Aurubis AG

Quarterly Report • May 14, 2013

INTERIM REPORT First Half-year 2012/13

October 1, 2012 to March 31, 2013

CONTENTS

I. Highlights	3
II. Overview of Group key figures	4
III. Interim Group management report for the first half-year 2012/13	5
1. Copper market	5
2. Results of operations, financial position and net assets	6
3. Business Units	9
- Business Unit Primary Copper	9
- Business Unit Recycling/Precious Metals	11
- Business Unit Copper Products	12
4. Human resources	14
5. Corporate Governance	14
6. Research and development	14
7. Aurubis shares	14
8. Operating and strategic measures for corporate development	14
9. Risk and opportunity management	14
10. Outlook	15
IV. Interim consolidated financial statements for the first half-year 2012/13	17
1. Consolidated income statement	17
2. Consolidated statement of comprehensive income	18
3. Consolidated balance sheet	19
4. Consolidated cash flow statement	21
5. Consolidated statement of changes in equity	22
6. Selected notes to the consolidated financial statements	23
7. Consolidated segment reporting	26
V. Responsibility statement	27
VI. Dates and contacts	28

0BI. HIGHLIGHTS

The Aurubis Group generated earnings before taxes of € 50 million (€ 402 million last year) in the first half of fiscal year 2012/13 on the basis of IFRS. Operating EBT was € 141 million (€ 173 million last year).

Hamburg, May 14, 2013 – The revenues of the Aurubis Group (Aurubis) totaled € 6,708 million (€ 6,799 million last year) in the first half of 2012/13. The decrease was primarily due to lower precious metal sales.

Earnings before taxes (IFRS) amount to € 50 million (€ 402 million last year) in the reporting period. Operating earnings before taxes were € 141 million during the halfyear (€ 173 million last year). The positive earnings effect from inventory decreases as at the balance sheet date in the first quarter was neutralized again by an inventory build-up in the second quarter. The net cash flow was € 28 million, compared to € 110 million last year.

In BU Primary Copper, the copper concentrate throughput in the first half of the fiscal year was 7 % up on the prior-year period with higher treatment charges. Sulfuric acid output also went up, though revenues for it were below the very good prior-year level due to demand. Lower treatment charge revenues for copper scrap also had a negative effect.

In BU Recycling/Precious Metals, the throughput of complex secondary raw materials and copper scrap during the first half-year did not quite reach the level of the comparable period. At the same time, refining charges for copper scrap were down on the previous year due to the supply.

In BU Copper Products, business activities were affected by the still unfavorable economic trend, which differed from region to region. There was a differentiated trend in

the customer sectors as well. While demand for copper products in North America developed positively, European demand in all product sectors was still affected by the bad economy. The restructuring of Business Line Flat Rolled Products is still being implemented as planned.

The copper market remained fundamentally stable but was influenced by seasonal effects in the first half-year. Copper prices were over US\$ 8,000/t during the first few weeks of 2013 but fell below this mark starting in mid-February due to unclear economic signals from China. Furthermore, rising copper inventories on both metal exchanges (London and Shanghai) contributed to uncertainty among market participants.

The average copper price (settlement) on the London Metal Exchange (LME) for the first half of 2012/13 was US\$ 7,920/t and was therefore at the level of the prioryear period (US\$ 7,903/t). The LME settlement price for copper at the end of the first half-year (March 28) was US\$ 7,583/t.

Overall, the market situation for copper concentrates continued to stabilize. Availability increased and treatment and refining charges improved. Accordingly, the supply of copper concentrates in our plants was good.

Because of the decrease in copper prices, the initially good supply of copper scrap fell later in the half-year. This is a common trend that also affected the attainable refining charges.

	1st half-year 12/13	1st half-year 11/12	Difference
BU Primary Copper
Concentrate throughput	1,125	1,054	+7 %
Copper scrap input	108	98	+10 %
Sulfuric acid output	1,102	1,023	+8 %
Cathode output	471	464	+2 %
BU Recycling/Precious Metals
Copper scrap input	56	60	-7 %
KRS throughput	129	136	-5 %
Cathode output	99	103	-4 %
BU Copper Products
Wire rod output	289	336	-14 %
Continuous cast shapes output	70	83	-16 %
Rolled products and specialty wire	104	109	-5 %

Output (in 1,000 t)

1BII. OVERVIEW OF GROUP KEY FIGURES (IFRS)

		2nd quarter			1st half-year
		2012/13	2011/12	Difference	2012/13	2011/12	Difference
Revenues	€m	3,313	3,648	-9 %	6,708	6,799	-1 %
Gross profit	€m	243	388	-37 %	456	805	-43 %
Personnel expenses	€m	108	101	+7 %	216	210	+3 %
Depreciation and amorti zation	€m	30	31	-3 %	60	62	-3 %
Operating depreciation and amortization	€m	27	27	./.	53	54	./.
EBITDA	€m	77	229	-66 %	128	484	-73 %
Operating EBITDA*	€m	38	123	-69 %	212	246	-14 %
EBIT	€m	47	198	-76 %	68	422	-84 %
Operating EBIT*	€m	11	96	-89 %	159	192	-17 %
EBT	€m	37	189	-80 %	50	402	-88 %
Operating EBT*	€m	1	87	-99 %	141	173	-19 %
Net income	€m	27	136	-80 %	37	289	-87 %
Earnings per share	€	0.59	3.01	-80 %	0.80	6.40	-88 %
Operating earnings per share*	€	0.01	1.31	-99 %	2.32	2.62	-11 %
Net cash flow	€m	(60)	91	-166 %	28	110	-74 %
Capital expenditure (excl. financial fixed as sets)	€m	31	22	+41 %	69	48	+44 %
Copper price (average)	US\$/t	7,931	7,909	./.	7,920	7,903	./.
Human resources (average)		6,445	6,292	+2 %	6,422	6,298	+2 %

* Comments on the operating result are presented in the explanatory notes to the results of operations, financial position and net assets

Certain prior-year figures have been adjusted

2BIII. INTERIM GROUP MANAGEMENT REPORT FOR THE FIRST HALF-YEAR 2012/13

³1. COPPER MARKET

The copper market drew significant momentum from the macroeconomic environment in the second quarter of fiscal year 2012/13. In light of the progressing stability of the global economy, trust in the markets initially reflected a positive trend but was then overshadowed by budget conflicts in the US, the debt crisis in Cyprus and uncertainties about the sustainability of reform efforts in Southern Europe. The copper price trend was split accordingly. The copper price on the London Metal Exchange (LME) was robust at first and was generally over US\$ 8,000/t in the first half of the quarter. Price fluctuations below this mark recovered immediately. Starting in mid-February, the price weakened and reached a level of about US\$ 7,600/t. The average LME copper price (settlement) for the quarter was US\$ 7,931/t (Q1 2012/13: US\$ 7,909/t). The copper price averaged US\$ 7,920/t in the first half of 2012/13 and was therefore at the level of the prior-year period (US\$ 7,903/t).

