AMAG Austria Metall AG Reports Resilient Performance in Early 2024

In the first three quarters of 2024, AMAG Austria Metall AG showcased resilience amidst challenging economic conditions. Revenues stood at EUR 1,078.7 million, a decrease from EUR 1,142.8 million in the same period of 2023. The group's EBITDA reached EUR 147.6 million, reflecting a robust performance despite economic hurdles, though down from EUR 166.0 million the previous year. Net income after taxes was EUR 54.3 million, compared to EUR 69.7 million in 2023.

The company demonstrated adaptability, particularly in the Metal and Rolling Divisions, which capitalized on market opportunities. However, the Casting Division's earnings were impacted by the weak European automotive market. Operational cash flow remained strong at EUR 109.3 million, although a decline from the previous year.

Looking forward, AMAG expects the economic situation to remain difficult, particularly affecting the Casting and Rolling Divisions. Nevertheless, the company maintains its EBITDA forecast for the year, ranging between EUR 160 and 180 million, contingent upon market developments.