AMAG Austria Metall AG announced earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company's revenue was EUR 225.7 million compared with EUR 232.9 million a year ago. EBITDA was EUR 36.3 million compared with EUR 33.2 million a year ago. EBIT was EUR 19.4 million compared with EUR 15.9 million a year ago. Net income after taxes was EUR 12.7 million compared with EUR 12.0 million a year ago. Cash flow from operating activities was EUR 31.9 million compared with EUR 51.0 million a year ago.

For the nine months, the company's revenue was EUR 687.1 million compared with EUR 704.5 million a year ago. Effects from the lower aluminum price were almost offset by higher shipment volumes especially in the Rolling Division. EBITDA was EUR 109.7 million compared with EUR 102.1 million a year ago. Especially higher shipment volumes in the Rolling Division and more favorable raw materials costs and cost optimization at the Alouette smelter in Canada contributed to this result. EBIT was EUR 58.6 million compared with EUR 50.3 million a year ago. Net income after taxes was EUR 38.5 million compared with EUR 33.5 million a year ago. Cash flow from operating activities was EUR 101.5 million compared with EUR 77.6 million a year ago.

The company expects EBITDA of around EUR 135 million for the 2016 financial year, thereby again upgrading its earnings forecast of EBITDA in the range of EUR 120 million to EUR 130 million.