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EQS-Information: AMAG Austria Metall AG / Tag(s): Half-year outcomes

AMAG Austria Metall AG: highest half-year end in firm historical past

07/28/2022 / 07:30
The issuer/writer is chargeable for the content material of the notification.

Ranshofen, July 28, 2022

AMAG Austria Metall AG: highest half-year end in firm historical past

  • AMAG achieves report gross sales and earnings in 1st semester 2022
  • A constructive market surroundings, constantly excessive productiveness and steady optimization of the product combine are decisive
  • Turnover elevated considerably by round 50% to 904.3 million euros
    (H1/2021: €595.1 million)
  • EBITDA elevated considerably by almost 70% to €156.5 million
    (H1/2021: €93.6 million)
  • After-tax revenue displays over 120% progress €78.4 million displays a really profitable first half (H1/2021: €35.0 million)
  • 2022 outlook: EBITDA between €220 million and €250 million, assuming steady power provide and stable market situations

After a really profitable begin to 2022, AMAG Austria Metall AG was capable of obtain an extra improve in gross sales and earnings within the second quarter of 2022. With an EBITDA of 156.5 million euros, the AMAG Group was capable of obtain the very best half-year end result to this point within the first six months of the yr underneath assessment.

Gerald Mayer, CEO of AMAG Austria Metall AG: Our AMAG crew managed to attain report outcomes with a excessive degree of competence and nice dedication. The primary half was characterised by uncertainties within the provide of supplies and power in addition to difficulties in worldwide logistics. Offered that the power provide can be secured within the second half of the yr, we anticipate an excellent monetary yr 2022, regardless of an preliminary important slowdown within the financial surroundings.

the earnings AMAG Group elevated considerably by 52.0% to EUR 904.3 million within the first half of 2022 (H1/2021: EUR 595.1 million), primarily because of the improve within the worth of aluminum and the profitable optimization of the product combine. the gross sales quantity reached 225,100 tonnes, roughly the extent of the earlier yr (H1/2021: 226,100 tonnes).

This Earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) was capable of improve by 67.3% to EUR 156.5 million within the present semester (H1/2021: EUR 93.6 million). The considerably increased aluminum worth in comparison with the half-year (+36.9% at 3,088 USD/t) and engaging alumina prices strengthened the evolution of earnings within the Steel division. On the Ranshofen web site, the excessive degree of productiveness and the profitable optimization of the product portfolio are mirrored within the growth of EBITDA. Excessive price inflation, particularly for power, uncooked supplies and logistics, was largely offset by worth changes.

Depreciation within the first half of 2022 was -43.7 million euros (H1/2021: -41.7 million euros). This Working end result (EBIT) elevated considerably by 117.4% in comparison with the earlier yr and, at 112.8 million euros, displays a really profitable half-year (H1/2021: 51.9 million euros).

This revenue after tax amounted to 78.4 million euros, or 124.2% greater than the half-year results of the earlier yr (H1/2021: 35.0 million euros).

Of the Money generated from operations benefited from a report half-year end result, but in addition displays an elevated want for financing from holding corporations. Specifically, the rise within the degree of costs and the structure of safety shares are on the origin of a better working capital. Within the first half of 2022, money circulate was -84.1 million euros (H1/2021: 50.2 million euros). Of the Money circulate from investing actions was -29.7 million euros within the first six months of the reference yr (H1/2021: -25.8 million euros). This ends in a Free motion of capital -€113.9 million, after €24.4 million the earlier yr.

the internet monetary debt was €506.8 million at June 30, 2022, after €346.1 million on the finish of 2021 Fairness of the AMAG group elevated to €686.7 million as of June 30, 2022 (December 31, 2021: €629.5 million). the fairness ratio was 36.0% on the finish of June 2022 (31 December 2021: 39.5%).