Unclear signals from China, which is the market with the largest copper demand in the world at about 40 %, also impacted the situation. The infrastructure projects decided on in 2012 didn't show any visible effects on demand and industrial activity remained cautious. Chinese copper production increased at the same time. In addition, the country has high copper inventories in the warehouses of the Shanghai Futures Exchange and in bonded warehouses constructed in 2012. Chinese imports of refined copper decreased considerably during the quarter compared to the corresponding prior-year quarter. At the LME, copper inventories rose from 321,000 t to 570,000 t, or by about 78 %. This growth was due in part to limited physical demand but also high financial incentives for storage. Since interest among institutional investors on the raw material markets was low, they had low influence on copper market developments.

COPPER PRICE REMAINS STABLE AT OVER US\$ 7,000/t AFTER DECREASE IN APRIL

4B2. RESULTS OF OPERATIONS, FINANCIAL POSITION AND NET ASSETS

In order to portray the Aurubis Group's operating success independently of valuation influences from the use of the average cost method in inventory valuation in accordance with IAS 2, from copper price-related valuation effects on inventories and from purchase price allocations, primarily on property, plant and equipment from fiscal year 2010/11 onwards for internal management purposes, the results of operations are first of all presented on

the basis of the operating result and then augmented in a second part by the results of operations, financial position and net assets in accordance with IFRS.

The following table shows how the operating result for the first six months of fiscal year 2012/13 and for the comparable prior-year period are established.

13BResults of operations (operating)

Reconciliation of the consolidated income statement (in € million)

	1st half-year 2012/13	1st half-year 2012/13	1st half-year 2012/13	1st half-year 2011/12
	IFRS	Adjustment*	Operating	Operating
Revenues	6,708	0	6,708	6,799
Changes in inventories of finished goods and work in process	81	40	121	218
Own work capitalized	5	0	5	5
Other operating income	23	0	23	29
Cost of materials	(6,361)	44	(6,317)	(6,484)
Gross profit	456	84	540	567
Personnel expenses	(216)	0	(216)	(210)
Depreciation and amortization	(60)	7	(53)	(54)
Other operating expenses	(112)	0	(112)	(111)
Operating result (EBIT)	68	91	159	192
Interest income	6	0	6	7
Interest expense	(27)	0	(27)	(26)
Other financial result	3	0	3	0
Earnings before taxes (EBT)	50	91	141	173
Income taxes	(13)	(23)	(36)	(54)
Consolidated net income	37	68	105	119

* Values adjusted by valuation effects from the use of the average cost method in accordance with IAS 2, by copper price-related valuation effects on inventories and by effects from purchase price allocations, mainly property, plant and equipment, from fiscal year 2010/11 onward

The Aurubis Group generated consolidated operating net income of € 105 million in the first six months of fiscal year 2012/13 (€ 119 million last year).

IFRS earnings before taxes, which amounted to € 50 million, were adjusted by valuation effects of € 84 million in the inventories (€ -238 million last year) as well as effects amounting to € 7 million (€ 8 million last year) from the purchase price allocation of the Luvata RPD (Rolled Products Division). The resulting operating earnings before taxes amount to € 141 million (€ 173 million last year).

The Group's revenues decreased by € 91 million to € 6,708 million (€ 6,799 million last year) during the reporting period. This development is primarily a result of lower precious metal sales.

The cost of materials decreased by € 167 million, from € 6,484 million last year to € 6,317 million in the first six months of the current fiscal year. After incorporating the change in inventories of € 121 million compared to € 218 million in the previous year, own work capitalized and other operating income, a gross profit of € 540 million remains, which is lower than the previous year (€ 567 million).

Personnel expenses increased slightly from € 210 million last year to € 216 million during the reporting period. The increase was due to a rise in the number of employees and wage increases in particular. Last year, personnel expenses were impacted by one-time expenses (restructuring provisions).

Depreciation and amortization amounted to about € 53 million and were therefore at the prior-year level (€ 54 million).

At € 112 million, other operating expenses were also at the prior-year level (€ 111 million).

Operating earnings before taxes amounting to € 141 million during the first half-year and were determined by the following factors:

• » The copper concentrate throughput was up on the previous year. Higher treatment charges were collected at the same time.
• » Sulfuric acid sales increased due to the throughput, though sales prices were down on the very high prioryear level due to a weaker market situation.
• » Higher input quantities of copper scrap could not make up for significantly lower refining charges.
• » There was a good metal yield.
• » Sales volumes for all copper products were down on the prior-year level due to weak markets. Shape surcharges for copper products were at a stable level overall.

Operating earnings before interest and taxes (EBIT) were € 159 million compared to € 192 million last year.

Net interest expense increased slightly by € 2 million to € 21 million compared to the previous year (€ 19 million). The increase is mainly due to a one-time payment connected to early loan repayments and lower interest income.

After incorporating the financial result, operating earnings before taxes (EBT) reached € 141 million (€ 173 million last year). An operating consolidated net income of € 105 million (€ 119 million last year) remains after deducting the tax expense. Operating earnings per share amounted to € 2.32 (€ 2.62 last year).

Return on capital (operating)

At 17.1 %, the operating ROCE (EBIT rolling last 4 quarters) was below the prior-year level (20.8 %).

Net assets (operating)

The difference between fixed assets in accordance with IFRS and operating fixed assets amounted to € -67 million as at March 31, 2013. The difference between inventories in accordance with IFRS and operating inventories was € -748 million. Operating fixed assets

GOOD OPERATING EBT

EBT 2012/13 (in € m, rounded up)

thus amounted to € 1,318 million, with operating inventories amounting to € 1,422 million. Based on equity and deferred tax liabilities in accordance with IFRS, the difference had an effect of € -560 million on operating equity and € -255 million on operating deferred tax liabilities.

Results of operations (IFRS)

The Aurubis Group generated consolidated net income of € 37 million in the first half of fiscal year 2012/13 (€ 289 million last year).

Group revenues decreased by € 91 million to € 6,708 million in the reporting period (€ 6,799 million last year), primarily due to lower precious metal sales.

The change in inventories decreased by € 273 million to € 81 million (€ 354 million last year). The cost of materials decreased from € 6,382 million in the previous year to € 6,361 million.

At € 456 million, gross profit was € 349 million down on the gross profit of the previous year (€ 805 million). The decrease is primarily the result of falling metal prices during the current reporting period and rising metal prices in the comparable prior-year period. The use of the average cost method leads to metal price valuations that are close to market prices. Metal price volatility therefore has direct effects on changes in inventories/material expenditures and hence on the gross profit. This is independent of the operating performance and is not relevant to the cash flow.

Personnel expenses increased slightly from € 210 million last year to € 216 million during the reporting period. The increase was due to a rise in the number of employees and wage increases in particular. Last year, personnel expenses were impacted by one-time expenses (restructuring provisions).

Depreciation and amortization amounted to € 60 million and was therefore at the prior-year level (€ 62 million).

At € 112 million, other operating expenses were also at the prior-year level (€ 111 million).

