AMAG Austria Metall AG achieves record earnings in the first three quarters of 2021
- Revenue significantly increased to EUR 923.8 million due to both higher shipment volumes and attractive aluminium price (Q1-Q3/2020: EUR 673.2 million)
- EBITDA of EUR 146.5 million clearly above previous year (Q1-Q3/2020: EUR 79.8 million)
- Net income after taxes up more than fivefold year-on-year to reach EUR 57.0 million (Q1-Q3/2020: EUR 11.1 million)
- Production in Canada significantly contributes to AMAG’s positive business performance
- Outlook for 2021: Increase of the EBITDA range to between EUR 175 and EUR 195 million, especially due to an improved forecast for the Metal Division as a consequence
The AMAG group achieved new highs in revenue and earnings in the first nine months of 2021. The main reasons were a stable production performance, increasing shipment volumes and an attractive aluminium price.
As Gerald Mayer, CEO of AMAG Austria Metall AG, commented: “After a difficult year 2020, we have been able to cope with the challenges in connection with the rapid recovery since the beginning of the year and have achieved a very positive result. Aluminium production in Canada contributes significantly to that. At our Ranshofen site, we successfully met high demand from various industries and at the same time implemented planned plant modernisations on schedule. The most important bottleneck is currently the availability of suitable specialist staff for production. At present we are looking for around 100 employees.”