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    Advanced Metallurgical Group (Seite 29)

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      Avatar
      schrieb am 19.12.08 10:19:43
      Beitrag Nr. 34 ()
      19.12.2008 08:52
      BRIEF-Norsk Hydro, AMG in JV to produce silica, magnesium

      AMSTERDAM, Dec 19 (Reuters) - Dutch-listed AMG Advanced Metallurgical Group NV (News) says:

      * Norsk Hydro (News/Aktienkurs) and AMG enter into agreement to develop new silica and magnesium technology

      * AMG and Hydro have formed SilMag DA ('SilMag'), a 50/50 joint venture, to further develop technology for the low cost production of magnesium and silica

      ((Amsterdam Newsroom; amsterdam.newsroom@reuters.com; +31 20 504 5000))
      Avatar
      schrieb am 04.12.08 15:11:04
      Beitrag Nr. 33 ()
      Hallo,
      ich habe folgende Nachricht gefunden und weiß nicht so recht, wie ich die interpretieren soll. Auf der HP der Deutschen Börse finde ich auch keine vernünftigen Antworten. Hat von euch jemand den Durchblick, was das bedeutet?

      28.11.2008 13:15
      DIVERSE: AENDERUNG/CHANGE OF TRADING MODEL
      FOLGENDE INSTRUMENTE WERDEN MIT WIRKUNG ZUM 01.12.2008 VON EINEM
      DESIGNATED SPONSOR BETREUT. AUS DIESEM GRUND WIRD DIE HANDELSFORM VON
      ONE AUCTION NACH CONTINOUS TRADING GEAENDERT:

      KUERZEL INSTRUMENTNAME ISIN INSTRUMENTENGRUPPE DESIGNAATED SPONSOR
      .
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      ADG ADVANCED METALLURGICAL NL0000888691 (Nachrichten) LUX0 AINAM
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      SAEMTLICHE AUFTRAEGE IN DEM O.G. INSTRUMENT WERDEN AUFGRUND DER AENDERUNG
      DER HANDELSFORM HEUTE NACH DEM POSTTRADING GELOESCHT.

      Grüßle
      balubine
      Avatar
      schrieb am 14.11.08 09:09:36
      Beitrag Nr. 32 ()
      11/12/2008
      AMG Reports Strong Third Quarter in Face of Challenging Economic Conditions

      AMG Reports Strong Third Quarter in Face of Challenging Economic Conditions

      Key Highlights

      * Revenue increased 49% in the third quarter 2008 compared to the third quarter 2007; year to date increase 40%
      * EBITDA increased 121% in the third quarter 2008 when compared to the third quarter 2007; year to date increase 99%
      * EPS on a fully diluted basis increased to $0.75 compared to the third quarter 2007 to ($0.94), EPS, excluding non-recurring charges, increased to $1.19
      * Advanced Materials' third quarter revenue and EBITDA improved by 17% and 120% compared to the third quarter of 2007
      * Engineering Systems' third quarter revenue and EBITDA improved by 70% and 54% compared to the third quarter of 2007
      * Timminco's third quarter revenue increased by 56% to $66.6 million and EBITDA increased to $7.4 million in the third quarter of 2007
      * Graphit Kropfmühl contributed $36.4 million to revenue and $4.1 million to EBITDA during Q3 2008
      * Strong balance sheet; cash on hand of $154.2 million, net debt of $79.6 million with no significant debt maturities until 2012; $114.8 million year to date free cash flow [1]

      [1] Free cash flow is defined as EBITDA less change in working capital and maintenance capital expenditures


      Amsterdam, 12 November 2008 --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") reported third quarter 2008 revenue increased to $437.6 million in the quarter ended 30 September 2008, from $292.9 million in the third quarter 2007, a 49% increase.