At € 68 million, earnings before interest and taxes (EBIT) were € 354 million down on the prior-year value (€ 422 million).

Net interest expense increased slightly by € 2 million to € 21 million compared to the previous year (€ 19 million). The increase is mainly due to a one-time payment connected to early loan repayments and lower interest income.

After incorporating the financial result, earnings before taxes amount to € 50 million (€ 402 million last year). An operating consolidated net income of € 37 million (€ 289 million last year) remains after deducting the tax expense. Earnings per share were € 0.80 (€ 6.40 last year).

Return on capital (IFRS)

At 9.3 %, the ROCE (rolling last 4 quarters) was below the prior-year value (21.9 %).

Net assets (IFRS)

Total assets decreased from € 4,889 million as at the end of the last fiscal year to € 4,767 million as at March 31, 2013 due first and foremost to a decrease in cash and cash equivalents owing to the repayment of borrowed capital in particular.

The Group's equity decreased marginally from € 2,197 million as at the end of the last fiscal year to € 2,175 million as at March 31, 2013. Overall, the equity ratio of 45.6 % is at the same level as the end of the last fiscal year (45.0 %).

Borrowings decreased from € 774 million as at September 30, 2012 to € 615 million as at March 31, 2013, mainly because of the accelerated repayment of part of the "Schuldscheindarlehen" (bonded loan) issued in February 2011. Current liabilities amounted to € 183 million as at March 31, 2013 (€ 234 million last year), and non-current liabilities were € 432 million (€ 540 million last year).

Financial position and capital expenditure (IFRS)

The net cash flow of € 28 million was € 82 million down on the prior-year figure (€ 110 million) due to the build-up of working capital.

Investments in fixed assets totaled € 69 million in the reporting period (€ 62 million in the previous year). Free cash flow for the first six months of 2012/13 thus totaled € -41 million, compared to a free cash flow of € 48 million last year. The cash outflow from investing activities totaled € 62 million compared to € 55 million last year.

The cash outflow from financing activities amounted to € 239 million, compared to a cash outflow of € 63 million in the first six months of the previous year. The higher cash outflow was mainly a result of the accelerated repayment of part of the "Schuldscheindarlehen" (bonded loan) issued in February 2011.

On March 31, 2013 cash and cash equivalents amounting to € 396 million were available to the Group (€ 484 million in the previous year).

3. BUSINESS UNITS

12BBUSINESS UNIT PRIMARY COPPER

Key figures

			2nd quarter			1st half-year
BU PRIMARY COPPER		2012/13	2011/12	Difference	2012/13	2011/12	Difference
Revenues	€m	1,978.1	2,035.2	-3 %	4,004.8	4,128.4	-3 %
Operating EBIT	€m	-1.2	47.7	-102 %	108.9	125.0	-13 %
Operating EBT	€m	-5.9	44.7	-113 %	102.1	117.4	-13 %
Operating ROCE (EBIT rolling last 4 quarters)	%	-	-	-	36.9	29.3	-

Prior-year revenues have been adjusted.

Business Unit (BU) Primary Copper produces high-purity copper from raw materials, such as copper concentrates and blister copper. Recycling materials and intermediate products from other smelters are processed as well.

The BU's main sites are the copper smelters in Hamburg (Germany), Pirdop (Bulgaria) and Olen (Belgium). In addition to copper, the smelters also produce sulfuric acid and iron silicate stone.

At € 4,005 million, the BU's total revenues are slightly below the prior-year level (€ 4,128 million in the previous year). The Business Unit's revenues are mainly determined by the metal prices of the metals processed and produced.

BU Primary Copper achieved operating earnings before taxes (EBT) of € 102.1 million (€ 117.4 million in the previous year). The € 15.3 million or 13 % decrease in earnings compared to the previous year is primarily a result of lower sulfuric acid revenues and lower revenues from treatment charges, which could not be compensated by improved concentrate treatment charges.

Raw material markets

The supply of copper concentrates developed favorably in the first half-year. Global smelter treatment charges rose by about 10 % on the market compared to the previous year. Our smelters were fully supplied with concentrates. The availability of copper scrap used in the BU was still satisfactory overall with much lower refining charges compared to last year.

Sulfuric acid market

Global demand for sulfuric acid decreased noticeably in the course of the first half of 2012/13. In additional to seasonal factors in the fertilizer industry, the economic situation in Southern Europe and Asia also had an effect. Global market prices declined accordingly.

Production

A total of 573,000 t of copper concentrates (524,000 t in the previous year) were processed in BU Primary Copper in the second quarter. The sulfuric acid output was 558,000 t (513,000 t in the previous year). At 237,000 t (233,000 t in the previous year), the cathode output was slightly up on the prior-year volume.

CONCENTRATE THROUGHPUTS SIGNIFICANTLY UP ON PRIOR-YEAR QUARTER

Concentrate throughput (in 1,000 t)

With a cumulated quantity of 1,125,000 t in the first two quarters (1,054,000 t in the previous year), concentrate throughput was considerably above the prior-year value.

Sulfuric acid output totaled 1,102,000 t in the half-year (1,023,000 t in the previous year). Overall, 471,000 t of cathodes (464,000 t in the previous year) were produced.

Hamburg

In the second quarter, 265,000 t of concentrates (270,000 t in the previous year) were processed at the Hamburg site. Overall, we smelted 554,000 t of concentrates (539,000 t in the previous year) in the first six months of the fiscal year.

The sulfuric acid output in the second quarter was 244,000 t (260,000 t in the previous year). A total of 516,000 t of sulfuric acid were produced in the half-year (515,000 t in the previous year).

Pirdop

Our primary smelter at the Bulgarian site in Pirdop processed 309,000 t of copper concentrates (255,000 t in the previous year) in the second quarter, significantly more than last year. A total of 571,000 t (515,000 t in the previous year) were therefore processed in the first two quarters of the fiscal year.

Based on the processed concentrate volume, 586,000 t of sulfuric acid (508,000 t in the previous year) were produced in the same period, 314,000 t (253,000 t in the previous year) of which are attributed to the second quarter.

The cathode output at the Pirdop site amounted to 112,000 t (111,000 t in the previous year) in the first two quarters, reaching almost exactly the prior-year quantity. A total of 57,000 t (57,000 t in the previous year) of the cathode output was produced in the second quarter.

Olen

The copper tankhouse in Olen was fully supplied. It produced 86,000 t of copper cathodes (87,000 t last year) in the second quarter for a total of 175,000 t in the first two quarters (174,000 t in the previous year).

CATHODE OUTPUT IN BU PRIMARY COPPER SLIGHTLY ABOVE PRIOR-YEAR QUARTER

Cathode output in BU Primary Copper (in 1,000 t)

BUSINESS UNIT RECYCLING / PRECIOUS METALS

Key figures

BU RECYCLING /			2nd quarter			1st half-year
PRECIOUS METALS		2012/13	2011/12	Difference	2012/13	2011/12	Difference
Revenues	€m	1,126.3	1,182.1	-5 %	2,467.1	2,452.0	1 %
Operating EBIT	€m	(7.0)	37.3	-119 %	38.9	66.2	-41 %
Operating EBT	€m	(10.3)	32.8	-131 %	32.1	59.9	-46 %
Operating ROCE (EBIT rolling last 4 quarters)	%	-	-	-	31.2	77.9	-

Prior-year revenues have been adjusted.

