AMAG Austria Metall : Q1-Q3/2023 Presentation

Presentation Q3 2023

October 25, 2023

T E A M A M A G

T E A M F U T U R E

DISCLAIMER	2

Note

• The forecasts, budgets and forward-looking assessments and statements contained in this presentation were compiled on the basis of all information available to AMAG as of October 18, 2023. In the event that the assumptions underlying these forecasts prove to be incorrect, targets be missed, or risks materialise, actual results may diverge from those currently anticipated. We are not obligated to revise these forecasts in the light of new information or future events.
• This presentation was prepared and the data contained in it verified with the greatest possible care. Nevertheless, misprints and rounding and transmission errors cannot be ruled out entirely. In particular, AMAG and its representatives do not assume any responsibility for the completeness and correctness of information included in this presentation. This presentation is also available in German. In cases of doubt, the German-language version takes precedence.
• This presentation does not comprise either a recommendation or a solicitation to either purchase or sell securities of AMAG.

Presentation Q3 2023

AMAG Austria Metall AG

HIGHLIGHTS OF THE FIRST THREE QUARTERS 2023 3

SIGNIFICANT GROWTH IN OPERATING CASH FLOW

• Product and sector diversity as well as the interest held in the smelter in Canada secure solid earnings trend within a challenging environment
• Continued positive trend in demand from the aircraft sector; stable development in the automotive industry; sports and architectural products as well as industrial applications still at a low level
• Revenue of EUR 1,142.8 million significantly exceeds EUR 1 billion level (Q1-Q3/2022: EUR 1,353.9 million)
• EBITDA at EUR 166.0 million due to overall good performance in the operating divisions (Q1-Q3/2022:EUR 217.4 million)
• Net income after taxes at a solid level of EUR 69.7 million (Q1-Q3/2022:EUR 106.7 million)
• Significant growth in cash flow from operating activities to EUR 157.0 million (Q1-Q3/2022:EUR 40.5 million)
• Outlook for FY 2023: EBITDA range between EUR 175 million and EUR 195 million

Presentation Q3 2023

AMAG Austria Metall AG

FOUR AWARDS IN ONE WEEK …	4
… CONFIRM SUCCESSFUL PATH IN A WIDE RANGE OF AREAS

Effective Sustainability Communication Award

Austrian SDG Award	Green Business Data	Austria's Leading
Award	Companies Award

• Awarded for outstanding sustainability reporting for the third time in a row

› First place confirms	› AMAG wins award for
ambition to implement the	holistic approach
Global Sustainability Goals	combining digitalisation
(SDG*)	and sustainability

• Award for outstanding business performance in recent financial years

*Sustainable Development Goals (SDG) of the United Nations

Presentation Q3 2023

AMAG Austria Metall AG

Q1-Q3/2023 BUSINESS PERFORMANCE

Presentation Q3 2023

AMAG Austria Metall AG

MARKET AND SENTIMENT SITUATION	6

CONTINUED WEAK PMI* BUT GOOD DEMAND IN TRANSPORT SECTOR

Region/Country						2022										2023
Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep
World	53	54	53	52	52	52	51	50	50	49	49	49	49	50	50	50	50	49	49	49	49
Euro Zone	59	58	57	56	55	52	50	50	48	46	47	48	49	49	47	46	45	43	43	44	43
Austria	62	58	59	58	57	51	52	49	49	47	47	47	48	47	45	42	40	39	39	41	40
Germany	60	58	57	55	55	52	49	49	48	45	46	47	47	46	45	45	43	41	39	39	40
France	56	57	55	56	55	51	50	51	48	47	48	49	51	47	47	46	46	46	45	46	44
Italy	58	58	56	55	52	51	49	48	48	47	48	49	50	52	51	47	46	44	45	45	47
Spain	56	57	54	53	54	53	49	50	49	45	46	46	48	51	51	49	48	48	48	47	48
UK	57	58	55	56	55	53	52	47	48	46	47	45	47	49	48	48	47	47	45	43	44
USA	56	57	59	59	57	53	52	52	52	50	48	46	47	47	49	50	48	46	49	48	50
Canada	56	57	59	56	57	55	53	49	50	49	50	49	51	52	49	50	49	49	50	48	48
China	49	50	48	46	48	52	50	50	48	49	49	49	49	52	50	50	51	51	49	51	51
Japan	55	53	54	54	53	53	52	52	51	51	49	49	49	48	49	50	51	50	50	50	49

