EQS-News: AMAG Austria Metall AG / Key word(s): Quarter Results
AMAG Austria Metall AG: Good earnings in the first quarter of 2025
06.05.2025 / 07:20 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Ranshofen, 6 May 2025
AMAG Austria Metall AG: Good earnings in the first quarter of 2025
• Q1/2025 benefited from volume increases in the Rolling Division as
well as higher aluminium prices and premiums in the Metal Division
• Revenues growth of around +20% to EUR 401.4 million due to price and
volume factors (Q1/2024: EUR 335.8 million)
• EBITDA increased by around +9% to EUR 46.1 million (Q1/2024:
EUR 42.4 million)
• Net income after taxes of EUR 16.2 million, up around +22% on the
previous year (Q1/2024: EUR 13.3 million)
• Cash flow from operating activities up by over +40% to
EUR 51.1 million (Q1/2024: EUR 35.6 million)
• Outlook 2025: Q1 still insignificantly affected by US tariffs (25% in
force since 12 March 2025). Increasing negative effects will become
apparent from Q2/2025.
From today's perspective, full-year EBITDA of EUR 110 million to
EUR 140 million can be achieved
AMAG Austria Metall AG recorded increases in both revenue and earnings in
the first quarter of 2025. In addition to an almost +10% increase in
shipments in the Rolling Division, a higher aluminium price and higher
premiums in the Metal Division had a positive effect. As expected, the
difficult environment in the European automotive industry made itself felt
in the Casting Division.
AMAG Group's revenues grew by almost +20% to EUR 401.4 million (Q1/2024:
EUR 335.8 million) as a result of higher shipment volumes and a higher
aluminium price. Total shipments in Q1/2025 grew by around +6% to
110,800 tonnes (Q1/2024: 104,200 tonnes).
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
increased by around +9% to EUR 46.1 million after EUR 42.4 million in the
first quarter of the previous year.
The Metal Division generated EBITDA of EUR 20.6 million in the first
quarter of 2025 (Q1/2024: EUR 17.2 million) and benefited from continued
stable production at the Alouette smelter in Canada. A higher aluminium
price more than offset the negative effects of the increase in the price
of alumina in the fourth quarter of 2024. The division also benefited in
Q1/2025 from the significant increase in US Midwest premiums before the US
import tariffs came into force on 12 March 2025.
The difficult market environment in the European automotive industry was
reflected in the Casting Division's earnings performance. As a result of
the lower price level coupled with higher energy costs, EBITDA totalled
EUR 0.9 million in the first quarter of 2025 after EUR 2.2 million in the
same quarter of the previous year.
In the first quarter of 2025, the Rolling Division achieved increases in
sales of industrial applications and packaging products. This successfully
cushioned the decrease in volumes in the aerospace and heat exchanger
sectors as well as in other transport (lorries). EBITDA amounted to
EUR 24.4 million after EUR 22.5 million in the first quarter of 2024.
However, the global US import duties of 25% on aluminium products are
having an increasing impact on order intake and are leading to shifts in
the product mix and increased price pressure.
After taking into account depreciation and amortisation of
EUR 22.3 million (Q1/2024: EUR 22.2 million), AMAG Group's earnings before
interest and taxes (EBIT) increased by 18% to EUR 23.8 million (Q1/2024:
EUR 20.2 million).
Net income after taxes totalled EUR 16.2 million in the first quarter of
2025, up around +22% on the previous year (EUR 13.3 million).
Cash flow from operating activities benefited in particular from the high
operating profit and grew by 44% to EUR 51.1 million (Q1/2024:
EUR 35.6 million). Changes in working capital largely cancelled each other
out as at 31 March 2025. Taking into account the cash flow from investing
activities in the amount of EUR -16.8 million (Q1/2024:
EUR -26.0 million), a free cash flow of EUR 34.4 million (Q1/2024:
EUR 9.6 million) was generated.
Net financial debt as at 31 March 2025 improved to EUR 356.1 million
(31 December 2024: EUR 382.3 million). There was also an increase in cash
and cash equivalents to EUR 306.2 million as at 31 March 2025 (31 December
2024: EUR 278.8 million).
Outlook 2025:
Global GDP growth forecasts have been revised sharply downwards compared
to the estimates at the start of the year. The global economy is
anticipated to grow by +2.8% (previously: +3.3%), with growth in the USA
now only at +1.8% (previously: +2.7%) and in the Eurozone at a meagre
+0.8% (previously: +1.0%). Stagnation is now expected for the German
economy (previously: +0.3%). (1)(1)
Dr. Helmut Kaufmann, Chief Executive Officer of AMAG: "The current
economic environment is characterised by increased uncertainties as a
result of the diverse and fluctuating trade policy measures. These
considerable volatilities require the ability to adapt rapidly – a quality
that characterises us as AMAG. We will act in our usual flexible and
customer-orientated manner. Nevertheless, it can be assumed that the
upheavals in the global economy will also affect AMAG's business
development.”
