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31 OCTOBER 2017 AL CIRCLE

AMAG Austria reports double-digit revenue and earnings growth

EDITED BY : BEETHIKA BISWAS 2MINS READ

The AMAG Group, a leading Austrian premium supplier of high-quality aluminium cast and flat rolled products for highly varied industries continued its successful trend in Q3 2017. The company achieved YoY growth in terms of shipments, revenue and earnings in the January to September 2017 period.

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The total shipments of AMAG were up 3 % YoY to 318,900 tonnes during the first three quarters of 2017. The organic growth programme at the Ranshofen site was the main driver of this volume expansion. In terms of aluminium rolled products, shipment volumes were up by 6 % compared with the same period of 2016 to reach a new record level of 162,500 tonnes.  

Helmut Wieser, CEO of AMAG: "We have again successfully translated our increasing specialisation and technological expertise into business success. We achieved a further shipments record with our expanded product portfolio and our new equipment."

The revenue of the AMAG Group rose by 15 % YoY to EUR 790.2 million, attributed to the increase in shipment volumes as well as the higher aluminium price. With an average of 1,933 USD/t, the aluminium price was up by 23 % compared with the same period of 2016.

The improved earning was attributed to volume increases, the higher aluminium price and also a better product mix.  EBITDA was up to EUR 129.0 million from EUR 109.7 million in the same period of 2016. This represents 18 % growth.

Despite higher depreciation and amortisation the operating earnings (EBIT) of the AMAG Group of EUR 72.0 million were considerably above the previous year's level of EUR 58.6 million. Net income after taxes was up 26 %, from EUR 38.5 million to EUR 48.6 million. AMAG reported total assets of EUR 1,377.5 million as of the end of September 2017.


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EDITED BY : BEETHIKA BISWAS 2MINS READ

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