In BU Recycling/Precious Metals, high-purity copper cathodes are produced from a variety of recycling raw materials, and precious metals are extracted from primary and secondary raw materials. The main production sites are the Group's recycling center in Lünen and the secondary smelter and precious metal production facilities in Hamburg.

At € 2,467 million, revenues in the first half-year were at the prior-year level (€ 2,452 million). At € 32.1 million, operating earnings for the half-year are well below the very good prior-year level (€ 59.9 million). This is mainly a result of declining refining charges for copper scrap, a temporary change in the input mix of raw materials and higher scheduled costs for maintenance, energy and additional personnel.

Raw material markets

The copper scrap supply has become perceptibly scarcer: Physical availability decreased because of the falling copper prices. Traders often withheld volumes. Chinese buyers were active owing to a temporary arbitrage situation between the London Metal Exchange and the Shanghai Futures Exchange, but this did not significantly influence the market. The supply of complex raw materials such as residues and electronic scrap decreased slightly in this environment. In light of these factors, refining charges were still at a sufficient level but were below the very good prior-year figures.

Production

^ULünen

At 72,000 t in the second quarter, the KRS throughput was 20 % above the prior-year value (60,000 t). For the first half-year (129,000 t), the figure was nevertheless 5 % lower than the previous year (136,000 t). The

cathode output in Lünen was 49,000 t in the second quarter in light of a scheduled anode furnace standstill and was therefore 7 % below the previous year (52,000 t).

KRS THROUGHPUT STABILIZED AFTER A REPAIR STANDSTILL

^UHamburg

The recycling and precious metal production facilities in Hamburg were well utilized again in the first half-year. At 565 t, the silver output in the first half-year was lower (-8.2 %) than the previous year (615 t) due to lower silver contents in the raw materials. The gold quantity produced rose by 5.4 % to 19.4 t compared to the previous year (18.4 t) due to the input materials.

BUSINESS UNIT COPPER PRODUCTS

Key figures

			2nd quarter			1st half-year
BU COPPER PRODUCTS		2012/13	2011/12	Difference	2012/13	2011/12	Difference
Revenues	€m	2,418.9	2,648.6	-9 %	4,680.8	4,701.4	0 %
Operating EBIT	€m	10.7	14.6	-27 %	12.2	15.3	-20 %
Operating EBT	€m	5.0	10.9	-55 %	4.5	8.1	-45 %
Operating ROCE (EBIT rolling last 4 quarters)	%	-	-	-	2.6	5.9	-

Prior-year revenues have been adjusted.

In BU Copper Products, copper cathodes primarily produced internally are processed into continuous cast copper wire rod, copper shapes, rolled products and specialty products. The main production sites are Hamburg (Germany), Olen (Belgium), Avellino (Italy), Emmerich (Germany), Stolberg (Germany), Pori (Finland), Finspång (Sweden), Zutphen (Netherlands) and Buffalo (USA).

With revenues of € 4,681 million in the first half of 2012/13 (€ 4,701 million last year), BU Copper Products achieved operating earnings before taxes of € 4.5 million in the first half-year (€ 8.1 million last year). The situation remained weak in the EU, and the business lines continued their restructuring measures.

Product markets

In the second quarter of fiscal year 2012/13, the European copper product market was affected by the weak economic trend. Some positive impulses in Germany and, in some cases, Italy have not compensated for the unfavorable course of other national markets. Moreover, the typical recovery in spring was delayed. At the same time, the copper product business performed better in North America, driven by the construction industry. In regard to the main customer segments, the automotive industry in particular slowed down during the quarter. When it came to rod, however, the situation of the wire processing industry improved. The momentum expected from the energy turnaround in Germany still failed to materialize. From our perspective, the long winter and delays in implementation were the decisive factors for this. Our AU-RUBIS SHAPES business stabilized in the second quarter.

Production

Rod

In the first six months of fiscal year 2012/13, Aurubis produced 289,000 t of AURUBIS ROD. This is a decrease of 14 % in comparison to the first half fiscal year 2011/12 (336,000 t).

WIR ROD OUTPUT STILL WEAK DUE TO MARKET

Wire rod output (in 1,000 t)

Shapes

Aurubis cast 70,000 t of AURUBIS SHAPES in the first half of the fiscal year, which is 16 % less compared to the same period of the previous fiscal year (83,000 t).

Flat Rolled Products

In the first half of fiscal year 2012/13, Schwermetall Halbzeugwerk (50 % Aurubis holding) produced a total of 89,000 t (82,000 t last year) and is thus above the prioryear level.

While copper product sales continued to decline, brass and specialty materials were in higher demand. Order intake rose in the second quarter, although European semis plants continued to order at short notice. Demand in North America increased considerably.

Our plants in Pori, Zutphen, Finspång, Stolberg and Buffalo produced approx. 99,000 t of strip, about 5 % less than the first half of 2011/12. During the second quarter, the restructuring in the Business Line continued. There were additional relocations of strip production from Europe to Buffalo in the US. All of the significant strip products for the American market are now produced there as well. The relocation of the remaining production from Finspång to Zutphen is going according to plan and will conclude in the second half of this year.

Specialty wire output in Stolberg reached 4,650 t during the first six months, just slightly below the prior-year level (4,800 t).

Bars and Profiles

The production facilities relocated from Switzerland to Belgium were started up again in the second quarter. The output and productivity developed positively, but the sales markets are still suffering from low demand and overcapacities. Output during the first half-year was 1,800 t (3,000 t in the previous year).

SHAPE OUTPUT BELOW PREVIOUS YEAR DUE TO MARKET

Shape output (in 1,000 t)

ROLLED PRODUCT AND SPECIALTY WIRE OUTPUT DOWN ON PRIOR-YEAR LEVEL

Rolled product and specialty wire output (in 1,000 t)

5B4. HUMAN RESOURCES

The Aurubis Group had a total of 6,461 employees at the end of the second quarter (6,289 last year).

The increase in the number of employees is mainly due to production as well as various projects focused on the Hamburg, Lünen and Zutphen sites.

The Aurubis Group employees are primarily located in the following countries: Germany (3,655), Bulgaria (803), USA (668), Belgium (496), Sweden (222), Finland (201), the Netherlands (212) and Italy (127). Group-wide, 57 % of the workforce is employed in Germany and 43 % at other locations worldwide.

5. CORPORATE GOVERNANCE

The Supervisory Board appointed Dr. Frank Schneider to the Executive Board for three years starting May 1, 2013.

He is assuming the responsibilities of long-time Executive Board member Dr. Michael Landau, who is retiring at the end of May 2013.

