AMG Advanced Metallurgical Group N.V. Reports First Quarter 2019 Results
Revenue increased by 12% to $346.5 million in the first quarter 2019 from $308.4 million in the first quarter 2018
EBITDA(2) was $50.4 million in the first quarter 2019, a 13% increase over the same period in 2018
Amsterdam, 1 May 2019 (Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") reported first quarter 2019 revenue of $346.5 million, a 12% increase from $308.4 million in the first quarter 2018. EBITDA for the first quarter 2019 was $50.4 million, a 13% increase from $44.5 million in the first quarter 2018. EBIT increased 11% to $40.4 million in the first quarter 2019 from $36.3 million in the first quarter 2018.
Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, "AMG achieved a 13% increase in EBITDA during the quarter compared to prior year, mainly driven by AMG Technologies due to increased profitability associated with our turbine blade coating furnaces and higher after-market sales compared to the first quarter of last year."
"AMG Critical Materials generated EBITDA of $31.2 million during the first quarter of 2019, a slight increase of 1% from $30.8 million in the first quarter of 2018, due to strong financial performance in vanadium, chrome and antimony, which was partially offset by lower gross profit in tantalum, graphite, silicon and additional ramp-up costs associated with lithium in Brazil."
"AMG Technologies achieved EBITDA of $19.3 million during the first quarter of 2019, a 40% increase from $13.7 million in the first quarter 2018. Order backlog was $224.1 million as of March 31, 2019."
"In addition, despite ongoing working capital investments and capital expenditures related to the expansion projects, AMG maintained a low level of net debt due to strong profitability in the quarter. AMG continued to generate a high return on capital employed of 28.3% in the first quarter 2019."
|In 000's US dollar|
|Q1 '19 (3)||Q1 '18||Change|
|Net income attributable to shareholders||14,827||18,389||(19%)|
|EPS - Fully diluted||0.47||0.58||(19%)|
|Cash from operating activities||6,935||24,808||(72%)|