AMAG Austria Metall AG

AMAG increases operating profit (EBITDA) by 45% in Q1 2015

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Ranshofen (pta006/05.05.2015/07:30) - - Improved market environment compared with Q1 2014

- Revenue increase of 14% from EUR 202.7 million to EUR 231.0 million.

- EBITDA in Q1 2015 up 45% to EUR 35.3 million (Q1 2014: EUR 24.4 million)

- Start-up of new hot rolling mill continues successfully; commissioning of new rolling slab casthouse

- Outlook for fiscal year 2015: expected EBITDA range between EUR 130 million and EUR 140 million, compared with EUR 114.7 million in 2014

AMAG Austria Metall AG has made a good start to the 2015 financial year both in relation to its current site expansion in Ranshofen, and in operational terms.

AMAG grew its key earnings indicators in a double-digit percentage range compared with the first quarter 2014, supported by an improved market environment, especially in connection with the higher aluminium price level and positive currency effects.

Q1 2015 in figures AMAG Group revenue grew by 14.0 % to EUR 231.0 million, compared with EUR 202.7 million in the previous year's quarter.

Earnings before interest, tax, depreciation and amortisation (EBITDA) was up by 44.6 %, growing from EUR 24.4 million to EUR 35.3 million. All divisions contributed higher earnings to this successful growth. In the Metal Division, EBITDA of EUR 14.7 million was 67.1 % above the previous year's EUR 8.8 million. The Casting Division registered EBITDA growth from EUR 1.3 million to EUR 1.9 million. In the Rolling Division, EBITDA was up by 30.7 % to EUR 17.3 million (Q1 2014: EUR 13.3 million).

In the first quarter 2015, the AMAG Group generated EUR 18.1 million of earnings before interest and tax (EBIT), reflecting 58.1 % growth compared with the first quarter 2014 (EUR 11.4 million). Consolidated net income of EUR 12.6 million was also significantly ahead of the previous year's level (2014: EUR 10.4 million).

Solid balance sheet structure The equity of the AMAG Group amounted to EUR 640.2 million as of March 31, 2015, thereby 2.6 % above the level at the end of 2014 (EUR 623.9 million). The AMAG Group also continues to report a solid equity ratio of 55.3 % (December 31, 2014: 57.1 %).

Net debt stood at EUR 92.1 million as of March 31, 2015, compared with EUR 93.0 million at the end of December 2014. Gearing fell from 14.9 % at the end of 2014 to 14.4 %.

Plant expansion During the first quarter of 2015, the new rolling slab casthouse to produce input materials for the rolling mill was commissioned successfully, and the start-up of the new hot rolling mill and plate production continued. Preparations for the next expansion step ("AMAG 2020" project) were also started.