^B6. RESEARCH AND DEVELOPMENT

During the reporting period, R&D activities concentrated on process and product improvements. In addition, there was a focus on developing new, innovative procedures to process and efficiently utilize complex raw materials.

Expertise for computer simulation processes continued to develop and showed initial successes, e.g. in the use of flow simulations for production procedures and facilities. Moreover, simulation processes were included more in process developments.

10B7. AURUBIS SHARES

The international stock markets were fairly volatile in the first six months of fiscal year 2012/13. After the election results in China and the US provided some reassurance at the end of 2012 and an agreement was reached about the so-called fiscal cliff in the US budget conflict, investors became more confident. These factors and positive economic expectations led to rising share prices worldwide at the beginning of 2013. In March, the Italian parliamentary election influenced investors' mood. The looming insolvency of Cyprus and darkening economic prospects weighed on the atmosphere on the stock markets at the end of the first quarter of the calendar year.

Aurubis shares rose by 9.3 % in the first half of the fiscal year. During this time, the MDAX increased by 21.4 % and the DAX recorded plus 8 %. The fiscal year started on October 1, 2012 with a price of € 46.54 (Xetra) and fell to the low of the reporting period, € 45.83, on October 15. As the first half-year went on, the shares recovered again and reached a new all-time high of € 57.24 on February

1. Towards the end of the second quarter, the price decreased again due to the unclear economic environment and the accompanying decrease in investments in the raw materials sector. Aurubis shares closed at € 49.58 on March 28, 2013.

The average daily trading volume on Xetra increased from 123,000 shares in the first quarter to about 130,000 shares in the half-year.

8. OPERATING AND STRATEGIC MEASURES FOR CORPORATE DE-VELOPMENT

In Hamburg, preparations for the large-scale shutdown in fall of this year are completely underway. In Pirdop, the process parameters were further optimized after implementing the first steps of the Pirdop 2014 project.

In BU Recycling/Precious Metals, the new anode slime processing facility is being commissioned at the Hamburg site. The facility will continue to be optimized. The first anode slime melt in the top-blown rotary converter is planned for mid-June. Afterwards, Aurubis will have the capacity to process all of the anode slime that accumulates in the Group in Hamburg.

In Business Line Rod+Shapes, additional measures were initiated to increase efficiency in production. The focus is on continuing to reduce specific energy consumption in particular.

In Business Line Flat Rolled Products, we combined measures to increase productivity and profitability in projects that are tailored to the individual sites. In Stolberg, we have made initial progress in decreasing throughput times, while in Pori, we are concentrating first and foremost on standardizing and optimizing processes and increasing sales volumes. In Buffalo, we are implementing an action plan in procurement, sales and production. Furthermore, the project to relocate production from Sweden is progressing according to plan and should lead to positive productivity and profitability effects, especially in Zutphen.

9. RISK AND OPPORTUNITY MANAGEMENT

The Aurubis Group's raw material supply was good again in the second quarter of fiscal year 2012/13. Copper concentrates were sufficient owing to our long-term contracts. There was also a satisfactory quantity of copper scrap during the reporting period. Despite a shortage in the supply on the scrap markets, we expect our facilities to be sufficiently supplied overall as copper prices recover.

The trend in the sulfuric acid markets was significantly weaker in the second quarter, so the sulfuric acid produced was only sold at lower prices, primarily in the spot market. Demand for copper products rose slightly in the second quarter but is still at a low level.

The concentrate throughput and utilization of copper production capacities were at a high level.

The energy prices were largely stable. The risk of price fluctuations for the German sites is reduced with a longterm electricity supply contract.

The liquidity situation was good. We covered trade accounts receivable with trade credit insurance as far as possible. No significant bad debts were recorded during the reporting period.

We limited risks from the fluctuating euro/US dollar exchange rate with appropriate hedging transactions. We countered the influences of fluctuating metal prices with suitable metal price hedging. We continuously track the risks associated with the European debt crisis.

10. OUTLOOK

Raw material markets

In general, a continued favorable situation is anticipated in the market for copper concentrates. An increasing supply from the mining industry will likely be confronted by limited smelter demand, so treatment and refining charges are expected to continue increasing.

The copper scrap supply is at a relatively low level owing to traders' decreased willingness to sell due to declining copper quotations recently. The supply of complex recycling materials has also diminished from its high level. European demand is stable and purchasing activities from Asia are at a normal level. As copper prices stabilize again, we expect the supply situation to ease and refining charges to recover.

Copper market

Although the copper price could not be disconnected from the price trend in the raw material sector in April, the fundamental market situation should be stable during the rest of the year. Economic risks cannot be ruled out and volatile copper prices are possible.

Positive signs are currently coming from China in particular, where copper inventories have been quickly and significantly reduced in bonded warehouses since April. The inventories at the Shanghai Futures Exchange are also declining. Both of these factors are indications that physical demand is resurging, and related business activities confirm this. In the course of this development, cathode premiums for delivery times at short notice have increased considerably.

The premium level on the spot market has increased in Europe as well, mainly due to low availability in this regional market. Copper inventories in LME warehouses

are largely bound to delivery regulations and are not directly available.

Furthermore, extensive maintenance standstills are scheduled at other copper smelters worldwide, which will also lead to production losses.

Product markets

^UCopper products

In light of the economic conditions in Europe, we do not expect a strong general upturn of copper product demand in the next few months. Demand for rod and shapes probably will not change much. In our view, momentum might build from the implementation of postponed infrastructure projects.

In our Flat Rolled Products business, we expect slightly growing deliveries to European customers. Momentum created by demand is noticeable in the form of orders placed at short notice. However, there is not a sustainable growth trend. North America is different: here we expect the situation to stabilize and order books to fill up. The market outlook in Asia is difficult to predict; the few impulses recorded do not indicate a sustainable recovery.

Sulfuric acid

The weak market environment continues overall. Fertilizer demand is expected to recover due to seasonal factors. On the supply side, various scheduled repair standstills in smelters in Europe and Asia will reduce global availability. In light of this, we expect the markets to recover in the next few months.

Copper production

We have planned an extensive repair standstill in concentrate processing at our Hamburg site for September and October 2013. The measures carried out will lead to a considerable decrease in the concentrate throughput in Hamburg in the fourth quarter. In spite of this, we expect the processing volume of copper concentrate to be slightly up on the previous year. Overall, we expect cathode output to be at the prior-year level, depending on scrap availability.

Expected earnings

On the whole, we view the copper market as well supported despite economic uncertainties. We expect copper prices to stabilize with ongoing volatility.

In BU Primary Copper, we expect the good earnings situation to continue, although the scheduled large-scale standstill in Hamburg will have an impact. The supply shortage of sulfuric acid should support the earnings trend in the fourth quarter.

In BU Recycling/Precious Metals, the earnings trend will depend on copper price development and, accordingly, the situation on the scrap markets. As scrap markets ease, results are expected to stabilize at the level of the comparable prior-year period during the second half-year.

Earnings in BU Copper Products will continue to be influenced by weak demand in accordance with economic development.

