Forecast Report

The statements made in the Forecast Report are based on our assessments of the overall economic conditions, of global copper market trends, and of Aurubis’ raw material and product markets. These assessments are based on analyses by economic research institutes, organizations, and industry associations, as well as on internal market analyses. The forecasts for the future business performance shown here take into account the segment targets, as well as the opportunities and risks posed by the expected market conditions and competitive situations in the forecast period of October 1, 2018 to September 30, 2019. The opportunities and risks affecting the Aurubis Group are explained in detail in the Risk and Opportunity Report. Our forecasts are regularly adjusted. The following statements are based on our knowledge in December 2018.

From our current perspective, there are numerous factors with the potential to influence the Aurubis Group’s markets. These include the slow-down in global economic growth and the political situation in the US, where the fiscal policies being pursued and trade relations with China could have particular effects on the markets. This, in turn, could influence China’s further economic growth trend. In Europe, monetary policy, Italy’s fiscal policy, and Brexit, that is, the British people’s vote to leave the EU, with the accompanying events and consequences, could also have an impact. Increasing protectionism around the world and the political crises in the MENA region (Middle East and North Africa) could also have a bearing on the market situation.