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 global provider of non-ferrous metals and one of the largest copper recyclers worldwide. The company processes complex metal concentrates, scrap metals, and metal-bearing recycling materials into metals of the highest quality. Aurubis produces more than 1 million tons of copper cathodes annually, and from them a variety of products such as wire rod, continuous cast shapes, profiles, and flat rolled products made of copper and copper alloys. Aurubis produces a number of other metals as well, including precious metals, selenium, lead, nickel, tin, and zinc. The portfolio also includes additional products such as sulfuric acid and iron silicate.

Sustainability is a fundamental part of the Aurubis strategy. “Aurubis responsibly transforms raw materials into value” – following this maxim, the company integrates sustainable conduct and business activities into the corporate culture. This involves a careful approach to natural resources, responsible social and ecological conduct in everyday business, and sensible, healthy growth.

Aurubis has about 7,400 employees, production sites in Europe and the US, and an extensive service and distribution system in Europe, Asia, and North America.

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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