Due to the good earnings so far in the first half of fiscal year 2012/13, we anticipate satisfactory earnings for the entire year, which are nevertheless expected to be below last year's earnings due to weakness on the acid and copper scrap markets.

IV. INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE FIRST HALF-YEAR 2012/13

1. Consolidated income statement (IFRS) (in € thousand)

	1st half-year 2012/13	1st half-year 2011/12
Revenues	6,708,061	6,799,182
Changes in inventories of finished goods and work in process	80,881	354,155
Own work capitalized	5,595	5,122
Other operating income	22,653	28,717
Cost of materials	(6,361,320)	(6,382,484)
Gross profit	455,870	804,692
Personnel expenses	(215,412)	(210,037)
Depreciation and amortization	(60,236)	(62,062)
Other operating expenses	(111,977)	(110,864)
Operating result (EBIT)	68,245	421,729
Result from investments	0	6
Interest income	5,360	6,830
Interest expense	(26,829)	(26,182)
Other financial result	3,150	0
Earnings before taxes (EBT)	49,926	402,383
Income taxes	(13,336)	(113,767)
Consolidated net income	36,590	288,616
Income attributable to non-controlling interests	36,144	287,821
Consolidated net income attributable to Aurubis AG shareholders	446	795
Basic earnings per share (in €)	0.80	6.40
Diluted earnings per share (in €)	0.80	6.40

Certain prior-year figures have been adjusted

	1st half-year 2012/13	1st half-year 2011/12
Consolidated net income	36,590	288,616
Changes recognized directly in equity
Positions that can be reclassified in the income statement in the future
Market valuation of cash flow hedges	3,000	(4,122)
Market valuation of financial assets	1,369	4,796
Foreign currency differences	868	2,225
Deferred taxes on accumulated other comprehensive income	(2,618)	1,009
Positions that will not be reclassified in the income statement
Other changes	0	2,455
Other comprehensive income	2,619	6,363
Consolidated total comprehensive income	39,209	294,979
Consolidated total comprehensive income attributable to Aurubis AG shareholders	38,763	294,183
Consolidated total comprehensive income attributable to non controlling interests	446	796

2. Consolidated statement of comprehensive income (IFRS) (in € thousand)

Certain prior-year figures have been adjusted

3. Consolidated balance sheet (IFRS) (in € thousand)

ASSETS	3/31/2013	9/30/2012	3/31/2012
Intangible assets	90,341	90,353	92,350
Property, plant and equipment	1,258,397	1,249,317	1,210,157
Investment property	0	0	8
Interests in affiliated companies	1,310	1,310	1,272
Investments	871	871	670
Other financial fixed assets	34,466	33,112	45,169
Financial fixed assets	36,647	35,293	47,111
Fixed assets	1,385,385	1,374,963	1,349,626
Deferred tax assets	2,827	2,867	2,899
Non-current receivables and financial assets	48,545	68,706	73,104
Other non-current assets	747	674	620
Non-current receivables and other assets	49,292	69,380	73,724
Non-current assets	1,437,504	1,447,210	1,426,249
Inventories	2,169,782	2,059,641	2,316,705
Trade accounts receivable	566,060	524,660	609,470
Income tax receivables	18,883	16,244	7,283
Other current receivables and assets	177,813	171,269	167,733
Current receivables and other assets	762,756	712,173	784,486
Short-term security investments	425	364	427
Cash and cash equivalents	396,391	669,306	483,738
Current assets	3,329,354	3,441,484	3,585,356
Total assets	4,766,858	4,888,694	5,011,605

Certain figures as at 3/31/2012 have been adjusted

LIABILITIES	3/31/2013	9/30/2012	3/31/2012
Subscribed capital	115,089	115,089	115,089
Additional paid-in capital	342,782	342,782	342,782
Generated group earnings	1,726,551	1,747,002	1,668,281
Accumulated comprehensive income components	(8,872)	(11,491)	(14,949)
Equity attributable to shareholders of Aurubis AG	2,175,550	2,193,382	2,111,203
Non-controlling interests	3,492	4,043	3,496
Equity	2,174,945	2,197,425	2,114,699
Pension provisions	109,663	107,823	108,573
Deferred tax liabilities	375,241	402,274	403,982
Other non-current provisions	66,988	77,664	77,175
Non-current provisions	551,892	587,761	589,730
Non-current borrowings	431,591	540,270	679,742
Other non-current liabilities	17,916	32,747	23,482
Non-current liabilities	449,507	573,017	703,224
Non-current provisions and liabilities	1,001,399	1,160,778	1,292,954
Other current provisions	76,638	72,700	62,556
Current borrowings	183,204	234,197	61,507
Trade accounts payable	1,117,298	1,023,739	1,227,107
Income tax liabilities	14,150	12,631	37,922
Other current liabilities	199,224	187,224	214,860
Current liabilities	1,513,876	1,457,791	1,541,396
Current provisions and liabilities	1,590,514	1,530,491	1,603,952
Debt	2,591,913	2,691,269	2,896,906
Total equities and liabilities	4,766,858	4,888,694	5,011,605

Certain figures as at 3/31/2012 have been adjusted

4. Consolidated cash flow statement (IFRS) (in € thousand)

	1st half-year 2012/13	1st half-year 2011/12
Earnings before taxes	49,926	402,383
Depreciation and amortization	60,236	62,062
Changes in allowances on current assets	57,326	(195,996)
Change in non-current provisions	(12,468)	506
Net losses on disposal of fixed assets	(3,215)	42
Valuation of derivatives	24,678	(143,244)
Result from investments	0	(6)
Net interest expense	21,493	19,542
Income taxes paid	(42,952)	(51,550)
Change in receivables and other assets, including short-term security invest ments	(57,027)	(6,330)
Change in inventories	(166,035)	(346,309)
Change in current provisions	3,783	(2,529)
Change in liabilities (excl. borrowings)	92,682	371,090
Cash inflow from operating activities (net cash flow)	28,427	109,661
Additions to fixed assets	(69,234)	(61,717)
Proceeds from disposal of fixed assets	3,467	780
Interest paid	3,794	6,151
Dividends received	0	6
Cash outflow from investing activities	(61,973)	(54,780)
Proceeds from issuance of bonds and taking up borrowings	22,731	39,390
Payment for the redemption of bonds and borrowings	(180,789)	(25,289)
Interest paid	(19,673)	(21,201)
Dividends paid	(61,689)	(55,408)
Cash outflow from financing activities	(239,420)	(62,508)
Net changes in cash and cash equivalents	(272,966)	(7,627)
Changes from exchange rate changes	51	384
Cash and cash equivalents at beginning of period	669,306	490,981
Cash and cash equivalents at end of period	396,391	483,738

