AMAG Group Reports Earnings Results for the Third Quarter and Nine Months Ended September 2017; Revises Earnings Guidance for the Full Year 2017
October 31, 2017 at 05:38 am EDT
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AMAG Group reported earnings results for the third quarter and nine months ended September 2017. For the period, total volume of sales in the first three quarters increased by 3% to 318,900 tons. Sales revenues of the group increased by 15.0% to EUR 790.2 million, due to both higher volume and prices. Operating profit (EBIT) increased by 22.9% to EUR 72.0 million. After-tax profit grew by 26.1% to EUR 48.6 million. EBITDA increased by 17.6% to EUR 129 million.
In the third quarter Operating profit (EBIT) dropped by 12.5% to EUR 16.9 million.
The group has slightly raised its forecasts for 2017. An EBITDA of EUR 155 million – EUR 162 million is expected. Back in August the company expected EUR 150 million - 160 million.
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 
