Germany-based copper recycler Aurubis AG's consolidated net income fell 15% year over year to €60 million in the third quarter of its fiscal year 2017-2018.
The company's operating earnings before taxes, or EBT, fell 16% year over year to €78 million, according to an Aug. 9 release.
The results were affected by a scheduled repair shutdown that cut concentrate processing at the company's Hamburg smelter in Germany.
The company's revenues, however, rose 8% to €2.98 billion in the quarter. Meanwhile, copper concentrate processing in the third quarter fell to 618,000 tonnes, from 634,000 tonnes in the same year-ago period.
In the nine-month period, the company's EBT and consolidated net profit rose 25% on a yearly basis to €264 million and €201 million, respectively. Revenues in the period increased by 7% to €8.75 billion.
Jurgen Schachler, chairman of the executive board, said the company expects its EBT to hit the upper end of its growth forecast of between 5.1% and 15% in its fiscal 2018, compared to the year-ago EBT of €298 million.
The company expects its efficiency measures to yield project success of €200 million by fiscal year 2019-2020.