      Net income attributable to shareholders for the third quarter 2008 was $20.8 million, or $0.75 per fully diluted share. Excluding the non-recurring asset impairment expenses at AMG's 50.4% owned subsidiary, Timminco, and non-recurring acquisition purchase accounting at Graphit Kropfmühl, net income attributable to shareholders for the third quarter 2008 was $32.8 million, or $1.19 per fully diluted share. Adjusted net income was $9.4 million or $0.35 per fully diluted share for the third quarter 2007. EBITDA rose 121% to $71.1 million in the third quarter 2008 compared with $32.1 million in the third quarter 2007.

      Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, commented: "I am pleased to report our best quarter to date. Both the Advanced Materials and Engineering Systems divisions increased revenue and earnings driven by the solar, energy and superalloy end markets. AMG's majority owned subsidiary, Timminco Limited, continued to increase production of the solar grade silicon ramp up during the third quarter, shipping 300 metric tonnes, a 36% improvement over the second quarter 2008. Through AMG's diversified business model, conservative balance sheet and significant cash position, AMG is well positioned to endure the economic fallout from the global credit crisis. Demand and pricing for some of our major products are clearly being impacted by the growing uncertainties in the global economy. We are responding to these uncertainties by adjusting production levels on some of our products and increasing our cost containment measures. AMG is focused on protecting free cash flow in 2009."


      Key Figures

      In 000's US Dollar








      Q3'08

      Q3'07 [1]

      Change







      Revenue

      $437,561

      $292,897

      49%
      Gross profit

      94,601

      49,585

      91%
      Gross margin

      21.6%

      16.9%









      Operating income

      47,665

      23,902

      99%
      Operating margin

      10.9%

      8.2%









      Net Income attributable to shareholders

      20,769

      (25,630)










      EPS- Fully diluted

      0.75

      (0.94)


      Adjusted EPS-Fully diluted [2]

      1.19

      0.35









      EBIT [2]

      52,805

      27,818

      90%
      EBITDA [2] [3]

      71,118

      32,119

      121%
      EBITDA margin

      16.3%

      11.0%



      Notes:
      [1] Q3 2007 Revenue has been restated due to an adjustment at Timminco
      [2] In 2008, adjusted for non-recurring, restructuring and impairment charges at Timminco and non-recurring purchase accounting at GK. In Q3 2007 adjusted for debt extinguishment
      [3] EBITDA is defined as earnings before interest, tax, depreciation and amortization and excludes nonrecurring items



      Operational Review

      Advanced Materials Division



      Q3'08

      Q3'07

      Change
      Revenue

      $199,396

      $170,981

      17%
      Gross profit
      Operating income

      42,702
      22,621

      23,426
      6,701

      82%
      238%
      EBITDA

      25,427

      11,560

      120%
      Capital expenditures

      7,643

      5,684

      34%

      The Advanced Materials division's third quarter 2008 financial results were driven by continued strong pricing and solid volumes in ferrovanadium and certain other key products. Revenue increased by $28.4 million or 17% to $199.4 million. Gross profit improved by $19.3 million or 82% to $42.7 million. As a percentage of sales, SG&A expenses decreased despite additional corporate infrastructure. EBITDA increased by $13.9 million, a 120% improvement over the third quarter 2007 to $25.4 million.

      Gross margins expanded from 14% in the third quarter of 2007 to 21% in third quarter of 2008. The division's secure raw material supply, particularly in ferrovanadium, enabled it to increase gross margins at a faster pace than revenue. The increase in revenue and margins was primarily driven by ferrovanadium, with reference prices increasing by 68% and volumes by 6% over third quarter 2007. Coating materials for thin film solar applications, vanadium chemicals and antimony products also delivered strong margins in the period. Ferronickel-molybdenum and chromium metal suffered significant declines in volumes during the quarter as weakness in the stainless and specialty steel markets impacted demand.

      Operating income for the third quarter 2008 improved 238% to $22.6 million, up from $6.7 million for the comparable period in 2007. This was primarily due to the increase in gross profit offset by a marginal increase in selling, general and administrative expenses that was attributable to a build-up in corporate infrastructure.

