Aurubis trims annual forecast further after metal theft

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After concluding its metal stocks inventory, Aurubis identified damage amounting to 185 million euros.

“The multimetal provider expects to claim insurance payouts amounting to around 30 million euros and seize assets from the criminals involved, which could partially compensate for the negative effect on earnings,” the company said in a statement.

The firm also downgraded its guidance for return on capital employed to 8-12% from previously 14-18%.

 

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