In the Metal Division, the further course of business – assuming that
production remains stable – will be significantly affected by price trends
for aluminium, premiums and raw materials. In recent years, primary
aluminium has been sold on the North American market due to tariff
advantages for Canada. The global US import tariffs on aluminium products,
which have been in force since 12 March 2025, are expected to lead to the
elimination of these tariff advantages in the remainder of the year.
In the Casting Division, the tense market environment in the European
automotive industry is leading to price declines. It can currently be
assumed that the US tariffs may have an indirect impact on shipments of
recycled cast alloys to European automotive customers.
From today's perspective, market-related shifts in the product mix are
enabling solid capacity utilisation in the Rolling Division, but are also
impacting earnings. Around 30,000 tonnes of rolled products, which
corresponds to around 15% of total shipments, are directly affected by the
US tariffs. The indirect impact on AMAG's shipments to European customers
is difficult to forecast at present.
The volatile framework conditions, particularly with regard to trade
policy measures, make the earnings forecast for the remainder of 2025
significantly more difficult. From today's perspective, full-year EBITDA
of EUR 110 million to EUR 140 million can be achieved. This assessment is
based, among other things, on the fundamental assumption that current
tariff conditions, in particular the global US import tariffs on aluminium
products, will remain unchanged.
AMAG key figures:
Q1/2025 Q1/2024 Change in %
Shipments in tonnes 110,800 104,200 6.3
of which external shipments in tonnes 101,000 95,500 5.8
Revenues in EUR million 401.4 335.8 19.5
EBITDA in EUR million 46.1 42.4 8.8
EBIT in EUR million 23.8 20.2 18.0
Net income after taxes in EUR million 16.2 13.3 21.8
Cash flow from operating activities 51.1 35.6 43.8
in EUR million
Cash flow from investing activities in EUR -16.8 -26.0 35.4
million
Employees in FTE^1) 2,232 2,232 0.0
31.03.2025 31.12.2024 Change in %
Equity in EUR million 759.9 740.9 2.6
Equity ratio in % 41.7 42.3
Gearing in % 46.9 51.6
(1) Average number of employees (full time equivalent) including contract
workers, excluding apprentices and since July 2024 also excluding holiday
interns. Includes the personnel from the Alouette smelter (20%) and AMAG
components.)
About the AMAG Group
AMAG is a leading Austrian premium supplier of high-quality aluminium cast
and rolled products, which are used in a wide range of industries such as
the aircraft, automotive, sporting goods, lighting, mechanical
engineering, construction and packaging industries. The Canadian Alouette
smelter, in which AMAG holds a 20% stake, produces high-quality primary
aluminium with an exemplary environmental footprint. AMAG components,
based in Übersee am Chiemsee (Germany), also manufactures ready-to-install
metal parts for the aerospace industry.
Investor contact Press contact
Mag. Christoph M. Gabriel, BSc MMag. Alexandra Hanischläger, MBA
Head of Investor Relations Head of Communication and Marketing
AMAG Austria Metall AG AMAG Austria Metall AG
Lamprechtshausener Straße 61 Lamprechtshausener Straße 61
5282 Ranshofen, Austria 5282 Ranshofen, Austria
Phone: +43 (0) 7722-801-3821 Phone: +43 (0) 7722-801-2673
Email: investorrelations@amag.at Email: publicrelations@amag.at
Website: www.amag-al4u.com
NOTE
The forecasts, plans and forward-looking assessments and statements
contained in this publication were made on the basis of all information
available to AMAG up to 25 April 2025. The economic and trade policy
environment has changed several times in recent weeks. Internal
calculations/earnings analyses are based on various assumptions. These
include, among other things, the continued validity of the global US
import tariffs on aluminium products. If the assumptions on which the
forecasts are based do not materialise, targets are not achieved or risks
occur, actual earnings may differ from those currently anticipated. We
assume no obligation to revise such forecasts in light of new information
or future events.
This publication has been prepared and the data checked with the greatest
possible care. However, rounding, transmission or printing errors cannot
be ruled out. In general, rounding may result in discrepancies in the
values, totals and percentages shown. In particular, AMAG and its
representatives accept no liability for the completeness and accuracy of
the information contained in this publication. This publication is also
available in German; in cases of doubt, the German-language version shall
prevail.
This publication does not constitute a recommendation or invitation to buy
or sell securities of AMAG.
(2)^(1) See International Monetary Fund, World Economic Outlook, April
2025
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06.05.2025 CET/CEST This Corporate News was distributed by EQS Group.
www.eqs.com
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Language: English
Company: AMAG Austria Metall AG
Lamprechtshausener Straße 61
5282 Ranshofen
Austria
Phone: +43 7722 801 0
Fax: +43 7722 809 498
E-mail: investorrelations@amag.at
Internet: www.amag-al4u.com
ISIN: AT00000AMAG3
WKN: A1JFYU
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Munich, Stuttgart; Vienna Stock Exchange (Official Market)
EQS News ID: 2130170
End of News EQS News Service
2130170 06.05.2025 CET/CEST
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