General statement on the future development of the Aurubis Group
The Aurubis Group generated record earnings in fiscal year 2014/15. The situation on our raw material markets and other significant earnings drivers were positive. We were able to provide our facilities with a good supply of raw materials. Our main customer sectors were also economically robust.
For 2016 we expect operating earnings to be considerably lower than the prior year due to a weaker market outlook for copper scrap and sulfuric acid as well as the scheduled maintenance shutdown in our primary copper production in Pirdop, Bulgaria. The improvement projects we initiated in 2015 will only partially influence the earnings trend in the coming year and will make significant positive contributions to earnings in future fiscal years in particular.
This document contains forward-looking statements about our current forecasts of future events. Words such as “anticipate”, “assume”, “believe”, “predict”, “expect”, “intend”, “can/could”, “plan”, “project”, “should” and similar terms indicate such forward-looking statements. These statements are subject to a number of risks and uncertainties. Some examples include unfavorable developments in the global economic situation, especially a tightening of the raw material supply and a decline in demand in the main copper sales markets, an intensification of the sovereign debt crisis in the Eurozone, a worsening of the budget situation in the US, a deterioration of our refinancing options on the credit and finance markets, unavoidable occurrences beyond our control such as natural disasters, acts of terror, political unrest, industrial accidents and their effects on our sales, purchasing, production or financing activities, changes in exchange rates, a loss of acceptance for our products and services resulting in impacts on the establishment of prices and the utilization of processing and production capacities, price increases for energy and raw materials, production interruptions due to material bottlenecks, employee strikes or supplier bankruptcies, successful implementation of measures to reduce costs and enhance efficiency, the business outlook for our significant holdings, the successful implementation of strategic cooperation and joint ventures, amendments to laws, ordinances and official regulations as well as the outcomes of legal proceedings and other risks and uncertainties, some of which are described in the Risk and Opportunity Report in this Annual Report. If one of these uncertainties or difficulties occurs, or if the assumptions underlying the forward-looking statements prove to be wrong, the actual results could deviate considerably from the results mentioned or implicitly expressed in these statements. We do not intend, nor do we assume the obligation, to update forward-looking statements continuously, as these statements are based solely on the circumstances on the day of publication.