EANS-News

AMAG Austria Metall AG achieves record earnings in the first three quarters of 2021

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Quarterly Report

Ranshofen -

* Revenue significantly increased to EUR 923.8 million due to both higher
shipment volumes and attractive aluminium price (Q1-Q3/2020:
EUR 673.2 million)
* EBITDA of EUR 146.5 million clearly above previous year (Q1-Q3/2020:
EUR 79.8 million)
* Net income after taxes up more than fivefold year-on-year to reach
EUR 57.0 million (Q1-Q3/2020: EUR 11.1 million)
* Production in Canada significantly contributes to AMAG's positive business
performance
* Outlook for 2021: Increase of the EBITDA range to between EUR 175 and EUR 195
million, especially due to an improved forecast for the Metal Division as a
consequence of higher aluminium price. Increasing influence of rising
production costs


The AMAG group achieved new highs in revenue and earnings in the first nine
months of 2021. The main reasons were a stable production performance,
increasing shipment volumes and an attractive aluminium price.

As Gerald Mayer, CEO of AMAG Austria Metall AG, commented: "After a difficult
year 2020, we have been able to cope with the challenges in connection with the
rapid recovery since the beginning of the year and have achieved a very positive
result. Aluminium production in Canada contributes significantly to that. At our
Ranshofen site, we successfully met high demand from various industries and at
the same time implemented planned plant modernisations on schedule. The most
important bottleneck is currently the availability of suitable specialist staff
for production. At present we are looking for around 100 employees."

Revenue reflects the higher aluminium price and premium level as well as the
increase in shipment volumes. Specifically, the first three quarters of 2021
reflect an average 3-month aluminium price of 2,393 USD/t compared with 1,663
USD/t in the previous year (+44 %). Shipment volumes were up by 33,900 tonnes to
337,800 tonnes. Overall, revenue thereby reached a new high of EUR 923.8 million
in the first nine months of the reporting year (Q1-Q3/2020: EUR 673.2 million).

At EUR 146.5 million, earnings before interest, taxes, depreciation and
amortisation (EBITDA) once again represent a record figure in AMAG's history,
following the pleasing half-year result (Q1-Q3/2020: EUR 79.8 million). The pre-
crisis result of 2019 (EUR 143,0 million) therefore has already been
outperformed. Higher revenue and full capacity utilisation at the Canadian