      Capital expenditures were $7.6 million for the quarter, 34% higher than the comparable period in 2007, as previously announced capacity expansion initiatives in ferrovanadium, tantalum and hydropower continued during the quarter.


      Engineering Systems Division



      Q3'08

      Q3'07

      Change
      Revenue

      $135,155

      $79,350

      70%
      Gross profit
      Operating income

      44,326
      30,836

      24,207
      19,781

      83%
      56%
      EBITDA
      Capital expenditures

      34,241
      4,392

      22,202
      1,775

      54%
      147%


      The Engineering Systems division continued its dynamic growth during the third quarter 2008. Order backlog of $393 (€279) million as of 30 September 2008 increased 56% compared to order backlog of $252 million as of 31 December 2007. The backlog consists primarily of solar silicon DSS furnaces and melting and remelting systems for the materials industry. Adjusting for the decrease in the value of the Euro, in which most contracts are denominated, vis-a-vis the U.S. Dollar, the backlog at 30 September is consistent as compared to 30 June 2008 backlog of €282 million.

      Third quarter 2008 revenue and EBITDA increased $55.8 million, or 70%, and $12.0 million, or 54%, respectively, over the same period in 2007.

      Sales of solar silicon melting and crystallization furnaces for the photovoltaic industry increased 147% in the third quarter 2008 compared to the same period a year ago. Significant capacity expansion in the Berlin production facility was essential to meet the growing global demand for solar silicon DSS furnaces. As of the end of the third quarter 2008, 6 furnaces per week were produced, compared to one furnace per week at the end of the fourth quarter 2007.

      Revenue from remelting systems primarily for the aerospace, materials, and specialty steel industries remained on a similar steady growth trajectory as during the second quarter. Geographically, sales to the Asia Pacific region and Europe accounted for a majority of total revenues. Almost all product lines achieved strong margins on increased volumes.

      The EBITDA margin decreased to 25% during the third quarter 2008 compared to 28% for the same period in 2007. Excluding a onetime gain in the third quarter of 2007, EBITDA margin increased from 22% in the third quarter 2007 to 25% in the third quarter 2008. The one-time $5 million gain recorded during the third quarter 2007 related to the grants earned in connection with the acquisition of the Berlin production facility. The EBITDA margin increased due to economies of scale resulting from additional sales of DSS vacuum furnace systems. The division continues to proactively address the market changes and is adjusting production capacity to reflect those changes.

      In the quarter ended 30 September 2008, capital expenditures increased to $4.4 million from $1.8 million for the third quarter of 2007. This increase was a result of the expansion of the Berlin facility.


      Timminco



      Q3'08

      Q3'07

      Change
      Revenue

      $66,579

      $42,566

      56%
      Gross profit
      Operating income (loss)

      11,796
      2,055

      1,952
      (2,580)

      504%
      N/A
      EBITDA

      7,393

      (1,643)

      N/A
      Capital expenditures

      24,997

      7,446

      236%


      Timminco's revenue for the third quarter 2008 was $66.6 million compared with $42.6 million in the third quarter 2007, an increase of 56%. The increase is primarily attributable to the record sales of Timminco's solar grade silicon and silicon metal products. Gross profit also achieved record levels within the silicon product line due to the increased volume of solar grade silicon and higher average selling prices for silicon metal.

      Silicon gross profit for the third quarter 2008 was $8.6 million or 17% of sales compared to a gross profit of $0.2 million in the third quarter of 2007. Timminco sold 300 metric tons of solar grade silicon during the third quarter 2008 at an average price of $53kg. The main contributor to the increase in margin was the 36% increase in solar grade silicon volumes and a decrease of the unit production costs of solar grade silicon to $30. Magnesium gross profit for the third quarter 2008 was $3.2 million or 18.7% of sales compared to $1.8 million or 11% of sales in the third quarter of 2007.