Certain prior-year figures have been adjusted

5. Consolidated statement of changes in equity (IFRS) (in € thousand)

				Ac la cu mu	d c he ive te om p re ns	ts p on en	Eq i ty t a u
	Su bs i be d cr i ta l ca p	A d d i t ion l a i d- in p a i ta l ca p	Ge d te ne ra i ty g ro up e q u	Ma ke lua t v r a t ion f c h o as f low he dg es	Ma ke t v lua r a f f t ion ina ia l o nc ts as se	Ex ha c ng e d i f fe re nc es	Inc om e tax	tr i bu ta b le to ha s re ho l de f rs o Au b is A G ru	No n l l ing tro co n in te ts re s	To ta l i ty eq u
Ba lan 9 / 3 0 / 2 0 1 1 t ce a s a	1 1 5, 0 8 9	3 4 2, 7 8 2	1, 2 9 6, 9 4 8	2, 5 7 7	( 2 4, 9 7 2 )	2, 9 7 3	5 6 5	1, 7 3 5, 9 6 2	4, 1 4 6	1, 7 4 0, 1 0 8
A d j tm t p t to us en ur su an I A S 8	0	0	1 3 5, 0 0 6	0	0	0	0	1 3 5, 0 0 6	1 4	1 3 5, 0 2 0
9 / 3 0 / 2 0 1 1 Ba lan t ce a s a f te d j tm t a r a us en	1 1 5, 0 8 9	3 4 2, 7 8 2	1, 4 3 1, 9 5 4	2, 5 7 7	( ) 2 4, 9 7 2	2, 9 7 3	5 6 5	1, 8 7 0, 9 6 8	4, 1 6 0	1, 8 7 5, 1 2 8
D iv i de ds i d n p a	0	0	( 5 3, 9 4 8 )	0	0	0	0	( 5 3, 9 4 8 )	( 1, 4 6 0 )	( 5 5, 4 0 8 )
Co l i da te d t inc ns o ne om e	0	0	2 9 0, 2 7 5	( ) 4, 1 2 2	4, 7 9 6	2, 2 2 5	1, 0 0 9	2 9 4, 1 8 3	7 9 6	2 9 4, 9 7 9
Ba lan t 3 / 3 1 / 2 0 1 2 ce a s a	1 1 5, 0 8 9	3 4 2, 7 8 2	1, 6 6 8, 2 8 1	( 1, 5 4 5 )	( 2 0, 1 7 6 )	5, 1 9 8	1, 5 7 4	2, 1 1 1, 2 0 3	3, 4 9 6	2, 1 1 4, 6 9 9
Ba lan 9 / 3 0 / 2 0 1 2 t ce a s a	1 1 5, 0 8 9	3 4 2, 7 8 2	1, 7 4 7, 0 0 2	( 2 3, 7 8 0 )	( 2, 3 7 2 )	8, 8 8 9	5, 7 7 2	2, 1 9 3, 3 8 2	4, 0 4 3	2, 1 9 7, 4 2 5
D iv i de ds i d n p a	0	0	-6 0, 6 9 2	0	0	0	0	( ) 6 0, 6 9 2	( ) 9 9 7	( ) 6 1, 6 8 9
Co l i da d inc te t ns o ne om e	0	0	3 6, 1 4 4	3, 0 0 0	1, 3 6 9	8 6 8	( 2, 6 1 8 )	3 8, 7 6 3	4 4 6	3 9, 2 0 9
/ / Ba lan t 3 3 1 2 0 1 3 ce a s a	1 1 5, 0 8 9	3 4 2, 7 8 2	1, 7 2 2, 4 5 4	( ) 2 0, 7 8 0	( ) 1, 0 0 3	9, 7 5 7	3, 1 5 4	2, 1 7 1, 4 5 3	3, 4 9 2	2, 1 7 4, 9 4 5

Certain figures as at 9/30/2011 have been adjusted

6. Selected notes to the consolidated financial statements

The accompanying interim group report of Aurubis AG includes interim consolidated financial statements and a Group management report in accordance with the stipulations of the German Securities Trading Act. The interim consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) for interim reporting as applicable in the EU. The accounting and valuation principles of the financial statements as at September 30, 2012 have been applied without amendment, with the exception of accounting standards that are to be applied for the first time.

The interim consolidated financial statements and the interim Group management report for the first six months of fiscal year 2012/13 have not been reviewed by the auditors.

Standards to be applied for the first time

The amendments to IAS 1 "Presentation of Financial Statements" that were adopted into European law by the European Union in June 2012 and are applicable for fiscal years beginning on or after July 1, 2012 were applied in the current quarterly financial statements for the first six months of fiscal year 2012/13.

Adjustment pursuant to IAS 8

The German Financial Reporting Enforcement Panel carried out a random audit on the Aurubis consolidated financial statements and the Aurubis management report for fiscal year 2009/10 as part of the German enforcement procedure. The procedure ended with a notification from the Federal Financial Supervisory Authority (BaFin). This was reported on in detail in the Annual Report 2011/12. Corrections from this also affect individual positions in the consolidated balance sheet and in the consolidated income statement from the first half of fiscal year 2011/12. The quantitative effects of the corrections on the consolidated financial statements are as follows:

	3/31/2012		Correction pursuant to IAS 8	3/31/2012
	Before correction	Reclassifica tion	Revaluation	After correction
Assets
Property, plant and equipment	959,552	250,605	0	1,210,157
Inventories	2,314,021	(250,605)	253,289	2,316,705
Raw materials and supplies	1,049,704	0	1,626	1,051,330
Work in process	695,051	(250,605)	246,361	690,807
Finished goods, merchandise	563,072	0	5,302	568,374
Payments on account of inventories	6,194	0	0	6,194
Other non-current and current assets	1,484,743	0	0	1,484,743
Total assets	4,758,316	0	253,289	5,011,605
Equity and liabilities
Equity	1,938,540	0	176,159	2,114,699
Subscribed capital	115,089	0	0	115,089
Additional paid-in capital	342,782	0	0	342,782
Generated group earnings	1,492,165	0	176,116	1,668,281
Accumulated other comprehensive in come components	(14,949)	0	0	(14,949)
Equity attributable to shareholders of Au rubis AG	1,935,087	0	176,116	2,111,203
Non-controlling interests	3,453	0	43	3,496
Deferred tax liabilities	326,852	0	77,130	403,982
Other current and non-current liabilities	2,492,924	0	0	2,492,924
Total equity and liabilities	4,758,316	0	253,289	5,011,605

Correction of consolidated balance sheet pursuant to IAS 8 (IFRS) (in € thousand)

	10/1/2011	Correction pursuant to IAS 8	10/1/2011
	Before correction	Reclassifica tion	Revaluation	Before correc tion
Assets
Property, plant and equipment	970,502	250,605	0	1,221,107
Inventories	1,822,520	(250,605)	197,125	1,769,040
Raw materials and supplies	879,590	0	(4,752)	874,838
Work in process	607,378	(250,605)	202,120	558,893
Finished goods, merchandise	335,006	0	(243)	334,763
Payments on account of inventories	546	0	0	546
Other non-current and current assets	1,540,380	0	0	1,540,380
Total assets	4,333,402	0	197,125	4,530,527
Equity and liabilities
Equity	1,740,108	0	135,020	1,875,128
Subscribed capital	115,089	0	0	115,089
Additional paid-in capital	342,782	0	0	342,782
Generated group earnings	1,296,948	0	135,006	1,431,954
Accumulated other comprehensive income components	(18,857)	0	0	(18,857)
Equity attributable to shareholders of Aurubis AG	1,735,962	0	135,006	1,870,968
Non-controlling interests	4,146	0	14	4,160
Deferred tax liabilities	288,128	0	62,105	350,233
Other current and non-current liabilities	2,305,166	0	0	2,305,166
Total assets	4,333,402	0	197,125	4,530,527

