30.04.2020, 7734 Zeichen

Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.Quarterly ReportRanshofen -- Profitability up compared to first quarter of the previous year- Revenue of EUR 246.4 million below previous year's EUR 274.4 million- Operating result (EBITDA) grows to EUR 36.5 million, mainly thanks to lowerraw material costs (Q1 2019: EUR 33.0 million)- Net income after taxes at EUR 11.5 million, 51 % higher than inQ1 2019 (EUR 7.6 million)- Since mid-March, first effects from COVID-19 pandemic- Outlook 2020: Noticeable decrease in earnings expected due to COVID-19pandemic; extent of this reduction cannot be forecast at present due to highlevel of market uncertaintiesAMAG Austria Metall AG made a successful start to 2020. Profitability hasincreased significantly compared with Q1 2019. Earnings figures rose at alllevels, while revenue decreased by around 10 % from EUR 274.4 million to EUR246.4 million.In addition to the lower aluminium price, the main reason for the decrease inrevenues was an 11 % reduction in shipment volumes (99,600 tonnes compared with111,600 tonnes in Q1 2019), mainly due to a weather-related delay of primaryaluminium in Canada. Deliveries of aluminium rolled products to the automotiveand aerospace sectors grew compared with Q1 2019. Shipments of rolled productsfor the distribution area decreased due to the market conditions.The AMAG Group's earnings before interest, taxes, depreciation and amortisation(EBITDA) increased from EUR 33.0 million to EUR 36.5 million in a quarter-on-quarter comparison, which is mainly thanks to the positive performance in theMetal Division.EBITDA in the Metal Division increased from EUR 0.1 million to EUR 13.4 million.A high production level at the Canadian smelter participation Alouette and morefavourable raw material and energy costs exerted a positive impact, which morethan offset the effect of the lower aluminium price.In the Casting Division, EBITDA reduced slightly from EUR 1.9 million in Q1 2019to EUR 1.4 million due to market conditions.EBITDA in the Rolling Division amounted to EUR 22.1 million, compared with EUR32.1 million in Q1 2019. In addition to market-related lower price and shipmentvolume levels, this reduction also reflected valuation effects in connectionwith the lower price of aluminium.EBITDA in the Service Division improved slightly quarter-on-quarter from EUR -1.1 million to EUR -0.4 million.Thanks to the positive operative performance, the AMAG Group recorded a 21 %increase in earnings before interest and taxes (EBIT) from EUR 12.8 million toEUR 15.5 million. Depreciation and amortisation changed only marginally in aquarter-on-quarter comparison, from EUR 20.2 million to EUR 21.0 million.Net income after taxes increased by 51 % from EUR 7.6 million to EUR 11.5million compared to the first quarter of 2019.Thanks to the positive earnings trend and the lower aluminium price,improvements were also achieved in cash flow from operating activities, whichalmost doubled from EUR 7.8 million to EUR 14.9 million in a quarter-on-quartercomparison. Cash flow from investing activities amounted to EUR -15.0 million,compared with EUR -21.9 million in the previous year's quarter. Free cash flowimproved from EUR -14.1 million in Q1 2019 to EUR -0.1 Million.Net financial debt was reduced further, amounting to EUR 290.9 million as ofMarch 31, 2020, compared with EUR 292.9 million as of December 31, 2019 and EUR328.7 million as of March 31, 2019. Liquidity remains at a high level in amulti-year comparison, standing at EUR 267.6 million as of March 31, 2020, analmost unchanged level compared to the end of 2019.Outlook for 2020:After a good start to 2020, further trends are strongly influenced by the COVID-19 pandemic. It is unclear how long and to what extent this situation will last,thereby rendering economic consequences unforeseeable at present. Raw materialand currency markets are currently characterised by high volatility, with verylow visibility and reduced customer demand, especially in the automotive andaircraft industries. On April 1, 2020, short-time working was introduced at theRanshofen site in order to respond flexibly to fluctuations in capacityutilisation. Gerald Mayer, CEO of AMAG Austria Metall AG: "Our broad positioning forms a keycornerstone of our strategy and is particularly effective as a stabilisingfactor in the current market environment. Thanks to our diversified product andcustomer portfolio with a large number of special products, dependency onindividual key customers and industries is comparatively low. The raw materialsupply with aluminium scrap is well secured. With the investments made in recentyears, we were quick to focus on making the supply of raw materials for theRanshofen site largely independent of regions outside Europe."Due to the market environment affected by COVID-19, the Management Board expectsa noticeable decrease in earnings compared to 2019. The extent of this reductioncannot be forecast at present owing to the high level of market uncertainty.AMAG - key figures: _____________________________________________________________________________|EUR_millions_____|____________Q1/2020|____________Q1/2019|_____________Change||Shipments in | 99,600| 111,600| -10.7 %||tonnes___________|___________________|___________________|___________________||of which external| | | ||shipments in | 93,600| 103,000| -9.2 %||tonnes___________|___________________|___________________|___________________||Revenue__________|______________246.4|______________274.4|____________-10.2_%||EBITDA___________|_______________36.5|_______________33.0|_____________10.4_%||EBIT_____________|_______________15.5|_______________12.8|_____________21.2_%||Net income after | 11.5| 7.6| 50.6 %||taxes____________|___________________|___________________|___________________||Cash flow from | | | ||operating | 14.9| 7.8| 91.0 %||activities_______|___________________|___________________|___________________||Cash flow from | | | ||investing | -15.0| -21.9| 31.6 %||activities_______|___________________|___________________|___________________||Employees1)______|______________1,992|______________1,976|______________0.8_%| ______________________________________________________________________________|EUR_millions|___________31/03/2020|___________31/12/2019|_______________Change||Equity______|________________620.3|________________619.3|_______________+0.2_%||Equity_ratio|_______________39.6_%|_______________41.2_%|_____________________||Gearing_____|_______________46.9_%|_______________47.3_%|_____________________|1) Average number of employees (full-time equivalents) including temporary helpworkers and excluding apprentices. The figure includes a 20 percent pro ratashare of the labour force at the Alouette smelter, in line with the equityholding.end of announcement euro adhocissuer: AMAG Austria Metall AG Lamprechtshausenerstraße 61 A-5282 Ranshofenphone: +43 7722 801 0FAX: +43 7722 809 498mail: investorrelations@amag.atWWW: www.amag-al4u.comISIN: AT00000AMAG3indexes: ATX BI, VÖNIX, ATX GP, WBIstockmarkets: Wienlanguage: EnglishDigital press kit: http://www.ots.at/pressemappe/12432/aom

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1. Amag, Aluminium, Produkt, Credit: Amag , (© Aussender)   >> Öffnen auf photaq.com

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