Outlook 2022:

The present market surroundings is clouded particularly by the Ukrainian battle and presents notably low visibility. Though the Product Analysis Unit (CRU) experiences continued progress in demand for aluminum merchandise, the forecast is extremely depending on future financial developments in Europe and globally. Specifically, excessive price inflation and the danger associated to power provide from Europe are clouding the worldwide financial outlook and likewise impacting AMAG’s enterprise growth. The continuation of the COVID-19 pandemic may additionally affect financial growth. Degraded provide chains and chronic labor shortages will stay difficult within the second half of 2022.

Intimately, the evolution of earnings in Canada relies upon above all on the continuation of the evolution of the costs of aluminum and the primary uncooked supplies. Foreign money fluctuations, notably between the USD and the CAD, may additionally have an effect on the outcomes of the Steel division.

Topic to steady power provide within the second half of 2022 and robust market situations, AMAG administration expects an annual EBITDA of between €220 million and €250 million for the group. AMAG.

AMAG key figures:

in tens of millions of euros Q2/2022 Q2/2021 modification S1/2022 S1/2021 modification
gross sales in tons 120,500 127,600 -5.6% 225 100 226 100 -0.4%
of which exterior gross sales in tonnes 113,600 121,900 -6.8% 211,600 214,500 -1.4%
earnings 505.4 343.9 +47.0% 904.3 595.1 +52.0%
EBITDA 88.5 63.3 +39.9% 156.5 93.6 +67.3%
EBIT 66.5 42.6 +56.1% 112.8 51.9 +117.4%
revenue after tax 45.9 29.8 +53.8% 78.4 35.0 +124.2%
Money generated from operations 46.1 46.5 -0.9% -84.1 50.2 -267.7%
Money circulate from investing actions -14.5 -9.9 -45.5% -29.7 -25.8 -15.2%
Worker1) 2.214 2.143 +3.3% 2.207 2.127 +3.7%

in tens of millions of euros 06/30/2022 31/12/2021 modification
Fairness 686.7 629.5 +9.1%
fairness ratio 36.0% 39.5%
Leverage (gear) 73.8% 55.0%

1) Common efficiency of the workforce (full-time equal) together with momentary staff, excluding apprentices. Consists of personnel from Alouette electrolysis (20%) and AMAG elements.

In regards to the AMAG Group

AMAG is one in every of Austria’s main suppliers of top quality solid and rolled aluminum merchandise, that are utilized in all kinds of industries equivalent to aerospace, automotive, sporting items, lighting, mechanical engineering, development and packaging industries. The Canadian foundry Alouette, during which AMAG has a 20% stake, produces high-quality main aluminum with an exemplary ecological stability. At AMAG elements, based mostly in Übersee am Chiemsee (Germany), ready-to-assemble steel components for the aerospace business are additionally manufactured.

contact investor press contact
Magazine. Christoph M. Gabriel, BSc Dipl.-Ing. Leopold Poecksteiner
Head of Investor Relations Company Communications Supervisor
AMAG Austria Metall AG AMAG Austria Metall AG
Lamprechtshausener Straße 61 Lamprechtshausener Straße 61
5282 Ranshofen, Austria 5282 Ranshofen, Austria
Tel: +43 (0) 7722-801-3821 Tel: +43 (0) 7722-801-2205
E mail: investorrelations@amag.at E mail: publicrelations@amag.at
Web site: www.amag-al4u.com

an opinion

The forecasts, plans and forward-looking assessments and statements contained on this publication have been made on the idea of all data accessible to AMAG as of July 15, 2022. If the assumptions on which the forecasts are based mostly don’t materialize, if the aims don’t are usually not achieved or if dangers come up, precise outcomes might differ from these presently anticipated. We undertake no obligation to replace these forward-looking statements in mild of recent data or future occasions.

This publication has been created with the best doable care and knowledge checked. Nevertheless, rounding, transmission or printing errors can’t be excluded. Specifically, AMAG and its representatives assume no legal responsibility for the completeness and accuracy of the data contained on this publication. This publication can be accessible in French, the German model being authoritative in case of doubt.

This publication doesn’t represent a advice or an invite to purchase or promote AMAG securities.

07/28/2022 Publication of a Company Information/Monetary Information, transmitted by EQS Group AG. www.eqs.com

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