Aurubis AG·Basic Materials

Aurubis AG (AIAGY) Q1 2026 Earnings Call Transcript

Aurubis AG is uniquely positioned to benefit from surging data center and AI infrastructure demand for high-purity metals. Recent metals price increases, especially in silver, could drive AIAGF's FY2026 EBT to nearly EUR665 million, more than doubling year-over-year. I set a EUR300 share price target for Aurubis, implying substantial upside from the current EUR160 if metals prices hold or improve.
Aurubis AG processes metal concentrates and recycling materials in Germany. The company processes scrap metals, organic and inorganic metalbearing recycling raw materials, and industrial residues. It also offers wire rods and specialty wires, shapes, bars and profiles, industrial rolled products, and architectural rolled products. In addition, the company also produces gold, silver, lead, lead-bismuth alloy, lead-antimony litharge, tellurium metals, and tellurium dioxide. Further, the company engages in the recycling of copper, copper scrap, alloy scrap and other recycling materials, precious metals, and other non-ferrous metals; and product businesses. Additionally, it produces sulfuric acid, iron-silicate, smelter intermediates, and selenium, as well as produces various products from purchased copper and copper alloy scrap, electronic scrap, and industrial residues. The company was formerly known as Norddeutsche Affinerie AG and changed its name to Aurubis AG in April 2009. Aurubis AG was founded in 1866 and is headquartered in Hamburg, Germany.