• Purchasing managers' index for manufacturing sector remains at very low level
• For AMAG, the PMI* is primarily a sentiment barometer for new order intake for industrial applications (mainly construction, mechanical engineering, architecture). Sports industry also influenced by special economic situation in previous years (bullwhip effect)
• Continued positive demand from the transport industry (rising aircraft build rates and stable demand for automotive products)

*Purchasing Managers' Index for the manufacturing sector. Source: Bloomberg

Presentation Q3 2023

AMAG Austria Metall AG

ALUMINIUM PRICE TREND	7
LARGELY STABLE BELOW THE PREVIOUS YEAR'S LEVEL

Aluminium price trend in USD/t		Ø Aluminium price (3-month LME) in USD/t

	3,500	-158 USD/t	-530 USD/t
	(-6.7 %)	(-18.7 %)
High at 3,968 USD/t	3,000			2,836
March 7, 2022
	2,500	2,358	2,200	2,306
Currently at 2,186 USD/t	2,000
October 18, 2023	1,500
	1,000
	500
	0
Source: London Metal Exchange (LME)				Presentation Q3 2023

AMAG Austria Metall AG

ALUMINA PRICE TREND	8
OVERALL HIGHER PRICE LEVEL AS % OF ALUMINIUM PRICE

Alumina price trend in USD/t		Ø Alumina price in USD/t and as % of LME

	500	-3 USD/t	-29 USD/t
	LME %: +0.9 ppt	LME %: +1.8 ppt
High at 506 USD/t
March 21, 2022	400			376
		339	336	347
Currently at 338 USD/t	300
October 18, 2023
	200	14.4%	15.3%	15.1%
			13.3%
	100
	0
Source: Bloomberg				Presentation Q3 2023

AMAG Austria Metall AG

AMAG GROUP SHIPMENTS	9

SHIPMENTS OF ROLLED PRODUCTS DOWN DUE TO MARKET CONDITIONS

Shipment volumes (external) in tonnes

Q1-Q3/2022

Q1-Q3/2023

319,200

-4.9 %

303,700

0

100,000

200,000

300,000

Change in shipment volumes compared to Q1-Q3/2022 in tonnes

Metal: +100  Continued stable production levels at Canadian smelter ensure constantly high shipment volume

Casting: +/-0 Stable new order intake from the automotive industry served with unchanged high productivity level

Rolling: -15,600 Positive trend in the aircraft industry and stable shipments in the automotive sector lessen market-related reductions in industrial applications, sports and architecture

Presentation Q3 2023

AMAG Austria Metall AG

ROLLING DIVISION: SHIPMENTS BY INDUSTRY	10

FLEXIBILITY IN THE PRODUCT PORTFOLIO HAS A STABILISING EFFECT

Packaging
Sports/architecture/
electronics/others	-4 kto
Specialty products
6%
for numerous industries
	+2 kto
	13%

Heat exchangers

Industrial applications

Sheets and plates for many different industries

+1 kto	Automotive (OEM)
20%

+2 kto

21%

Aircraft

+4 kto

14%

-19 kto	-1 kto
3%
24%
Other transport

In each case, the change in volume is shown compared with the previous year (Q1-Q3/2022) in thousands of tonnes, as well as the percentage share of total shipments in Q1-Q3/2023 in the Rolling Division.

Presentation Q3 2023

AMAG Austria Metall AG