Aurubis identifies serious indications of shortfall in metals
Hamburg | Thursday, August 31, 2023
During a scheduled review of metal inventories, Aurubis has identified considerable discrepancies in target inventory as well as in individual samples from specific shipments of input materials for the recycling area. This evidence has led Aurubis to conclude that it has been the target of further criminal activity following the cases reported in June 2023. Aurubis has involved the State Office of Criminal Investigation.
The exact amount of the damages incurred by Aurubis cannot yet be accurately assessed. Aurubis has begun a special inventory of metal reserves and anticipates the final results at the end of September 2023. It cannot currently be ruled out that the damages might be in the low, three-digit-million-euro range. The losses will impact the 2022/23 fiscal year result. As such, the forecast range for the current 2022/23 fiscal year (€ 450-550 million) will not be achieved.
The Group’s Executive Board and Supervisory Board have initiated investigations by internal and external experts to clarify the facts and with a view to further improving the security concept.
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