Amag Austria Metall AG, the biggest company is the Austrian Aluminium sector and is also listed at Vienna Stock Exchange, has again recorded better incoming orders in recent months.
On 22nd October’20, Gerald Mayer, CEO, AMAG said: “In particular, the last two months were okay again. Even in the crisis, the stronger strategic orientation towards aviation and automobiles is confirmed.”
“Only in the second quarter did the corona crisis halve the incoming orders, significantly worse than in the economic crisis a decade ago. But after the three bad months, it was better, especially in the last two months”
Mayer believes: “The automotive sector should recover quickly and there is already another increase in orders, in aviation, it will take longer.”
The CEO had already said in July: "The subdued market expectations, especially in the automotive and aerospace industries, do not change the medium and long-term positive global demand for aluminium."
Mayer added: “In the first half of the year, 13% of AMAG sales went to aviation and 11% to original equipment manufacturers. Foil pre-rolled strips for the packaging industry accounted for 20%. The packaging area is stable and good.”
AMAG chief sees the company well-positioned for the crisis, with the many high-quality special products in the large rolling area, which accounts for three-quarters of sales, with good liquidity and low debt. Ranshofen (Upper Austria) has the most modern aluminium rolling mill in Europe.
“AMAG is the leader with a scrap rate of 75% to 80%. In 2019, 365,000 tonnes of aluminium scrap were processed in Ranshofen. The group's sales volume fell in the first half of the year from 226,000 to 203,000 tonnes and sales from €555 to €464 million. During the crisis, AMAG reduced structural costs, not just through short-time work”, said Mayer.
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