AMAG Austria Metall AG

EANS-News: AMAG Austria Metall AG in H1 2016: Record shipments and significant earnings growth (with photo)

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quarterly report

- Successful continuation of growth course, significant increase in shipment
volumes to 206,300 tonnes
- Half-year earnings report significant improvement:
- EBITDA: +7 % to EUR 73.4 million
- Net income after tax: +21 % to EUR 25.9 million
- FY 2016 earnings forecast raised
- New multi-year contract signed with Airbus
- "AMAG 2020" expansion project running on schedule and on budget

AMAG successfully continued on its growth course in the first half of 2016,
reporting a shipment volume of 206,300 tonnes. This record figure reflects the
plant expansion and marked volume growth in the rolled products area.
While revenue of EUR 461.4 million was due to the aluminium price 2 % lower than
in the first half of the previous year, earnings before interest, tax,
depreciation and amortisation (EBITDA) were up by 7 %, from EUR 68.9 million to
EUR 73.4 million. Profitability - expressed in the EBITDA margin - improved from
14.6 % to 15.9 %.

The operating profit (EBIT) of the AMAG Group amounted to EUR 39.3 million in
the first half of the year, 14 % above the previous year's level of EUR 34.3
million. Net income after taxes improved by 21 %, from EUR 21.5 million to EUR
25.9 million.

The quarter-on-quarter comparison is particularly positive. EBITDA was up by 19
% in the second quarter 2016, from EUR 34.3 million to EUR 40.7 million. Net
income after taxes almost doubled to EUR 18.2 million (Q2 2015: EUR 9.4

Helmut Wieser, CEO of AMAG: "We are increasingly benefiting from our plant
expansion and from the significantly higher output of our new hot rolling mill,
which is enabling us to grow together with our international customers. We have
just signed the largest contract ever concluded between AMAG and Airbus. Our
combination of innovative products, high productivity and efficiency are
essential preconditions for our competitiveness, and with it the positive trend
in our profitability."

Most of plant expansion financed from company's own resources:
The higher operating results translated into higher cashflow from operating
activities. EBITDA grew by 162 % from EUR 26.6 million in the first half-year of
2015 to EUR 69.6 million, enabling most of the expenditure on the plant
expansion in Ranshofen to be financed from the company's own resources. The
cashflow from investing activities for the AMAG Group amounted to EUR -93.8
million in the first half of 2016 (H1 2015: EUR -28.2 million). 

Helmut Wieser, CEO of AMAG: "The expansion of the Ranshofen site continues to
progress rapidly. This expansion project, which will lift capacity for aluminium
rolled products to more than 300,000 tonnes, is running on budget and on
schedule. Commissioning will start in around a year's time. With these new
plants, we are creating the foundation to expand our business with renowned
customers, especially from the automotive, aerospace and packaging industries."
2016 outlook:
The market for primary aluminium and aluminium rolled products is reporting
further growth in 2016. Market research institute CRU forecasts growth rates of
around 4%.

Taking the positive earnings trend during the first six months into account,
planned maintenance works during the second half of the year, and current market
conditions, the EBITDA forecast for the 2016 financial year is raised to a range
between EUR 120 million and EUR 130 million. The EBITDA range published in the
Q1 2016 report was stated between EUR 110 million and EUR 125 million.
AMAG - key figures:
|EUR        |   Q2/2016|   Q2/2015|    Change|   H1/2016|   H1/2015|     Change|
|Shipments  |          |          |          |          |          |           |

|of which   |          |          |          |          |          |           |
|external   |          |          |          |          |          |           |
|shipments  |          |          |          |          |          |           |
|Net income |          |          |          |          |          |           |
|Cashflow   |          |          |          |          |          |           |
|from       |          |          |          |          |          |           |
|operating  |          |          |          |          |          |           |
|Cashflow   |          |          |          |          |          |           |
|from       |          |          |          |          |          |           |
|investing  |          |          |          |          |          |           |


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.
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 von: AMAG Austria Metall AG, übermittelt durch news aktuell

Weitere Meldungen: AMAG Austria Metall AG

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