      Timminco had operating income in the quarter of $2.1 million compared to ($2.6) million loss in the third quarter 2007, due to higher gross profit which was partially offset by increased selling, general and administrative expenses. Higher professional fees and travel related to various strategic initiatives resulted in an increase in SG&A.

      During the quarter ended 30 September 2008, Timminco continued the expansion of its solar grade silicon production capacity. This expansion is expected to bring the installed annual solar grade silicon production capacity to 14,400 metric tons, although the ramp up of this capacity will continue for six to twelve months after installation. Capital expenditures increased to $25.0 million for the quarter from $7.4 million in the same period 2007, as the previously announced solar grade silicon capacity expansion continued during the quarter. Sources of funding for this expansion include cash flow from operations, the Company's existing credit facilities, customer deposits and cash on hand. Customer deposits totalled $30.1 million in the third quarter of 2008. Continued growth in solar silicon revenues and gross margin improvement are expected for the balance of 2008.

      Graphit Kropfmühl


      Q3'08
      Revenue

      $36,431
      Gross profit*
      Operating income*

      (4,223)
      (7,847)
      EBITDA

      4,057
      Capital expenditures

      1,727

      * Gross profit and operating income include purchase accounting adjustments in the amount of $10.2 million and $11.0 million, respectively.

      Graphit Kropfmühl ("GK") generated $36.4 million in revenue and $4.2 million in gross losses during the quarter ended 30 September 2008. The gross loss was caused by the $10.2 million in purchase accounting related to the acquisition of GK by AMG. Excluding these charges, GK generated $3.2 million in operating income. The EBITDA for the quarter was $4.1 million or 11% of revenue, reflecting the higher average selling prices for silicon metal sales than in the second quarter 2008. GK spent $1.7 million in capital expenditures during the quarter, primarily to begin a project that will expand the production capacity of the silicon metal operations from 30,000 tonnes to 31,000 tonnes.


      Financial Review


      Liquidity


      Q3'08

      Q4'07

      Change
      Total debt

      $233,797

      $140,782

      (66)%
      Cash & short-term investments

      154,162

      187,891

      (18)%
      Net debt (cash)

      79,635

      (47,109)

      (269)%

      AMG had a net debt position of $79.6 million as of 30 September 2008. The increase in the Company's net debt is primarily a result of the acquisition of Graphit Kropfmühl, which used $62.9 million of cash and included the assumption of $27.3 million of debt. In addition, Timminco's year-to-date $48.3 million investment in a solar grade silicon expansion and an increased investment in working capital across all segments of the business also impacted liquidity. AMG's term debt and revolving credit facility do not mature until August 2012.


      Cash Flow


      Nine months ended


      30 September 2008

      30 September 2007





      Cash flows from operations

      $76,038

      $65,840
      Capital expenditures

      (95,262)

      (33,079)
      Acquisitions, net of cash

      (66,484)

      (49,321)
      Cash flows from other investing

      2,991

      4,927
      Cash flows used in investing activities

      (158,755)

      (77,473)
      Cash flows generated from (used in) financing activities

      73,124

      186,419
      Effect of exchange rates on cash held

      (8,803)

      14,789
      Net (decrease) increase in cash and cash equivalents

      (18,396)

      189,575


      Cash flows from operations were $76.0 million in the year-to-date period ended 30 September 2008 as compared to $65.8 million for the comparable period in 2007. Year to date 2008 cash flows from operations were up slightly year over year, as a result of an $88.3 million increase in EBITDA which was offset by an $88.4 million increase in working capital, as compared to the same period in 2007. The working capital increase is the result of higher raw material prices and inventory volumes for the Advanced Materials division's products, increased work in process inventory of solar silicon DSS furnaces in the Engineering Systems division and a build-up of silicon metal inventory at Timminco to support the ramp-up of solar silicon production.

