EQS-News

AMAG Austria Metall AG: Unique set-up enabled good business performance in 2023

EQS-News: AMAG Austria Metall AG / Key word(s): Annual Results  AMAG Austria Metall AG: Unique set-up enabled good business performance in 2023 15.02.2024 / 07:15 CET/CEST The issuer is solely responsible for the content of this announcement. Ranshofen, February 15, 2024

 AMAG Austria Metall AG: Unique set-up enabled good business performance in 2023 

• Rapid response to changes in the market and stable operating performance ensured a successful financial year for AMAG Group
• Revenue of EUR 1,459.2 million after a record previous year (EUR 1,726.7 million)
• EBITDA at EUR 188.4 million is the second-highest level in the company’s history (2022: EUR 247.1 million)
• Solid net income after taxes of EUR 66.4 million (2022: EUR 109.3 million)
• Significant increase in cash flow from operating activities of 110 % up to EUR 180.9 million (2022: EUR 86.1 million)
• Proposed dividend of EUR 1.50 per share
• Outlook 2024: Earnings forecast in the form of an EBITDA range premature due to uncertain market and economic development

Due to its broad set-up, AMAG Austria Metall AG very successfully countered the generally subdued economic environment and reported a good earnings trend in all operating segments. Smelter operations at the production site in Canada remained stable at full capacity. At the headquarters in Ranshofen, diversity in terms of products and sectors was leveraged to optimal extent and the company responded flexibly to changes in demand.

Dr. Helmut Kaufmann, CEO of AMAG, comments: “AMAG’s stability and flexibility once again proved their worth in the 2023 financial year. With EBITDA of EUR 188 million, we achieved the second-highest operating result in the company’s history. We successfully implemented the working capital optimisations that we had announced, and these made a significant contribution to our record cash flow of EUR 181 million. In the 2023 financial year, we also succeeded in implementing our largest capex project of recent years on time and on budget with the construction of a surface treatment centre.”