Amag Austria Metall AG Reports Earnings Results for the Second Quarter and First Half Ended June 30, 2017; Provides Earnings Guidance for the Year 2017
August 02, 2017 at 02:18 am EDT
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AMAG Austria Metall AG reported earnings results for the second quarter and first half ended June 30, 2017. For the quarter, the company reported revenue of EUR 277.9 million compared to EUR 233.6 million a year ago. EBITDA was EUR 49.0 million compared to EUR 40.7 million a year ago. EBIT was EUR 30.4 million compared to EUR 23.8 million a year ago. Net income after taxes was EUR 21.0 million compared to EUR 18.2 million a year ago. Cash flow from operating activities was EUR 19.1 million compared to EUR 34.5 million a year ago.
For the first half, the company reported revenue of EUR 535.4 million compared to EUR 461.4 million a year ago. EBITDA was EUR 92.4 million compared to EUR 73.4 million a year ago. EBIT was EUR 55.1 million compared to EUR 39.3 million a year ago. Net income after taxes was EUR 37.6 million compared to EUR 25.9 million a year ago. Cash flow from operating activities was EUR 26.8 million compared to EUR 69.6 million a year ago.
For the year 2017, taking market conditions as of the end of June 2017 into account, the EBITDA of the AMAG Group is expected in a range between EUR 150 million and EUR 160 million. Demand for aluminium products will continue to report attractive growth in the 2017 financial year. Demand for primary aluminium and rolled products is set to increase by 4 to 5% year-on-year according to the latest estimates from market research institute.
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 Earnings Results for the Second Quarter and First Half Ended June 30, 2017; Provides Earnings Guidance for the Year 2017
AMAG AUSTRIA METALL AG 
