AMAG Austria Metall AG

AMAG reports increase in revenue and net income after taxes in 2014 - Seite 2

The earnings contribution from the Service Division was down from EUR 3.9 million in the previous year to EUR 1.9 million due to changes in provisions.

The AMAG Group achieved an operating profit (EBIT) of EUR 59.0 million in the 2014 financial year (2013: EUR 72.4 million).

Consolidated net income after taxes of EUR 59.2 million were ahead of the previous year's EUR 56.0 million, with the growth deriving primarily from positive effects in the area of deferred tax.

A major success was achieved in 2014 in optimising metal stocks, which were reduced by around 20% year-on-year, thereby freeing up a significant volume of capital.

Primarily as a result of this release of capital, the Management Board will propose an increase of the dividend from EUR 0.60 to EUR 1.20 per share to the Annual General Meeting to be held on April 16, 2015. This corresponds to a dividend yield of 4.8% in relation to the average share price in 2014.

At EUR 130.8 million, compared with EUR 129.9 million, 2014 represented a further year characterised by a high level of investments. Most of these investments were attributable to the "AMAG 2014" expansion project, as in the previous year. The qualification process with the customers for the new plant is running to schedule.

Mainly due to investments, total assets increased from EUR 933.5 million in the previous year to EUR 1,092.5 million. The equity ratio amounts to 57.1% (2013: 62.6%). Gearing remains at a solid level of 14.9% (2013: 8.6%).

Business trend outlook for 2015

The CRU market research institute forecasts that attractive rates of growth in primary aluminium and aluminium rolled products will continue in 2015. Total global consumption is set to increase by around 6% in both of these areas. As far as aluminium rolled products are concerned, faster growth is anticipated than in 2014 in AMAG's core European and North American markets. The transportation area is a key driver in this context, which is forecast to grow by around 14% in 2015, especially due to the wider usage of aluminium within the automotive industry.

Helmut Wieser, CEO of AMAG: "Lightweight construction utilising aluminium is a very efficient way to reduce the fuel consumption and CO2 emissions of cars and aircraft."

Increased macroeconomic uncertainties and high volatility on commodity and currency markets are making it difficult to issue a precise forecast for the 2015 financial year at present.

Considering current conditions, the Management Board takes an overall positive view of the 2015 financial year.

AMAG - Key figures in EUR millions , 2014 , 2013 , Change Shipments in tonnes , 375,900 , 351,700 , 6.9% of which external shipments in tonnes , 352,100 , 329,600 , 6.8% Revenue , 823.0 , 786.4 , 4.6% EBITDA , 114.7 , 122.8 , -6.6% EBIT , 59.0 , 72.4 , -18.6% Net income after taxes , 59.2 , 56.0 , 5.7% Cash flow from operating activities , 95.2 , 122.2 , -22.2% Cash flow from investing activities , -118.4 , -125.2 , 5.4% Employees1) , 1,638 , 1,564 , 4.7% in EUR millions , 31/12/2014 , 31/12/2013 , Change Equity , 623.9 , 584.4 , 6.8% Equity ratio , 57.1% , 62.6% ,



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emitter: AMAG Austria Metall AG address: Lamprechtshausenerstraße 61, 5282 Ranshofen country: Austria contact person: Dipl.Kfm. Felix Demmelhuber phone: [phone] e-mail: [e-mail] website: www.amag.at

ISIN(s): AT00000AMAG3 (share) stock exchanges: official trade in Vienna

[ source: http://www.pressetext.com/news/20150227006 ]