AMAG Austria Metall AG Announces Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Full Year 2017
May 03, 2017 at 02:31 am EDT
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AMAG Austria Metall AG announced earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenue of EUR 257.5 million against EUR 227.8 million a year ago. EBITDA was EUR 41.4 million against EUR 32.7 million a year ago. EBIT was EUR 22.7 million against EUR 15.5 million a year ago. Net income after taxes was EUR 15.1 million against EUR 7.7 million a year ago. Cash flow from operating activities was EUR 7.6 million against EUR 35.1 million a year ago.
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 Austria Metall AG is an Austria-based holding group company. It manages its business through four operating divisions Metal, Casting, Rolling and Service. The Metal Division includes the 20 % interest held in the Alouette smelter, and is responsible within the AMAG Group for the production of primary aluminium, the control of metal flows, the hedging of AMAG's operating companies against aluminium price risk and the marketing of primary aluminium. Casting Division recycles aluminium scrap in order to produce high-quality casthouse alloys. Its product portfolio covers aluminium materials tailored to customer requirements in the form of ingots, sows and liquid aluminium. Rolling Division is responsible for the production and sale of rolled products (sheets, coils and plates), as well as precision and rolled plates. The rolling mill specialises in premium products for selected markets. Service Division's portfolio includes facility management (building and area management).