If the energy supply remains intact and the prices for it remain stable, the year as a whole should also go well. Demand for aluminum is likely to remain high. However, there are many uncertainties, from the Ukraine war to Covid lockdowns in China and supply chain problems to staff shortages, the quarterly report says.
In the first quarter, good capacity utilization in Ranshofen, a very high aluminum price and stable production at the Canadian subsidiary Alouette resulted in sales increasing by 60 percent to EUR 399 million, according to the company announcement. In particular, “the significant increase in sales volumes and optimization of the product mix at the Ranshofen site” are responsible for the good result in the first quarter. Earnings after taxes rose from EUR 5.1 million in the same quarter of the previous year to EUR 32.5 million.
Austria Metall AG’s earnings before depreciation (EBITDA) more than doubled from 30.3 to 68 million euros. Should the risks not materialise, an annual EBITDA of more than 200 million euros is realistic. After taking depreciation and amortization of 21.6 million euros into account, earnings before interest and taxes (EBIT) increased fivefold in the Amag Group in the first quarter, from 9.3 to 46.3 million euros.
“As a result, we were able to take advantage of the positive market environment and generate the highest quarterly result in Amag’s history. The order situation is at a very good level and secured for the coming months the risks of the energy supply,” says Gerald Mayer, CEO of Amag.
Source: Nachrichten
