Image: VOLKER WEIHBOLD
The Ranshofen aluminum group Amag As expected, was unable to repeat the good result of the previous year in the 2023 financial year: sales fell by 15.5 percent to 1.46 billion euros, and net profit fell by 39.2 percent to 66.4 million euros, as the company said on announced Thursday. The board of directors and the supervisory board want to propose an unchanged dividend of 1.50 euros per share to the general meeting.
Amag-CEO Helmut Kaufmann, in office since the beginning of the year, emphasizes the good operating result development: “With an Ebitda of 188 million euros, we were able to achieve the second highest operating result in the company’s history to date,” he said, according to the announcement. Taking into account depreciation of 86 million euros (2022: 87.5 million euros), an operating result (EBIT) of 102.4 million euros was generated (2022: 159.7 million euros).
Cash flow from operating activities more than doubled to 181 million euros, and net financial debt was reduced from 393.3 million euros at the end of 2022 to 364.3 million euros at the end of 2023. The debt ratio fell from 55.4 to 48.8 percent.
The decline in sales was due to both lower sales volumes and the lower aluminum price level. However, the demand forecasts for aluminum products are promising, said Kaufmann. We therefore expect good business development in the current year. However, an earnings outlook in the form of an Ebitda range is currently not possible due to the uncertain market and economic developments.
more from economics
