AMAG Austria Metall AG Reports Consolidated Earnings Results for the First Quarter Ended of March 31, 2016; Provides Earnings and Operating Guidance for the Full Year of 2016
May 02, 2016
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AMAG Austria Metall AG reported consolidated earnings results for the first quarter ended of March 31, 2016. For the quarter, the company reported revenue of EUR 227,790,000 compared to EUR 230,991,000 a year ago. Earnings before interest and taxes were EUR 15,512,000 compared to EUR 18,061,000 a year ago. Earnings before taxes were EUR 13,331,000 compared to EUR 17,069,000 a year ago. Net income after taxes were EUR 7,701,000 compared to EUR 12,618,000 a year ago. Earnings per share was EUR 0.22 compared to EUR 0.36 a year ago. Cash flow from operating activities was EUR 35,070,000 compared to EUR 13,492,000 a year ago. Payments for investments in property, plant and equipment and intangible assets were EUR 43,723,000 compared to EUR 17,372,000 a year ago. Operating cash flow per share was EUR 0.99 compared to EUR 0.38 a year ago. EBITDA was EUR 32.7 million compared to EUR 35.3 million a year ago. Operating result was EUR 15.5 million compared to EUR 18.1 million a year ago.
For the full year of 2016, the Management Board of the company expects EBITDA range between EUR 110 million and EUR 125 million. Global primary aluminum production is expected to amount to 58.2 million tonnes in 2016, representing 1.2% growth compared with 2015.
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 AMAGâs 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 Divisionâs portfolio includes facility management (building and area management).
AMAG Austria Metall AG Reports Consolidated Earnings Results for the First Quarter Ended of March 31, 2016; Provides Earnings and Operating Guidance for the Full Year of 2016