EANS-News

AMAG Austria Metall AG: Aluminium price and raw materials costs impact Q1 2019 results

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Quarterly Report

Ranshofen -

* Market environment characterised by a lower aluminium price and high raw
material prices
* Ramp-up of new plants in the Rolling Division successfully continued
* Revenue up by 4 % to EUR 274.4 million mainly due to shipments increase in the
Rolling Division
* EBITDA of EUR 33.0 million compared with EUR 38.9 million in Q1/2018;
* 2019 outlook: EBITDA in a range between EUR 125 million and EUR 155 million


Market environment
Global demand for primary aluminium and aluminium rolled products continued to
grow in the first quarter of 2019. The market environment, however, was
characterised by unfavourable price trends for aluminium and alumina compared
with the first quarter of 2018. While the average aluminium price fell by 13 %
from 2,164 USD/t to 1,880 USD/t, the average market price for alumina rose by
around 2 % compared with the same period of the previous year.

Q1 2019 in figures:
Because of the positive ramp-up of the new plants in the Rolling Division and
the new melting furnace in the Casting Division, shipment volumes were up by 10
% to 111,600 tonnes compared to the first quarter of the previous year.

The AMAG Group's revenue increased by 4 % year-on-year from EUR 263.2 million to
EUR 274.4 million, which is attributable, in particular, to the higher volume in
the Rolling Division.

Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted
to EUR 33.0 million in the first quarter of 2019, compared with EUR 38.9 million
in the prior-year period. Lower aluminium prices and higher raw material costs
had a particularly negative impact. The higher shipments volumes only partially
offset this effect.

EBITDA in the Metal Division reduced significantly from EUR 10.6 million to EUR
0.1 million mainly due to the lower realised aluminium price and higher raw
material costs.

EBITDA in the Casting Division benefited from significant growth in shipments.
In addition, the first-time application of the new IFRS 16 "Leases" led to an
EBITDA shift from the Service Division to the Casting Division of EUR 0.4
million in the first quarter of 2019. Overall, EBITDA in the Casting Division
climbed from EUR 1.1 million to EUR 1.9 million.

In the Rolling Division, the ramp-up of the new plants continued successfully.
The 9 % increase in shipments from 54,400 to 59,200 tonnes contributed