Press Release

Aurubis AG passes resolution to purchase a volume of up to € 200 million of its own shares

Hamburg, Wednesday, March 18, 2020

 

  • Strong equity ratio and good liquidity position enable buyback of up to 10 % of company’s own shares
  • Setup of another option for future acquisitions or financing

 

Today, the Executive Board of Aurubis AG passed a resolution on a share buyback program. The company’s own shares are being purchased on the basis of the authorization issued by the shareholders represented at the Annual General Meeting on March 1, 2018.

Based on its strong balance sheet position and its good liquidity situation – with an equity ratio of more than 50 % – Aurubis aims to purchase up to 10 % of the existing share capital (i.e., up to 4,495,672 company shares) in several tranches via the stock market, up to a total purchase price of € 200 million (excluding incidental acquisition costs). In light of the current market situation, Aurubis AG intends to purchase 3 % of the shares in the amount of up to € 60 million in the first tranche.

This will not affect Aurubis AG’s dividend policy. The buyback program shall begin on March 19, 2020 and conclude at the end of September 17, 2021 at the latest. The company’s purchase of its own shares serves to create treasury stock for possible acquisitions or future financing needs.

 

 

Aurubis - Metals for Progress

Aurubis AG is a leading worldwide provider of non-ferrous metals and the largest copper recycler worldwide. The company processes complex metal concentrates, scrap metals and metal-bearing recycling materials into metals of the highest quality.

Its main area of expertise is the processing and optimal recovery of concentrates and of recycling raw materials with complex qualities. With its range of services, Aurubis is a forerunner in the industry. The group of companies is oriented towards growth, efficiency and sustainability: The main components of the strategy are the expansion of the leading market position as an integrated copper producer, entering new markets in the area of industries of the future, the highly efficient and optimal production of additional metals and by-products from complex raw materials, as well as practicing a responsible attitude when dealing with people, resources and the environment.

Aurubis produces more than 1 million t of copper cathodes annually and from them a variety of copper products such as wire rod, continuous cast shapes, rolled products and strips, as well as specialty wire and copper profiles and alloys. Precious metals, selenium, lead, nickel and a series of other products such as sulfuric acid and iron silicate also belong to the product portfolio.

Aurubis has about 6,700 employees, production sites in Europe and the USA and an extensive service and sales system in Europe, Asia and North America.

Aurubis’ customers include companies in the copper semis industry, the electrical engineering, electronics and chemical industries, as well as suppliers of the renewable energies, construction and automotive sectors.

Aurubis shares are part of the Prime Standard Segment of the German Stock Exchange and are listed in the MDAX and the Global Challenges Index (GCX).

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