03.03.2023 12:10:25

EQS-News: Aurubis AG: Aurubis links factoring to sustainability criteria

EQS-News: Aurubis AG / Key word(s): Sustainability
Aurubis AG: Aurubis links factoring to sustainability criteria

03.03.2023 / 12:10 CET/CEST
The issuer is solely responsible for the content of this announcement.

Aurubis links factoring to sustainability criteria

  • Multimetal supplier links factoring program of over 150 million to ESG; target volume 300 million
  • Conditions tied to EcoVadis rating
  • Largest part of the financing for the Aurubis Group is now tied into its sustainability performance

Hamburg, March 03, 2023 Aurubis, a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide, has now also linked its factoring program with an initial volume of 150 million over three years to ESG, environmental and social governance, i.e., social corporate governance. The company plans to successively raise the amount to 300 million. 

Following a syndicated credit line and a bonded loan, Aurubis is now linking another instrument to the development of its EcoValdis rating. As such, the largest part of the financing for the Aurubis Group is now tied into its sustainability performance.

Sustainable action is not just a central component of our Group strategy; it is also essential to our understanding of who we are. So it only makes sense to apply this principle to all financing instruments as well. This is how we practice sustainability not just in everyday business, but also in all supporting functions and it highlights how integral sustainability is to our corporate strategy, Aurubis Chief Financial Officer Rainer Verhoeven says.

Aurubis is linking the new factoring program to its rating by the EcoVadis sustainability rating platform. Aurubis currently holds Gold Status with 73 out of 100 points, putting it among the top 2 % of companies in the non-ferrous metals industry.

EcoVadis annual assessment reflects Aurubis sustainability achievements, and the link means they now directly influence how the factoring interest rate is calculated. The multimetal provider receives more favorable factoring interest rates as its rating improves and vice versa; rates rise as the number of rating points drops. The link between the financing instrument and the EcoVadis rating thus represents a direct incentive for Aurubis to further advance its sustainability efforts. 



Aurubis - Metals for Progress

Aurubis AG is a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide. The company processes complex metal concentrates, scrap metals, organic and inorganic metal-bearing recycling materials, and industrial residues into metals of the highest quality. Aurubis produces more than 1 million tons of copper cathodes annually, and from them a variety of products such as wire rod, continuous cast shapes, profiles, and flat rolled products made of copper and copper alloys. Aurubis produces a number of other metals as well, including precious metals, selenium, lead, nickel, tin, and zinc. The portfolio also includes additional products such as sulfuric acid and iron silicate.

Sustainability is a fundamental part of the Aurubis strategy. Aurubis responsibly transforms raw materials into value following this maxim, the company integrates sustainable conduct and business activities into the corporate culture.  This involves a careful approach to natural resources, responsible social and ecological conduct in everyday business, and sensible, healthy growth.

Aurubis has around 6,900 employees, production sites in Europe and the USA, and an extensive distribution network around the world.

Aurubis shares are part of the Prime Standard Segment of the German Stock Exchange and are listed in the MDAX, the Global Challenges Index (GCX), and the STOXX Europe 600.

Further information at www.aurubis.com


03.03.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Aurubis AG
Hovestrasse 50
20539 Hamburg
Phone: +49 (0)40 / 78 83 - 31 78
Fax: +49 (0)40 / 78 83 - 31 30
E-mail: a.seidler@aurubis.com
Internet: www.aurubis.com
ISIN: DE0006766504
WKN: 676650
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1574435

End of News EQS News Service

1574435  03.03.2023 CET/CEST


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