EQS-News: AMAG Austria Metall AG / Key word(s): Half Year Results
AMAG Austria Metall AG: Broad set-up enabled solid half-year results 2025
24.07.2025 / 07:10 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Ranshofen, 24 July 2025
AMAG Austria Metall AG: Broad set-up enabled solid half-year results 2025
• H1/2025 reflects, as expected, the negative impact of the trade
policy-influenced economic environment on earnings since Q2/2025
• Revenues grew by +11.1% to EUR 786.2 million as a result of higher
aluminium prices and increased shipment volumes (H1/2024: EUR 707.7
million)
• EBITDA of EUR 80.6 million increasingly affected by US tariffs and
higher energy, raw material and personnel costs (-15.4% compared to
H1/2024:
EUR 95.3 million)
• Net income after taxes at EUR 23.4 million (-29.9% compared to
H1/2024: EUR 33.4 million)
• Cash flow from operating activities of EUR 76.2 million roughly on par
with the previous year (H1/2024: EUR 75.7 million)
• Outlook for 2025: Adjustment of the EBITDA range for the full year
2025 to EUR 110 million to EUR 130 million as a result of the changed
conditions
After a good start to 2025 (with hardly any negative impact from US import
tariffs in Q1/2025), the subdued market environment and the effects of the
25% US import tariffs had the expected impact on the three operating
divisions of the AMAG Group in the second quarter of 2025. The further
increase in US tariffs to 50%, which came into force on 4 June 2025, had
only a limited impact on the second quarter of 2025. The corresponding
effects on earnings will therefore be felt especially in the second half
of 2025.
Revenues in the first half of 2025 increased significantly compared with
the previous year. However, increasing price pressure in various sales
markets and the considerable cost increases (particularly in the areas of
personnel and energy) in recent years are more and more impacting earnings
and can only be offset to a limited extent by cost savings.
Overall, revenues of the AMAG Group grew by +11.1% to EUR 786.2 million in
the first half of 2025 (H1/2024: EUR 707.7 million). In addition to an
increase of around +6% in the aluminium price, the rise in total sales
volume to 220,400 tonnes (H1/2024: 214,100 tonnes) also had a positive
effect.
EBITDA (earnings before interest, taxes, depreciation and amortisation)
amounted to EUR 80.6 million, down around -15% on the previous year (EUR
95.3 million). In the Metal Division, the decline in earnings, despite
solid shipment volumes and higher average aluminium prices, is primarily
attributable to higher alumina input costs and the impact of global US
import tariffs on aluminium. The Casting Division achieved solid shipment
volumes in the first half of 2025. Increased price pressure in sales of
recycled cast alloys is having a growing impact on earnings figures. In
the Rolling Division, good capacity utilisation was ensured by shifts in
the product mix. However, as a result of the weak economic environment and
changes in the flow of goods, especially due to tariffs, there were some
significant price declines in selected sales markets, coupled with high
energy and personnel costs.
Depreciation and amortisation amounted to EUR 41.9 million in the first
six months of the year under review (H1/2024: EUR 44.6 million). Operating
profit (EBIT) declined by -23.6% to EUR 38.8 million (H1/2024: EUR 50.8
million). Net income after taxes amounted to EUR 23.4 million (H1/2024:
EUR 33.4 million).
Cash flow from operating activities in the first half of 2025 was roughly
on a par with the previous year at EUR 76.2 million (H1/2024: EUR 75.7
million). The reduction in inventories had a particularly positive impact.
Cash flow from investing activities was EUR -27.2 million, compared with
the previous year (H1/2024: EUR -48.5 million). This resulted in a
significant growth in free cash flow to EUR 49.1 million (H1/2024:
EUR 27.2 million).
At 30 June 2025, net financial debt was EUR 385.6 million, which was
basically the same as at the end of 2024 (EUR 382.3 million). The AMAG
Group's equity was solid at EUR 736.0 million on 30 June 2025 (31 December
2024: EUR 740.9 million). The equity ratio increased to 44.3% as at 30
June 2025 (31 December 2024: 42.3%).
Outlook for 2025:
The current economic forecasts for 2025 predict subdued growth across all
countries. In addition to volatile trade policy conditions, geopolitical
conflicts are unsettling economic activity across all sectors. The
forecast for the eurozone is currently +1.0%. GDP growth of +1.4% is
anticipated for the USA. The German economy is expected to show moderate
growth of +0.3%, while the Austrian economy is expected to stagnate
again.[1][1]
Dr. Helmut Kaufmann, Chief Executive Officer of AMAG: "Capacity
utilisation has been maintained at a stable level so far, but earnings
losses due to higher personnel and energy costs as well as US tariffs
cannot be offset in the short term. It is therefore urgently necessary to
reach a viable agreement with the US government on future trade
conditions, to improve conditions in Austria as a business location and
for the collective bargaining negotiators to show realism in the autumn
round of talks."
In the Metal Division, earnings are mainly determined by production
volumes in Canada and the price level for aluminium, premiums and raw
materials. On the price side, global US import tariffs are currently
having a negative impact on premium revenues. AMAG will continue to
respond flexibly to this situation and also implement deliveries outside
the USA. The loss of tariff exemptions from Canada in recent years will
nevertheless be reflected negatively in the earnings of the Metal
Division.
