AMAG Austria reports improved result in Q3 2016 on higher shipment volume in roll products

<p>AMAG Austria Metall AG has reported results for its third quarter 2016 and continued its positive earnings trend reporting significant YOY earnings growth in the first nine months of 2016.<br />&nbsp;<br /><strong>Highlights:</strong><br /><br />&bull; Shipment volumes up 7 % to 309,000 tonnes due to new hot rolling mill<br />&bull; Revenue down 2 % YOY to EUR 687.1 million due to low aluminium price<br />&bull; EBITDA up 7 % to EUR 109.7 million <br />&bull; Net income after tax deduction up 15 % to EUR 38.5 million<br />&bull; Company raises FY 2016 earnings forecast <br />&bull; "AMAG 2020" expansion project running on budget and on schedule<br /><br />AMAG shipped 309,000 tonnes during the first nine months of 2016, recording 7 % growth over the same period of 2015. The company shipped 153,900 tonnes of aluminium rolled products reporting a growth of record 15 %. Low revenue of AMAG during the first nine months of 2016 was offset by higher shipment volumes especially in the Rolling Division.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/AMAG%20Wieser.jpg" alt="News" width="517" height="226" /></p> <p><br /><br />Commenting on the results, Helmut Wieser, CEO of AMAG Austria Metall AG said, "The positive trend in shipment volumes and results during the first three quarters confirms our growth course. With the expansion of our capacities as well as the product portfolio, we are enhancing our competitiveness and expanding our role as an attractive growth and innovation partner for our customers."<br /><br />As a result of higher roll product shipment volumes and more favourable raw materials costs and cost optimisation at the Alouette smelter in Canada, EBITDA rose 7 % to EUR 109.7 million during the first three quarters of the year.<br /><br />{googleAdsense}<br /><br />The operating profit (EBIT) rose 17% YOY to EUR 58.6 million in the first nine months of 2016. Net income after taxes also recorded 15 % growth compared to the same period of 2015. <br />Improved results enhanced higher cash flow of EUR 101.5 million during the first nine months of the year. Most of the higher level of capital expenditure, driven by the "AMAG 2020" expansion project, was covered as a consequence.<br />&nbsp;<br />Taking into account the general growth predictions for primary aluminium and aluminium rolled products, Management Board of AMAG Austria Metall AG expects EBITDA of around EUR 135 million for the 2016 financial year upgrading from the H1 forecast of EUR 120 million to EUR 130 million.<br /><br /></p> <p><span style="border-radius: 2px; text-indent: 20px; width: auto; padding: 0px 4px 0px 0px; text-align: center; font: bold 11px/20px 'Helvetica Neue',Helvetica,sans-serif; color: #ffffff; background: #bd081c url('data:image/svg+xml;base64,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') no-repeat scroll 3px 50% / 14px 14px; 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