AMG Critical Materials N.V.

Condensed Interim Consolidated Income Statemen

For the quarter ended March 31

In thousands of US dollars

2024

2023

Unaudited

Unaudited

Continuing operations

Revenue

358,159

450,590

Cost of sales

(310,837)

(310,748)

Gross profit

47,322

139,842

Selling, general and administrative expenses

(44,739)

(40,360)

Other income

95

541

Net other operating income

95

541

Operating profit

2,678

100,023

Finance income

4,755

5,476

Finance cost

(19,303)

(12,093)

Net finance cost

(14,548)

(6,617)

Share of loss of associates and joint ventures

(677)

(1,032)

(Loss) profit before income tax

(12,547)

92,374

Income tax expense

(2,748)

(35,927)

(Loss) profit for the period

(15,295)

56,447

(Loss) profit attributable to:

Shareholders of the Company

(16,260)

56,221

Non-controlling interests

965

226

(Loss) profit for the period

(15,295)

56,447

Basic (loss) earnings per share

Basic (loss) earnings per share

(0.50)

1.76

Diluted (loss) earnings per share

(0.50)

1.72

AMG Critical Materials N.V.

Condensed Interim Consolidated Statement of Financial Position

In thousands of US dollars

March 31, 2024

December 31,

Unaudited

2023

Assets

Property, plant, and equipment

926,720

921,178

Goodwill and other intangible assets

52,710

40,313

Derivative financial instruments

24,999

22,847

Equity-accounted investees

17,588

18,266

Other investments

38,518

38,160

Deferred tax assets

28,220

26,882

Restricted cash

377

387

Other assets

12,499

12,060

Total non-current assets

1,101,631

1,080,093

Inventories

265,784

260,945

Derivative financial instruments

1,294

3,397

Trade and other receivables

168,235

164,027

Other assets

93,420

100,128

Current tax assets

6,765

7,845

Restricted cash

1,052

1,064

Cash and cash equivalents

285,271

345,308

Total current assets

821,821

882,714

Total assets

1,923,452

1,962,807

AMG Critical Materials N.V.

Condensed Interim Consolidated Statement of Financial Position (continued)

In thousands of US dollars

Equity

March 31, 2024

December 31,

Unaudited

2023

Issued capital

853

853

Share premium

553,714

553,715

Treasury shares

(9,558)

(10,593)

Other reserves

(53,305)

(52,269)

Retained earnings

53,427

70,077

Equity attributable to shareholders of the Company

545,131

561,783

Non-controlling interests

44,212

44,220

Total equity

589,343

606,003

Liabilities

Loans and borrowings

655,418

656,265

Lease liabilities

44,733

46,629

Employee benefits

130,513

133,333

Provisions

17,769

17,951

Deferred revenue

14,012

17,836

Other liabilities

4,658

4,784

Derivative financial instruments

42

27

Deferred tax liabilities

7,231

6,664

Total non-current liabilities

874,376

883,489

Loans and borrowings

5,168

5,566

Lease liabilities

5,438

5,725

Short-term bank debt

7,507

7,678

Deferred revenue

15,820

14,083

Other liabilities

80,344

77,052

Trade and other payables

248,024

259,339

Derivative financial instruments

2,545

2,828

Advance payments from customers

62,940

60,561

Current tax liability

17,600

24,279

Provisions

14,347

16,204

Total current liabilities

459,733

473,315

Total liabilities

1,334,109

1,356,804

Total equity and liabilities

1,923,452

1,962,807

AMG Critical Materials N.V.

Condensed Interim Consolidated Statement of Cash Flows

For the quarter ended March 31

In thousands of US dollars

2024

2023

Unaudited

Unaudited

Cash (used in) from operating activities

(Loss) profit for the period

(15,295)

56,447

Adjustments to reconcile net profit to net cash flows:

Non-cash:

Income tax expense

2,748

35,927

Depreciation and amortization

13,715

12,967

Asset impairment reversal

-

(767)

Net finance cost

14,548

6,617

Share of loss of associates and joint ventures

677

1,032

Loss on sale or disposal of property, plant, and equipment

33

9

Equity-settledshare-based payment transactions

1,453

1,469

Movement in provisions, pensions, and government grants

805

2,755

Working capital and deferred revenue adjustments

(15,373)

4,905

Cash generated from operating activities

3,311

121,361

Finance costs paid, net

(9,942)

(7,012)

Income tax paid

(8,287)

(20,954)

Net cash (used in) from operating activities

(14,918)

93,395

Cash used in investing activities

Proceeds from sale of property, plant, and equipment

13

-

Acquisition of property, plant and equipment and intangibles

(33,652)

(44,718)

Investments in associates and joint ventures

-

(17,500)

Use of restricted cash

22

4,009

Interest received on restricted cash

-

19

Capitalized borrowing cost paid

(3,681)

(5,739)

Other

(7)

3

Net cash used in investing activities

(37,305)

(63,926)

AMG Critical Materials N.V.

Condensed Interim Consolidated Statement of Cash Flows (continued)

For the quarter ended March 31

In thousands of US dollars

2024

2023

Unaudited

Unaudited

Cash used in financing activities

Proceeds from issuance of debt

-

423

Repayment of loans and borrowings

(127)

(10,750)

Net repurchase of common shares

(688)

(6,672)

Payment of lease liabilities

(1,579)

(1,316)

Net cash used in financing activities

(2,394)

(18,315)

Net (decrease) increase in cash and cash equivalents

(54,617)

11,154

Cash and cash equivalents at January 1

345,308

346,043

Effect of exchange rate fluctuations on cash held

(5,420)

2,328

Cash and cash equivalents at March 31

285,271

359,525

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AMG Critical Materials NV published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2024 16:04:08 UTC.