurubis AG’s unappropriated earnings.

Stock indices:

  • MDAX
  • Prime All Share


Sustainability indices:


   Global Challenges Index (GCX)




   oekom research







The following list contains the main analysts and banks who cover Aurubis. The list has been drawn up to the best of our knowledge. Aurubis cannot give any assurance that the list represents a full overview of all analyst reports available on the market and is no recommendation to buy any financial instrument of the Company.


Institution Analyst
Baader Bank Christian Obst
Bankhaus Lampe Marc Gabriel
Bank of America / Merrill Lynch Olivia Du
Commerzbank Ingo-Martin Schachel
Deutsche Bank Bastian Synagowitz
DZ Bank AG Dirk Schlamp
Exane BNP Paribas Jatinder Goel
Goldman Sachs Eugene King
Hauck & Aufhaeuser Henning Breiter
Haspa Ingo Schmidt
Independent Research Sven Diermeier
Kepler Cheuvreux Rochus Brauneiser
LBBW Jens Münstermann
M.M. Warburg Eggert Kuls
Morgan Stanley Ioannis Masvoulas
Nord/LB Holger Fechner
Quirin Bank Klaus Soer

Data as of February 2020

Any opinions, forecasts, estimates, projections or predictions regarding Aurubis’s performance made by the analysts are theirs alone and do not represent the opinions, forecasts, estimates, projections or predictions of Aurubis or its management. By providing the names of the analysts, Aurubis does not imply its endorsement of or concurrence with their reports, conclusions or recommendations.


Aurubis is proud of its stable shareholder structure, which is oriented to the long term and includes a high percentage of private shareholders.


Shareholder structure

as of 18.06.2021

* Voting rights attached to shares and instruments in accordance with Sec. 33, 34, and 38 WpHG

** According to Salzgitter announcement in its analyst conference on the first half of 2019


Pursuant to Sections 33 et seq. German Securities Trading Act (WpHG), shareholders that reach, exceed or fall below a certain percentage of voting rights in a German stock corporation must inform this stock corporation and the German Federal Financial Supervisory Authority (BaFin) about this development promptly, at the latest within four trading days.

In accordance with Section 40 (1) German Securities Trading Act (WpHG), Aurubis AG is obligated to publish these voting rights notifications via the DGAP (Deutsche Gesellschaft für Ad-hoc-Publizität mbH).

Our voting rights notifications pursuant to Sections 33 et seq. German Securities Trading Act (WpHG) are listed here.


Aurubis is traditionally known for its shareholder-friendly dividend policy. We want our shareholders to participate in the company’s success in accordance with the requirements of a capital-intensive business, taking internal and external growth into account.

In fiscal year 2016/17, we changed the definition of the payout ratio. The new basis is the operating consolitated net income, and no longer the Aurubis AG's unappropriated earnings. With this, we are in accordance with the usual presentation in the MDAX.


  Dividend Payout ratio
Fiscal year in € in %
2019/20 1,35 35
2018/19 1,25 41
2017/18 1,55 26
2016/17 1,45 28
2015/16 1,25 34
2014/15 1,35 24
2013/14 1,00 45
2012/13 1,10 53
2011/12 1,35 29
2010/11 1,20 26
2009/10 1,00 34
2008/09 0,65 50
2007/08 1,60 28
2006/07 1,45 50
2005/06 1,05 66
2004/05 1,00 82
2003/04 0,65 76
2002/03 - -
2001/02 0,65 68
2000/01 0,75 61
1999/00 0,75 74


Stock exchange anniversary: IPO on the Frankfurt Exchange on July 7, 1998


The Aurubis share celebrated its 20th anniversary on July 7, 2018. The copper share of yesteryear has delivered a shining performance since then. Those who purchased the Aurubis share in 1998 at the official offering price of 25 deutschmarks can appreciate the over 400 percent price increase as of today. Furthermore, with the exception of 2002/03, Aurubis has distributed a significant portion of its profits each year as dividends.

At the time of the IPO, the company still went by the name Norddeutsche Affinerie. This is only evident today in the ticker symbol NDA. About 22.4 million shares were placed in the course of the IPO. Based on the issue price, the IPO came to a volume of roughly 560 million deutschmarks. The subscription orders from Germany and abroad exceeded the offering by quite a bit. With a considerable proportion in free float, Aurubis shares enjoy a high level of popularity with retail and institutional investors alike, then as now. The Aurubis share has been a fixture of the German Stock Exchange index MDAX for several years and, since 2017, a member of the STOXX Europe 600.

The IPO was a milestone for the copper producer. It marked the start of an expansion phase that was reflected not least in the development of the share price. Today, Aurubis is making the logical shift from a successful copper producer to an innovative multi-metal company. The signs are therefore once again pointing towards growth – a shining prospect for the next 20 years as well.


This 1998 announcement advertised the new "Copper Share" offered by what was then known as Norddeutsche Affinerie AG


Ceremoniously opening the trading floor


Investor Relations

Angela Seidler

Vice President Investor Relations & Corporate Communications Phone: +49 40 7883-3178 Fax: +49 40 7883-3130

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