      Cash used in investing activities was $158.8 million for the nine months ended 30 September 2008. This increase of $81.3 million over the comparable period in 2007 is primarily related to two items; $48.3 million in costs related to the expansion of the solar silicon production facility at Timminco and $62.9 million for the purchase of approximately 79.5% of Graphit Kropfmühl.

      Cash from financing activities was $73.1 million, a decrease of $113.3 million from the same period in 2007. This decrease was primarily the result of two factors, $287.1 million generated from the AMG initial public offering in 2007, offset by the net repayment of $183.6 million debt as compared to the 2008 borrowings on the credit facility for the acquisition of approximately 79.5% of Graphit Kropfmühl and borrowings to fund the working capital increases in Advanced Materials and Timminco.


      Outlook

      Despite the challenging economic conditions, AMG remains positive on long term growth prospects for the core markets of solar, fuel economy, nuclear and recycling that it serves. In the near term, however, AMG is taking cost containment steps, delaying non-essential capital projects and focusing on reducing working capital to maximize profitability and free cash flow through the current economic downturn and uncertain global markets. The impact of the current volatile economic situation makes visibility for 2009 difficult at this point; however AMG expects to substantially exceed its full year 2008 EBITDA target of 65% growth over 2007.
      Avatar
      schrieb am 08.10.08 23:51:45
      Beitrag Nr. 31 ()
      Amsterdam, 9 October 2008 --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") announces that its Engineering Systems Division has acquired the remaining 50% of its nuclear joint venture, Furnaces Nuclear Applications Grenoble S.A. ("FN") for approximately EUR 3 million. FN was formerly a joint venture with a privately held French company. AMG will now consolidate these operations under the Engineering Systems Division.

      Furnaces Nuclear Applications Grenoble S.A. designs and produces sintering systems for a number of nuclear applications. As previously announced, FN was recently awarded a contract with Shaw Areva MOX Services LLC for the detailed engineering of two sintering furnaces for the Shaw Areva MOX Fuel Fabrication Facility at the Savannah River Site, in Aiken, South Carolina, USA. These vacuum-type sintering systems will be used in the production of mixed oxide (MOX) uranium and plutonium nuclear fuel for light water reactors.

      In addition to its sintering systems for nuclear fuels and the contract with Shaw Areva MOX Services LLC, Furnaces Nuclear Applications Grenoble S.A. has the world's leading vacuum furnace engineering team specializing in nuclear technologies. AMG intends to use FN as a platform for its further expansion into the growing nuclear energy field.
      Avatar
      schrieb am 11.09.08 15:34:08
      Beitrag Nr. 30 ()
      aufgestockt zu 29,00

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      Beitrag Nr. 29 ()
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      schrieb am 14.08.08 13:05:26
      Beitrag Nr. 28 ()
      08/12/2008
      AMG earnings more than double in the second quarter
      Key Highlights

      * Revenue increased 48% in the second quarter 2008 compared to the second quarter 2007 (YTD Increase 35%)
      * EBITDA increased 97% in the second quarter 2008 when compared to the second quarter 2007 (YTD Increase 87%)
      * EPS on a fully diluted basis increased 114% compared to the second quarter 2007 to $0.92, EPS, excluding non-recurring charges, increased 170% compared to the second quarter 2007 to $1.16
      * Advanced Materials and Engineering Systems experienced robust revenue and EBITDA growth during second quarter 2008, driven primarily by improved pricing in metals and alloys and continuing demand for solar silicon DSS furnaces
      * Timminco's second quarter revenue and EBITDA improved by 63% and over 600% compared to the second quarter of 2007
      * Timminco shipments of solar grade silicon more than doubled to 221 MT in the second quarter
      * Graphit Kropfmühl contributed $24.6 million to revenue and $3.0 million to EBITDA since the completion of its acquisition on 22 April 2008


      Amsterdam, 12 August 2008 --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") today announced its second quarter 2008 results. The Company's revenue increased to $413.0 million in the quarter ended 30 June 2008 from $279.0 million in the second quarter 2007, a 48% increase.

