PRESSEPORTAL Presseportal Logo
All Stories
Subscribe to AMAG Austria Metall AG

03.05.2017 – 07:31

AMAG Austria Metall AG

EANS-News: AMAG Austria Metall AG on growth track in Q1 2017 (with photo)

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.

Financial Figures/Balance Sheet/Earnings Forecast/quarterly report

- Shipment volumes up 3 % to 107,100 tonnes
- Revenue rises 13 % to EUR 257.5 million
- EBITDA increases 27 % to EUR 41.4 million
- Net income after taxes doubles to EUR 15.1 million
- 2017 guidance: further operating profit growth
- "AMAG 2020" expansion project running on schedule and on budget

AMAG Austria Metall AG has made a successful start to 2017. AMAG Group shipments
were up by 3 % in the first quarter of 2017 to reach 107,100 tonnes. Shipment
volumes in the Rolling Division increased by 7 % to 54,500 tonnes due to the
scheduled ramp-up of plants as part of the expansion project in Ranshofen.

Helmut Wieser, CEO of AMAG: "AMAG is on a growth track - shipment volumes of
rolled products grew by 7 % in the first quarter of 2017, including deliveries
to the aircraft industry up 22 % and to the automotive industry up 7 %."

The market environment proved positive in the first quarter of 2017. The
aluminium price increased by 22 % on average compared with the average of the
first quarter of 2016.

Higher shipments and the higher aluminium price were reflected in significant
revenue and earnings growth accordingly.

AMAG Group revenue climbed by 13 % from EUR 227.8 million to EUR 257.5 million.

Earnings before interest, tax, depreciation and amortisation (EBITDA) were up by
27 %, from EUR 32.7 million to EUR 41.4 million.

The operating profit (EBIT) of the AMAG Group of EUR 22.7 million in the first
quarter of 2017 was almost 50 % above the previous year's level (Q1 2016:
EUR 15.5 million).

Net income after taxesof EUR 7.7 million in the first quarter of 2016 almost
doubled to EUR 15.1 million.
Investments and plant expansion
The "AMAG 2020" expansion project - entailing around EUR 300 million of
investments - is running on budget and on schedule. The cold rolling mill, the
new casting plant and the finishing equipment are to be commissioned during the
second quarter of 2017, as planned.

During the first three months of 2017, investments for the "AMAG 2020" project
amounted to a total of EUR 25.9 million, thereby accounting for most of the
investment activities. Total investments of the AMAG Group stood at
EUR 32.7 million in the first quarter of the year, compared with
EUR 43.8 million in the previous year's equivalent period.
2017 guidance:
Rising demand for aluminium products establishes a good base for the growth path
of AMAG Austria Metall AG. Demand for primary aluminium and aluminium rolled
products is set to increase by 4 to 5 % year-on-year according to the latest
estimates from the market research institute CRU.

The commissioning of the new cold rolling mill and further finishing equipment
creates the precondition for further volume growth in subsequent years.

Helmut Wieser, CEO of AMAG: "The plants for cold rolled and heat treated special
aluminium products are fully utilised. We will soon be able to offer our
customers not only additional volumes in this product area, but also a wider
range with larger dimensions."

For the 2017 financial year, the Management Board expects a further increase in
operating results. Taking current market conditions into account, EBITDA is
expected to be recorded in a range between EUR 150 million and EUR 160 million,
compared with EUR 143 million in the previous year.

AMAG - key figures
|Shipments in     |            107,100|            103,700|              3.3 %|
|of which external|                   |                   |                   |
|shipments in     |            100,100|             94,400|              6.0 %|


|Net income after |               15.1|                7.7|             95.6 %|
|Cash flow from   |                   |                   |                   |
|operating        |                7.6|               35.1|            -78.2 %|
|Cash flow from   |                   |                   |                   |
|investing        |              -44.6|              -43.7|             -2.1 %|



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

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

Press contact:
Leopold Pöcksteiner	
Head of Strategy, Communication, Marketing
AMAG Austria Metall AG				
Lamprechtshausenerstrasse 61
5282 Ranshofen, Austria			
Tel.: +43 (0) 7722-801-2205 			 

end of announcement                               euro adhoc 

Pictures with Announcement:

company:     AMAG Austria Metall AG
             Lamprechtshausenerstraße 61
             A-5282 Ranshofen
phone:       +43 7722 801 0
FAX:         +43 7722 809 498
sector:      Metal Goods & Engineering
ISIN:        AT00000AMAG3
indexes:     WBI, ATX Prime, VÖNIX, ATX BI, ATX GP
stockmarkets: official market: Wien 
language:   English

Original content of: AMAG Austria Metall AG, transmitted by news aktuell