Correction of consolidated income statement pursuant to IAS 8 (IFRS) (in € thousand)

	10/1/2011 – 3/31/2012	Correction pursuant to IAS 8	10/1/2011 – 3/31/2012
	Before correction		After correction
Changes in inventories of work in process and finished goods	304,369	49,786	354,155
Cost of materials	(6,388,862)	6,378	(6,382,484)
Gross profit	748,528	56,164	804,692
Operating result	365,565	56,164	421,729
Earnings before taxes	346,219	56,164	402,383
Income taxes	(98,742)	(15,025)	(113,767)
Consolidated net income	247,477	41,139	288,616
Consolidated net income attributable to Au rubis AG shareholders	246,711	41,108	287,819
Income attributable to non-controlling interests	766	30	796
Basic earnings per share (in €)	5.49	0.91	6.40
Diluted earnings per share (in €)	5.49	0.91	6.40

Dividend

A total of € 60,691,576.05 of Aurubis AG's unappropriated earnings of € 112,675,567.45 in fiscal year 2011/12 was used to pay a dividend of € 1.35. An amount of € 51,983,991.40 was carried forward.

Debt capital measure

In February 2013, Aurubis AG repaid € 103.5 million of the issued "Schuldscheindarlehen" (bonded loan) issued in February 2011. The remaining "Schuldscheindarlehen" at Aurubis AG as at March 31, 2013 therefore amounted to € 346.5 million.

7. Consolidated segment reporting (in € thousand)

	Pr im Co Se ary p p er g t me n		Re l ing / Pr iou cy c ec s Me ls Se ta t g me n		Co Pr du ts p p er o c Se t g me n		O t he r		To ta l		Re i l ia t ion / Co l i- co nc ns o da ion t		Gr to ta l ou p
	1s H Y t 2 0 1 2 / 1 3 t ing op er a	1s H Y t 2 0 1 1 / 1 2 t ing op er a	1s H Y t 2 0 1 2 / 1 3 t ing op er a	1s H Y t 2 0 1 1 / 1 2 t ing op er a	1s H Y t 2 0 1 2 / 1 3 t ing op er a	1s H Y t 2 0 1 1 / 1 2 t ing op er a	1s H Y t 2 0 1 2 / 1 3 t ing op er a	1s H Y t 2 0 1 1 / 1 2 t ing op er a	1s H Y t 2 0 1 2 / 1 3 t ing op er a	1s H Y t 2 0 1 1 / 1 2 t ing op er a	1s H Y t 2 0 1 2 / 1 3 I F R S	1s H Y t 2 0 1 1 / 1 2 I F R S	1s H Y t 2 0 1 2 / 1 3 I F R S	1s H Y t 2 0 1 1 / 1 2 I F R S
Re ve nu es
To l re ta ve nu es	4, 0 0 4, 8 0 3	4, 1 2 8, 3 9 5	2, 4 6 7, 1 1 6	2, 4 5 1, 9 9 3	4, 6 8 0, 8 2 4	4, 7 0 1, 3 7 7	1 0, 5 1 0	1 0, 0 3 7
in ter - t se g me n rev en ue s	3, 6 6 8, 6 9 2	3, 6 8 7, 2 9 4	7 6 3, 2 0 4	7 8 1, 6 5 8	2 0, 2 5 6	1 9, 8 2 2	3, 0 4 0	3, 8 4 6
Re ve nu es i t h t h ir d w ies t p ar	3 3 6, 1 1 1	4 4 1, 1 0 1	1, 7 0 3, 9 1 2	1, 6 7 0, 3 3 5	4, 6 6 0, 5 6 8	4, 6 8 1, 5 5 5	7, 4 7 0	6, 1 9 1	6, 7 0 8, 0 6 1	6, 7 9 9, 1 8	2 0	0	6, 7 0 8, 0 6 1	6, 7 9 9, 1 8 2
E B I T	1 0 8, 8 6 9	1 2 4, 9 7 0	3 8, 9 1 6	6 6, 2 0 0	1 2, 2 1 5	1 3 3 5, 5	( 7 6 3 )	( 1 4, 0 6 7 )	1 9, 2 3 7 5	1 9 2, 4 3	8 ( 9 0, 9 9 2 )	2 2 9, 2 9 1	6 8, 2 4 5	4 2 1, 7 2 9
E B T	1 0 2, 1 2 1	1 1 7, 4 0 6	3 2, 0 9 9	5 9, 8 7 8	4, 4 6 7	8, 0 9 5	2, 2 3 1	( 1 2, 7 9 2 )	1 4 0, 9 1 8	1 7 2, 5 8	7 ( 9 0, 9 9 2 )	2 2 9, 7 9 6	4 9, 9 2 6	4 0 2, 3 8 3
R O C E	3 6. 9	2 9. 3	3 1. 2	7 7. 9	2. 6	5. 9	-	-	-		- -	-	9. 3	2 1. 9

The division of the segments complies with the definition of business units in the Group. Certain prior-year figures have been adjusted.

V. RESPONSIBILITY STATEMENT

To the best of our knowledge, the consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the Group management report includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal opportunities and risks associated with the expected development of the Group in the remainder of the fiscal year.

Hamburg, May 14, 2013 Aurubis AG The Executive Board Peter Willbrandt Dr. Stefan Boel Erwin Faust Dr. Michael Landau Dr. Frank Schneider

Disclaimer:

Forward-looking statements

This information contains forward-looking statements based on current assumptions and forecasts. Various known and unknown risks, uncertainties and other factors could have the impact that the actual future results, financial situation or developments differ from the estimates given here. We assume no liability to update forward-looking statements.

VI. DATES AND CONTACTS

FINANCIAL CALENDAR

Interim Report on the First Nine Months 2012/13 August 13, 2013 Publication of Annual Report 2012/13 December 16, 2013 (expected date)

INVESTOR RELATIONS CONTACTS

Angela Seidler Head of Investor Relations Tel. +49 40 7883-3178 e-mail: Ha.seidler@aurubis.com

Dieter Birkholz Tel. +49 40 7883-3969 e-mail: Hd.birkholz@aurubis.com

Frank Dernesch Tel. +49 40 7883-2379 e-mail: Hf.dernesch@aurubis.com

GROUP COMMUNICATIONS CONTACTS

Michaela Hessling Head of Group Communications Tel. +49 40 7883-3053 e-mail: Hm.hessling@aurubis.com

Matthias Trott Tel. +49 40 7883-3037 e-mail: Hm.trott@aurubis.com^H