AMAG Group’s revenue climbs 16.4% to $1.4b as nine-month EBITDA jumps 59%

AMAG Group reported around a 59 per cent increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to EUR 181 million (USD 202 million) in the first nine months of 2026, compared with EUR 114 million (USD 127 million) in the same period last year.

Revenue rose 16.4 per cent to EUR 1.3 billion (USD 1.4 billion) from EUR 1.1 billion (USD 1.2 billion) in the first three quarters of 2025. Net income after taxes increased about 142 per cent to EUR 82 million (USD 91 million), up from EUR 34 million (USD 38 million).

The Austrian aluminium producer attributed its performance to strong operations at its Ranshofen site, higher shipment volumes in the Rolling Division, and attractive market conditions for its Canadian aluminium smelter interest, Alouette. Cost-efficiency measures at Ranshofen also continued to support profitability.

Total shipments increased 7 per cent year on year to 342,900 tonnes from 320,800 tonnes. The Rolling Division recorded higher shipments in the automotive, heat exchanger and aerospace sectors. The Casting Division maintained solid volumes of recycled cast alloys, while primary aluminium shipments in the Metal Division also increased.

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Victor Breguncci, MBA, Chief Executive Officer of AMAG, said, “We achieved the second-best quarterly result in the company’s history. The initiatives we have put in place to boost profitability in Ranshofen are proving effective and have enabled us to capitalise on opportunities that are coming from our key premium markets.”

The EBITDA margin rose to 13.7 per cent in the first nine months of 2026, up from 10 per cent a year earlier. The company cited higher aluminium prices, favourable conditions in the primary aluminium sector and the lasting benefits of cost-efficiency measures as key factors behind the earnings growth. A stronger euro against the US dollar, however, had a negative impact on revenue.

Third-quarter EBITDA reaches EUR 80 million

AMAG Group recorded revenue of EUR 473 million (USD 529 million) in the third quarter of 2026, up 35 per cent from EUR 351 million (USD 392 million) in the same quarter last year. Total shipments rose 21 per cent to 121,500 tonnes from 100,400 tonnes, partly reflecting around 9,000 tonnes of primary aluminium carried over from the second quarter.

EBITDA rose 139.5 per cent year on year to EUR 80 million (USD 89 million), the company's second-best quarterly result. Higher aluminium prices, increased premiums and stronger volumes at Ranshofen supported the result.

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Operating profit (EBIT) climbed 324 per cent to EUR 61 million (USD 68 million) from EUR 14.5 million (USD 16 million), while net income after taxes rose to EUR 41 million (USD 46 million) from EUR 10 million (USD 11 million).

Breguncci said, “The business performance to date and the current order book give us confidence that we will close the financial year 2026 with an EBITDA between EUR 200 and 220 million.” 

Cash flow and debt

Despite higher earnings, cash flow from operating activities was negative EUR 36 million (USD 40 million) in the first nine months of 2026, compared with positive EUR 135 million (USD 150 million) a year earlier. The company attributed this mainly to more capital being tied up as shipment volumes and aluminium prices increased.

Cash flow from investing activities recorded an outflow of EUR 31 million (USD 35 million), compared with EUR 41 million (USD 46 million) in the same period last year. Free cash flow showed an outflow of EUR 67 million (USD 75 million), compared with an inflow of EUR 94 million (USD 105 million) a year earlier.  

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Net financial debt increased to EUR 401 million (USD 448 million) as of September 30, 2026, from EUR 321 million (USD 359 million) at the end of 2025. However, the leverage ratio declined to 2.0 from 2.3, supported by stronger earnings over the preceding 12 months.

Cash and cash equivalents totalled EUR 193 million (USD 216 million) at the end of September, down from EUR 276.5 million (USD 309 million) at the end of 2025. AMAG said higher capital tied up and dividend distributions in April 2026 contributed to the change.

Equity increased to EUR 786 million (USD 879 million) from EUR 717 million (USD 802 million) at the end of 2025, while the equity ratio improved to 44 per cent from 43 per cent.