      Net income attributable to shareholders for the second quarter 2008 was $25.3 million, or $0.92 per fully diluted share. Excluding AMG's 50.5% portion of the non- recurring restructuring expenses at Timminco, net income attributable to shareholders for the second quarter 2008 was $31.9 million, or $1.16 per fully diluted share. This represents an increase of 170% compared to net income of $11.8 million or $0.43 per fully diluted share for the second quarter 2007. EBITDA rose 97% to $63.4 million in the second quarter 2008 compared with $32.1 million in the second quarter 2007.

      Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, commented: "I am pleased to report record earnings for the second quarter and the first half of 2008. We had strong performances in both our Advanced Materials and Engineering Systems businesses. Both divisions increased revenue and earnings due to growth in the solar, steel and superalloy end markets. AMG's majority owned subsidiary, Timminco Limited, improved the quality and more than doubled the shipments of solar grade silicon during the second quarter as compared to the first quarter 2008, despite typical challenges associated with a ramp up of a new facility."


      Key Figures

      In 000's US Dollar








      Q2'08

      Q2'07 (1)

      Change







      Revenue

      $413,005

      $279,008

      48%
      Gross profit

      92,002

      53,078

      73%
      Gross margin

      22.3%

      19.0%









      Operating income

      40,879

      25,133

      63%
      Operating margin

      9.9%

      9.0%









      Net Income attributable to shareholders


      25,273


      11,758


      115%







      EPS- Fully diluted

      0.92

      0.43

      114%
      Adjusted EPS-Fully diluted (2)

      1.16

      0.43

      170%







      EBITDA (3)

      63,392

      32,142

      97%
      EBITDA margin

      15.3%

      11.5%


      Notes:
      (1) Q2 2007 Revenue has been restated due to an adjustment at Timminco
      (2) Adjusted for non-recurring, restructuring charges at Timminco
      (3) EBITDA is defined as earnings before interest, tax, depreciation and amortization and excludes nonrecurring items


      Operational Review

      Advanced Materials Division



      Q2'08

      Q2'07

      Change
      Revenue

      $226,452

      $173,416

      31%
      Gross profit
      Operating income

      46,860
      26,858

      30,444
      13,403

      54%
      100%
      EBITDA

      30,528

      16,755

      82%
      Capital expenditures

      6,005

      3,579

      68%


      The Advanced Materials division's second quarter 2008 financial results were driven by continued strong pricing and solid volumes in ferrovanadium, chromium and certain other key products. Revenue increased by $53.0 million or 30.6% to $226.5 million. Gross profit improved by $16.4 million or 53.9% to $46.9 million. SG&A expenses increased marginally because of additional corporate infrastructure. EBITDA increased by $13.8 million, an 82% improvement over the second quarter 2007 to $30.5 million.

      Gross margins expanded from 17.6% in the second quarter of 2007 to 20.7% in second quarter of 2008. The division's secure raw material supply enabled it to increase gross margins at a faster pace than revenue. The most notable price increases over second quarter 2007 were in ferrovanadium and chromium metal, with ferrovanadium prices increasing by 88% and chromium metal prices increasing by 42%. Coating materials for thin film solar applications, vanadium chemicals and antimony products also delivered strong margins in the period. One area of pricing weakness was in ferronickel-molybdenum as London Metal Exchange nickel prices fell approximately 47% from the same period in the prior year.

      Operating income for the second quarter 2008 improved 100% to $26.9 million, up from $13.4 million for the comparable period in 2007. This was primarily due to the increase in gross profit offset by a marginal increase in selling, general and administrative expenses that was attributable to a build-up in corporate infrastructure.

      Capital expenditures were $6.0 million for the quarter, 67.6% higher than the comparable period in 2007, as previously announced capacity expansion initiatives in ferrovanadium, tantalum and hydropower continue to be on schedule. The division has recently approved a $2 million capacity expansion for the production of coating materials for thin film solar applications.

