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28 FEBRUARY 2018 AL CIRCLE

AMAG reports record shipments, revenue and operating result in 2017

EDITED BY : BEETHIKA BISWAS 2MINS READ

AMAG Austria Metall AG, a leading supplier of high-quality aluminium cast and flat rolled products for aerospace, automotive, sports, lighting, mechanical engineering, construction and packaging sector continued its growth track in FY2017. The company commissioned its new cold rolling mill and finishing plants and reported historically best operating results while laying the foundation for further organic growth. Total shipments increased 4 % to 421,700 tonnes in FY2017, driven by rising demand for aluminium products worldwide.

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Revenue rose 14% from EUR 906.2 million in 2016 to EUR 1,036.2 million, primarily driven by higher shipment volumes and rising aluminium price.   The same factors have also lifted the EBITDA 15 % to a record level of EUR 164.5 million and net income after taxes improved by 36 %, from EUR 46.3 million to EUR 63.2 million.

Helmut Wieser, CEO of AMAG said, "The good operating result of AMAG confirm the path we have adopted. We achieved new historic records in many areas in 2017 due to the strong demand from our customers, the positive market conditions and additional production capacities, and we exceeded the EUR 1 billion revenue level for the first time in the history of AMAG."

Cash flow from operating activities stood at EUR 101.8 million and AMAG continues to report a solid balance sheet and financing structure as of the end of 2017.

AMAG projected both primary aluminium and aluminium rolled product demand to increase by around 4%.

“We will benefit from a larger product portfolio, rising shipment volumes and productivity gains over the next years," Helmut Wieser, CEO of AMAG added.

The ramp-up of the new plants is planned over several years to expand productivity in Rolling Division and Casting Division. The company believes business trends in the Metal Division will depend primarily on the future development of the price of aluminium and its raw materials, as well as the currency situation.

Management expects a solid earnings performance in Casting Division for 2018 and the Rolling Division is expected to register further growth, driven chiefly by the new investments.  The related prerequisites include the successful continuation of the ramp-up of the new plants with quality output. Management is confident of continuing to benefit in 2018 from the growth course that has been adopted in the Rolling Division.

 


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EDITED BY : BEETHIKA BISWAS 2MINS READ

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