AMAG Austria Metall AG

EANS-News: AMAG Austria Metall AG
Double-digit revenue and EBITDA growth in 2015


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annual result/Financial Figures/Balance Sheet

AMAG: Double-digit revenue and EBITDA growth in 2015
 
* Continued high market growth in aluminium products
* Increase in revenue and EBITDA despite aluminium price decline:
  - Revenue up by 11 % to EUR 913.3 million
  - EBITDA of EUR 126.7 million rises by 10 % year-on-year
* Proposed dividend of EUR 1.20 per share remains unchanged year-on-year
* Successful continuation of the company's strategic development
 
Business trends at AMAG Austria Metall AG in 2015 were characterised by marked
improvements in revenue and operating earnings (EBITDA).

Helmut Wieser, AMAG CEO: "Both revenue and EBITDA grew at double-digit rates
year-on-year. We achieved a significant increase in earnings with our recycling
foundry alloys and rolled products that we manufacture at our Ranshofen site,
which more than offset the aluminium price driven earnings decline from our 20 %
interest in the Alouette smelter in Canada."

The revenue of the AMAG Group grew by 11.0 % from EUR 823.0 million in the
previous year to EUR 913.3 million. Earnings before interest, tax, depreciation
and amortisation (EBITDA) increased by 10.5 %, rising from EUR 114.7 million to
EUR 126.7 million.
 
The AMAG Group achieved an operating result (EBIT) of EUR 57.6 million in the
2015 financial year, compared with EUR 59.0 million in the previous year.

Consolidated net income after taxes of EUR 42.7 million was below the previous
year's EUR 59.2 million, which was affected by extraordinary items in the area
of deferred taxes and the financial result.

Dividend unchanged year-on-year
The improvement in operating earnings (EBITDA) is also reflected in higher cash
flow from operating activities, which was up by 15.5 % to EUR 109.9 million
(2014: EUR 95.2 million). Taking this positive trend into account, the
Management Board is proposing to the AGM to pay a year-on-year unchanged
dividend of EUR 1.20 per share. This corresponds to a dividend yield of 3.8 % in
relation to the volume-weighted average share price in 2015.

AMAG's solid balance sheet structure
The equity of AMAG increased from EUR 623.9 million at the end of 2014 to
EUR 643.4 million as of the balance sheet date at the end of 2015. The equity
ratio also improved from 57.4 % to 58.4 %.
Despite the past years' high level of investment, net financial debt of
EUR 113.8 million remains at a solid level (December 31, 2014:
EUR 93.0 million). Gearing amounted to 17.7 % as of the end of the year
(December 31, 2014: 14.9 %).

Plant expansion
The "AMAG 2014" expansion project was brought to a successful conclusion in
2015. Final acceptance certificates were issued to the main plant suppliers, and
the ramp-up is also running to schedule. A total of around 18,000 tonnes of
high-quality rolled products were already produced in the new plant in 2015.

Work on the "AMAG 2020" strategy project is also proceeding in line with
planning. Construction work on the approximately 55,000 m² plant will start in
spring of 2016. Commissioning will occur in 2017. The "AMAG 2020" strategy
project comprises a total volume of around EUR 300 million, and will boost the
Rolling Division's production capacity to more than 300,000 tonnes. A total of
around 250 further jobs will be created at the company's Austrian headquarters
in Ranshofen.

Helmut Wieser, AMAG's CEO: "With the installation of our new cold rolling mill
and the additional finishing plants, we are developing Ranshofen into one of the
world's most state-of-the-art and flexible locations for aluminium rolled
products. By expanding our broadly diversified product portfolio towards formats
of more than 2,000 mm width, we are becoming a full-range supplier of special
products in the areas of automotive, aerospace, sports articles, electronics and
packaging."


FY 2016 outlook

Growth in demand for aluminium products will continue in 2016, according to the
latest forecasts from the market research institute CRU. With regard to primary
aluminium, CRU sees global demand increasing by 5.0 %. Demand for aluminium
rolled products is expected to grow by 5.2 % in 2016. 

This high demand growth establishes a good foundation for a positive business
development in 2016. The future aluminium price trend has a significant
influence on the results of the AMAG Group. Consequently, in view of the high
aluminium price volatility, it is too early to provide an earnings forecast for
the 2016 financial year.

 
 
  

 
AMAG - Key figures
 
 _____________________________________________________________________________
|in_EUR_million___|_______________2015|_______________2014|_____________Change|
|Shipments in     |            381,300|            375,900|              1.4 %|
|tonnes___________|___________________|___________________|___________________|
|of which external|                   |                   |                   |
|shipments in     |            347,100|            352,100|             -1.4 %|

|tonnes___________|___________________|___________________|___________________|
|Revenue__________|______________913.3|______________823.0|_____________11.0_%|
|EBITDA___________|______________126.7|______________114.7|_____________10.5_%|
|EBIT_____________|_______________57.6|_______________59.0|_____________-2.3_%|

|Net income after |               42.7|               59.2|            -27.9 %|
|taxes____________|___________________|___________________|___________________|
|Cash flow from   |                   |                   |                   |
|operating        |              109.9|               95.2|             15.5 %|
|activities_______|___________________|___________________|___________________|
|Cash flow from   |                   |                   |                   |
|investing        |              -91.2|             -118.4|             23.0 %|

|activities_______|___________________|___________________|___________________|
|Employees1)______|______________1,704|______________1,638|______________4.0_%|

 
 
 ______________________________________________________________________________
|in_EUR_million|_______Dec._31,_2015|_______Dec._31,_2014|_______________Change|
|Equity________|_______________643.4|_______________623.9|________________3.1_%|
|Equity_ratio__|______________58.4_%|______________57.4_%|____________________-|

 

 
1) Average number of employees (full-time equivalents) including temporary help
workers and excluding apprentices. The figure includes a 20 % pro rata share of
the labour force at the Alouette smelter, in line with the equity holding.

Further inquiry note:
Felix Demmelhuber					
Head of Investor Relations		
AMAG Austria Metall AG				
Lamprechtshausenerstrasse 61
5282 Ranshofen, Austria 			
Tel.:   +43 (0) 7722-801-2203 			 
Email: investorrelations@amag.at

end of announcement                               euro adhoc 
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company:     AMAG Austria Metall AG
             Lamprechtshausenerstraße 61
             A-5282 Ranshofen
phone:       +43 7722 801 0
FAX:         +43 7722 809 498
mail:     investorrelations@amag.at
WWW:      www.amag.at
sector:      Metal Goods & Engineering
ISIN:        AT00000AMAG3
indexes:     WBI, ATX Prime, VÖNIX, ATX BI, ATX GP
stockmarkets: official market: Wien 
language:   English
 

 

 

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