      Engineering Systems Division



      Q2'08

      Q2'07

      Change
      Revenue

      $99,219

      $67,128

      48%
      Gross profit
      Operating income

      30,465
      20,006

      20,997
      14,003

      45%
      43%
      EBITDA
      Capital expenditures

      23,392
      6,687

      14,469
      3,126

      62%
      114%


      The Engineering Systems division continued its dynamic growth during the second quarter 2008. Order backlog of $444 million as of 30 June 2008 increased 76% compared to order backlog of $252 million as of 31 December 2007. The backlog primarily consists of solar silicon DSS furnaces and melting and remelting systems for the aerospace industry. The increase in the backlog is driven by a strong demand for solar silicon DSS furnaces.

      Second quarter 2008 revenue and EBITDA increased $32.1 million, or 48%, and $8.9 million, or 62%, respectively, over the same period in 2007.

      Sales in solar silicon melting and crystallization furnaces for the photovoltaic industry increased 75 % in the second quarter 2008 compared to the same period a year ago. In addition to the sales of single crucible furnaces to 18 solar customers worldwide, the division entered into a $90 million contract with a long-term customer, the largest order ever received in the Engineering Systems division's history.

      Significant capacity expansion in the Berlin production facility was essential to meet the growing global demand for solar silicon DSS furnaces. As of the end of the second quarter 2008, four furnaces per week were produced, compared to one furnace per week at the end of the fourth quarter 2007. Engineering Systems expects to produce eight furnaces per week by the fourth quarter 2008 to meet customer delivery schedules. During the quarter, the Engineering Systems division also continued to improve the efficiency of its solar furnaces by optimizing the production of ingots made from solar grade silicon at its research facility in Freiberg, Germany.

      Revenue from remelting systems primarily for the aerospace, electronics, and specialty steel industries remained on the strong growth trajectory as the first quarter. Geographically, sales to the Asia Pacific region and Europe drove revenue growth. Almost all product lines achieved strong margins on increased volumes.

      The EBITDA margin improved to 24% during the second quarter 2008 compared to 22% for the same period in 2007. This improved margin is a result of increased sales of vacuum furnace systems based on the division's proprietary technology and increased economies of scale. The division continues to focus on reducing lead times for key product lines in order to meet customer demands while generating margins at levels slightly in excess of 2007.

      During the quarter ended 30 June 2008, capital expenditures increased to $6.7 million, from $3.1 million for the second quarter of 2007. The expansion of the DSS production facility as well as the building and expansion of the Mexican Own and Operate facility were the primary causes for the increase in capital spending.

      Timminco



      Q2'08

      Q2'07

      Change
      Revenue

      $62,710

      $38,464

      63%
      Gross profit
      Operating loss

      10,828
      (8,326)

      1,637
      (2,273)

      561%
      (266)%
      EBITDA

      6,484

      918

      606%
      Capital expenditures

      12,691

      4,793

      165%


      Timminco's revenue for the second quarter 2008 was $62.7 million compared with $38.5 million in the second quarter 2007, an increase of 63%. The increase is primarily attributable to the record sales of Timminco's solar grade silicon and silicon metal products. Gross profit also achieved record levels within the silicon product line due to the increased volume of solar grade silicon and higher average selling prices for silicon metal.

      Silicon gross profit for the second quarter 2008 was $8.6 million or 19.3% of sales compared to a gross profit loss of $1.1 million in the second quarter of 2007. Timminco sold 221 metric tons of solar grade silicon during the second quarter 2008 at an average price of $65/kg. The main contributor to the increase in margin was the increase in sales of solar grade silicon. Included in cost of sales are $2.1 million of incremental production costs incurred in the quarter due to the continuing ramp up of the solar grade silicon facility. Magnesium gross profit for the second quarter 2008 was $2.2 million or 12.5% of sales compared to $2.1 million or 13.3% of sales in the second quarter of 2007.

