AMAG Austria Metall AG

Increase in operating profit (EBITDA) of 30 % in H1 2015

Business news for the stock market

Ranshofen (pta007/04.08.2015/07:30) - -Record shipments of 91,000 tonnes in Rolling Division as result of new hot rolling mill

-Revenue grows 15.9 % - from EUR 406.7 million to EUR 471.5 million

-EBITDA in H1 2015 up 30.1 % to EUR 70.6 million (H1 2014: EUR 54.3 million)

-First half of 2015 characterised by volatile commodity and currency markets

-FY 2015 outlook: EBITDA range between EUR 130 million and EUR 140 million remains realistic

-Plant expansion program AMAG 2020 with cold-rolling mill and upgrading equipment running to schedule

AMAG Austria Metall AG reported significant growth in its key operating earnings results during the first half of 2015 compared with the previous year's first six months.

Revenue grew by 15.9 % - from EUR 406.7 million to EUR 471.5 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) were up by 30.1 %, increasing to EUR 70.6 million (H1 2014: EUR 54.3 million).

All operating segments contributed to the rise in operating earnings compared with the first half of 2014. The Metal Division benefited particularly from the lower EUR/USD exchange rate, boosting EBITDA by 34.9 %, from EUR 18.2 million to EUR 24.5 million. EBITDA generated by the Casting Division amounted to EUR 5.3 million in the first half of 2015, 83.1 % ahead of the EUR 2.9 million generated in the previous year's comparable period. The Rolling Division reported EBITDA in the first half of 2015 up by 20.1 %, from EUR 31.4 million to EUR 37.7 million. Along with positive effects from a slight shift in the product mix, earnings growth also reflected an increase in shipments as a result of the commissioning of new hot rolling mill.

The AMAG Group achieved an operating result (EBIT) of EUR 36.0 million in the 2015 financial year, representing 28.2 % rise compared with the first half of 2014 (EUR 28.1 million). Consolidated net income after tax amounted to EUR 22.7 million in the first half of 2015, after the previous year's EUR 26.7 million.

Balance sheet structure remains solid The equity of the AMAG Group stood at EUR 615.5 million as of June 30, 2015, thereby at the level at the end of 2014 (EUR 623.9 million). The equity ratio of 57.4 % remains at a solid level (December 31, 2014: 57.1%).

Due to the dividend payout in April 2015, net debt increased to EUR 134.1 million, compared with EUR 93.0 million as of December 31, 2014. Gearing amounted to 21.8 % as of the end of June (December 31, 2014: 14.9 %).