EANS-News

AMAG Austria Metall AG reports positive earnings development in Q1 2021 - Seite 2

2020 level of EUR 22.1 million.

With depreciation and amortisation unchanged quarter-on-quarter at EUR -21.0
million, the AMAG Group generated earnings before interest and taxes (EBIT) of
EUR 9.3 million (Q1 2020: EUR 15.5 million).

The net income after taxes was clearly positive again in the reporting quarter
at EUR 5.1 million after three quarters of short-time work (Q1 2020: EUR 11.5
million).

The cash flow from operating activities currently amounts to EUR 3.7 million (Q1
2020: EUR 14.9 million) and, above all, reflects the change in working capital
due to the price of aluminium and shipments. With the cash flow from investing
activities virtually unchanged at EUR -15.8 million (Q1 2020: EUR -15.0
million), the free cash flow thus amounts to EUR -12.2 million (Q1 2020: EUR -
0.1 million).

Net financial debt is consistently solid at EUR 326.7 million as of March 31,
2021 (December 31, 2020: EUR 316.8 million). Liquidity was at EUR 315.5 million
as of March 31, 2021 after EUR 304.9 million as of December 31, 2020.

Outlook for 2021:

The economic environment is currently positive. As anticipated, the aircraft
industry is still influenced by the effects of COVID-19.

Gerald Mayer, CEO of AMAG Austria Metall AG, said: "Shipments matched the
excellent pre-crisis level in the first quarter. The decline in sales volume in
the aircraft sector was compensated by increases in other segments, including
automotive in particular. The positive market sentiment is there and in order to
fulfil customers' strong demand, we currently have around 50 open positions at
the Ranshofen plant."

The continuous attractive price level for aluminium and alumina is having a
positive influence on earnings development in the Metal division. The market
environment for recycled cast alloys and aluminium flat rolled products is
developing well. However, the product mix in the Rolling division will still be
affected by COVID-19 this year. Shipping volumes for the aircraft industry are
expected to be at a similar level compared to 2020.

On the basis of the current market situation and the assumptions made, the
Management Board is expecting an EBITDA for the year in the range of EUR 125 to
EUR 140 million.


AMAG - key figures:
_____________________________________________________________________________
|in_EUR_million___|____________Q1_2021|____________Q1_2020|_____________Change|
|Shipments in | 98,500| 99,600| -1.1 %|
|tonnes___________|___________________|___________________|___________________|