      Timminco had an operating loss in the quarter which is attributable to the one-time restructuring charge of $13.1 million associated with the closure of the Haley, Ontario Magnesium facility. The closure of this facility is expected to result in annual cost savings of approximately $5.0 million. Excluding this charge, operating income was $4.8 million in the second quarter of 2008 due to higher gross profit which was partially offset by increased selling, general and administrative expenses. Higher professional fees and travel related to various strategic initiatives resulted in an increase in SG&A.

      In the quarter ended 30 June 2008, Timminco began the construction of an expansion to its solar grade silicon production capacity. This expansion is expected to bring the annual solar grade silicon production capacity to 14,400 metric tons. Sources of funding for this expansion include cash on hand, cash flow from operations, the Company's existing credit facilities and customer deposits. Customer deposits totalled $7.6 million in the second quarter of 2008. Continued growth in solar silicon revenues and gross margin improvement are expected for the balance of 2008.

      Graphit Kropfmühl


      Since
      ownership
      Revenue

      $24,624
      Gross profit
      Operating income

      3,849
      2,342
      EBITDA

      2,988
      Capital expenditures

      1,952


      Since its acquisition on 22 April 2008, Graphit Kropfmühl ("GK") has generated $24.6 million in revenue and $3.8 million in gross profit. The EBITDA margin for the Company was a healthy 12.1%. GK has spent nearly $2.0 million on projects to improve their production capabilities in both their graphite and silicon operations since the acquisition.
      Avatar
      schrieb am 31.07.08 11:15:26
      Beitrag Nr. 27 ()
      Jul 30, 2008 17:26 ET
      AMG Subsidiary Timminco Confirms Extension of Solar Grade Silicon Supply Agreement With Q-Cells

      AMSTERDAM, NETHERLANDS--(Marketwire - July 30, 2008) - AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") today announced that its 50.5% subsidiary Timminco Limited's ("Timminco"; TSX: TIM) existing solar grade silicon supply agreement between its wholly-owned subsidiary, Bécancour Silicon Inc. ("BSI"), and Q-Cells AG ("Q-Cells"; QCE: Frankfurt Stock Exchange) has been formally extended for 2010 through 2013, with deliveries of 6,000 metric tons per year, as anticipated in the initial announcement of the agreement on March 26, 2008. Pricing for deliveries in the years 2008 to 2010 is fixed, and for the years 2011 to 2013 will be based upon market conditions, within a fixed floor to ceiling price range. Q-Cells is the world's largest manufacturer of solar cells.
      Avatar
      schrieb am 23.07.08 18:24:58
      Beitrag Nr. 26 ()
      Antwort auf Beitrag Nr.: 34.570.603 von Balubine am 23.07.08 16:19:57Dank Dir :)
      Avatar
      schrieb am 23.07.08 16:19:57
      Beitrag Nr. 25 ()
      Antwort auf Beitrag Nr.: 34.568.343 von meinolf67 am 23.07.08 12:20:41Anmerkung zum Posting vom meinolf67:

      Die Shaw Areva MOX-Brennstoffherstellungs-Fabrik ist ein wichtiges Element im Programm der Vereinigten Staaten zur Beseitigung von überschüssigem Waffen-Plutonium. Die Vereinigten Staaten haben rund 34 Tonnen überschüssiges Waffen-Plutonium gelagert an regierungseigenen Standorten im ganzen Land. Shaw Areva MOX-Services LLC werden überschüssiges Waffen-Plutonium bearbeiten, Verunreinigungen entfernen, mit Uranoxid mischen und zu MOX-Brennstoff Pellets für Reaktor-Brennelemente formen. Diese Brennelemente werden benutzt um kommerzielle Atomreaktoren zu
      betreiben.

      Die Shaw Areva MOX-Brennstoffherstellungs-Fabrik wird nach Beginn der Produktion in der Lage sein, jährlich 3,5 Tonnen von waffenfähigem Plutonium in MOX-Brennelemente zu verwandeln.

      balubine
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