The Casting Division will continue to face a weak environment in the
automotive industry in the second half of 2025. Increasing price pressure
in sales of recycled cast alloys is expected to impair earnings quality.
Continued price pressure is also expected in the Rolling Division.
Shipments and earnings in the transport sector are anticipated to be below
the prior-year level. This is due in particular to the weak automotive
industry and construction rate shifts in the aviation industry. A positive
trend is evident in the packaging industry. At present, it is assumed
that, as a result of the changed product mix, total sales of aluminium
rolled products for the year as a whole will at least match the previous
year's level. The high energy and personnel costs and the increasing
impact of US tariffs cannot be fully offset in the short term. Overall,
earnings in the Rolling Division are expected to be significantly below
the previous year's level in 2025.
As a result of the changed conditions, the AMAG Management Board currently
anticipates EBITDA for the AMAG Group for the full year 2025 in a range
between EUR 110 million and EUR 130 million. There is still a lot of
uncertainty about how tariffs might change.
AMAG key figures:
Q2/2025 Q2/2024 Change H1/2025 H1/2024 Change
in % in %
Shipments in tonnes 109,600 110,000 -0.4 220,400 214,100 +2.9
of which external shipments 100,100 101,200 -1.1 201,100 196,700 +2.2
in tonnes
Revenues in EUR million 384.8 371.9 +3.5 786.2 707.7 +11.1
EBITDA in EUR million 34.6 53.0 -34.7 80.6 95.3 -15.4
EBIT in EUR million 15.0 30.6 -51.1 38.8 50.8 -23.6
Net income after taxes in 7.2 20.1 -64.1 23.4 33.4 -29.9
EUR million
Cash flow from operating 25.9 40.1 -35.3 76.2 75.7 +0.8
activities in EUR million
Cash flow from investing -10.4 -22.5 +53.8 -27.2 -48.5 +43.9
activities in EUR million
Employees in FTE^1) 2,198 2,235 -1.6 2,215 2,233 -0.8
30 June 2025 31 December 2024 change
in %
Equity in EUR million 736.0 740.9 -0.7
equity ratio in % 44.3 42.3
Gearing in % 52.4 51.6
[1) Average number of employees (full time equivalent) including contract
workers, excluding apprentices and, since July 2024, also excluding
holiday interns (adjustment also made retroactively for Q2/2024 and
H1/2024). Includes the 20% personnel share of the interest in the Aloutte
smelter and the employees of AMAG components.]
About the AMAG Group
AMAG is a leading Austrian premium supplier of high-quality aluminium cast
and rolled products used in a wide range of industries, including the
aircraft, automotive, sporting goods, lighting, mechanical engineering,
construction and packaging industries. The Alouette smelter in Canada, in
which AMAG holds a 20% interest, produces high-quality primary aluminium
with an exemplary environmental balance. AMAG components, based in Übersee
am Chiemsee (Germany), also manufactures ready-to-install metal parts for
the aerospace industry.
Investor contact Press contact
Mag. Christoph M. Gabriel, BSc MMag. Alexandra Hanischläger, MBA
Head of Investor Relations Head of Communications and Marketing
AMAG Austria Metall AG AMAG Austria Metall AG
Lamprechtshausener Straße 61 Lamprechtshausener Straße 61
5282 Ranshofen, Austria 5282 Ranshofen, Austria
Tel.: +43 (0) 7722-801-3821 Tel.: +43 (0) 7722-801-2673
Email: investorrelations@amag.at Email: publicrelations@amag.at
Website: www.amag.at
NOTE
The forecasts, plans and forward-looking statements and assessments
contained in this publication were made on the basis of all information
available to AMAG up to 14 July 2025. The economic and trade policy
environment has changed several times in recent weeks. Internal
calculations/earnings analyses are based on various assumptions. These
include, among other things, the continued validity of the global US
import tariffs on aluminium products. If the assumptions underlying the
forecasts do not materialise, targets are not achieved or risks arise,
actual results may differ from those currently anticipated. We assume no
obligation to update such forecasts in light of new information or future
events.
This publication has been prepared with the greatest possible care and the
data has been checked. However, rounding, transmission or printing errors
cannot be ruled out. In general, rounding may result in deviations in the
figures, totals and percentages shown. AMAG and its representatives accept
no liability for the completeness or accuracy of the information contained
in this publication. This publication is also available in German, whereby
the German version shall prevail in cases of doubt.
This publication does not constitute a recommendation or invitation to buy
or sell securities of AMAG.
[2]^[1] See, among others, ifo Institute, ifo Economic Forecast Summer
2025, June 2025, and WIFO, Economic Forecast 2/2025, June 2025.
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24.07.2025 CET/CEST This Corporate News was distributed by EQS Group.
www.eqs.com
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Language: English
Company: AMAG Austria Metall AG
Lamprechtshausener Straße 61
5282 Ranshofen
Austria
Phone: +43 7722 801 0
Fax: +43 7722 809 498
E-mail: investorrelations@amag.at
Internet: www.amag-al4u.com
ISIN: AT00000AMAG3
WKN: A1JFYU
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Munich, Stuttgart; Vienna Stock Exchange (Official Market)
EQS News ID: 2173736
End of News EQS News Service
2173736 24.07.2025 CET/CEST
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