EANS-Adhoc: AMAG Austria Metall AG / Continuing solid growth figures and favorable development of earnings

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9-month report/Results 3rd Quarter 2011

04.11.2011

- Business development maintains its positive trend in all divisions
in the third quarter of 2011. Order backlog remains satisfactory. -
Significant increases as compared with the first three quarters of
the record year of 2010: Sales: + 15% to EUR 627.6 million; EBIT: +
22% to EUR 90.7 million; Cash flow from operating activities: + 17%
to EUR 77.3 million - Sound balance-sheet structure with an equity
ratio of 57% and low net financial debt of EUR 23.8 million as of the
end of September 2011 - Positive outlook for the fiscal year of 2011
confirmed

Key figures for the AMAG Group

in mEUR Q3/ Q3/ Change Q1-Q3/ Q1-Q3/ Change 2010*)
2011 2010*) in % 2011 2010*) in %

Sales 198.4 192.9 3% 627.6 547.7 15% 728.0

EBITDA 42.7 35.3 21% 124.6 108.2 15% 139.0

Depreciation, amortisaton and
impairment losses (11.5) (11.2) 3% (33.9) (33.8) 0% (45.1)

EBIT 31.2 24.1 29% 90.7 74.5 22% 93.8

Net income after
taxes 27.9 21.5 30% 75.9 58.7 29% 75.7

Earnings
per share (in EUR) 0.79 2.15

Cash flow from
oerating activities 21.5 25.1 (15%) 77.3 66.3 17% 75.4

Cash flow from investing
activities (12.9) (9.8) 31% (29.6) (26.9) 10% (43.5)

Working Capital Employed 1) 249.9 202.9 23% 228.4

Capital Employed 2) 512.4 453.0 13% 466.6

Equity 523.2 495.4 6% 514.2

Net financial debt 3) 23.8 (14.1) - (4.7)

Employees 4) 1,244 1,193 4% 1,230 1,170 5% 1,175

*) The comparable values shown for the year 2010 refer to AMAG Holding GmbH and
its subsidiaries
1) Inventories, trade receivables, trade payables (without trade payables for
investments)
2) Annual average of equity, interest-bearing financial liabilities, cash and
cash equivalents
3) Interest-bearing financial liabilities, plus non-interest bearing loan
(Canada), minus cash and cash equivalents
4) Average full time equivalent including leasing personnel, without
apprentices. The employees of the 20 % participation in smelter Alouette
(approx. 200 employees) are not included.

Development of the AMAG Group in the first three quarters of 2011

In the first three quarters of 2011, the AMAG Group again clearly outperformed
the values achieved in the comparable period of the record year of 2010. Sales
thus were EUR 627.6 million, or 15 % higher than in the corresponding period of
the prior year (EUR 547.7 million). Sales in the third quarter of 2011 amounted
to EUR 198.4 million and at virtually unchanged shipment volumes were thus
slightly above the prior year's level, i.e. by 3 %.

The earnings before interest, taxes, depreciation and amortization
(EBITDA) for the Group after the first three quarters were EUR 124,6
million and were thus EUR 16.4 million (or 15 %) above the EBITDA for
the comparable period in the prior year (EUR 108.2 million). In the
third quarter of 2011, the EBITDA was EUR 42.7 million, i.e., up EUR
7.4 million or 21 % from the amount reported for the comparable
period in the prior year.

EBIT even increased by 22 % to EUR 90.7 million in the first three
quarters as compared with the prior year. A comparison of the third
quarter of the prior year with the same period of the year under
review shows a rise in EBIT by 29 % to EUR 31.2 million.

Overproportional growth was achieved in the surplus for the period.
Net income after taxes for the first three quarters of 2011 was EUR
75.9 million and thus up 29 % from the result generated in the
comparable period of the prior year (+ 30 % to EUR 27.9 million in
the third quarter).

The financing and capital structure reported as of the end of the
quarter, with a low net financial debt of EUR 23.8 million, equity at
EUR 523.2 million and a robust equity ratio of 57 %, forms the solid
basis for the scheduled expansion projects.

Detailed results of the segments can be found in the financial report
3rd Quarter 2011 on the website under www.amag.at / Investor
Relations.

Outlook for 2011

However, the forecasts concerning the consumption of primary
aluminium or aluminium rolled products have not changed fundamentally
since the previous quarter. For primary aluminium, expectations
within the sector are that consumption will rise by between 9 % and
not more than 12 % in 2011. The assessment suggesting that the demand
for aluminium will roughly double over the next 10 to 12 years is
still intact. For the global consumption of rolled products, CRU
continues to expect about 20 million tons (+ 8 %) for 2011 after 18.5
million tons in 2010.

Against this backdrop, and based on the satisfactory order backlog,
AMAG expects that the positive business development will continue in
the last quarter of 2011. Particularly on account of maintenance work
scheduled at the Ranshofen location in August and December, a
reduction in quantities shipped is to be expected for the second
half-year.

The Management Board expects raw material costs in the Metal Division
to continue on a high level in the 4th quarter of 2011. On the
assumption that the price of aluminium will remain stable, the
positive effects from valuation will no longer arise in the 4th
quarter. AMAG's management nevertheless confirms the outlook for 2011
announced in the half-year results and from today's perspective still
expects profitability for 2011 to increase beyond the record levels
achieved in the prior year.

end of ad-hoc-announcement ==========================================
====================================== About AMAG Group AMAG is a
leading Austrian manufacturer of primary aluminium and high-quality
aluminium cast and flat rolled products for various different
industries such as the aircraft, automotive, sports equipment,
lighting, mechanical engineering, construction and packaging
industries. With 1,175 employees, the company achieved sales of EUR
728 million and EBITDA of EUR 139 million in the 2010 fiscal year.

Further inquiry note:
Gerald Wechselauer
Head of Investor Relations
Phone: +43 (0) 7722-801-2203
Email: gerald.wechselauer@amag.at

end of announcement euro adhoc
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issuer: AMAG Austria Metall AG
Lamprechtshausnerstraße 61
A-5282 Ranshofen
phone: +43 7722 801 0
FAX: +43 7722 809 498
mail: investorrelations@amag.at
WWW: www.amag.at
sector: Metal Goods & Engineering
ISIN: AT00000AMAG3
indexes: Prime Market
stockmarkets: official dealing: Wien
language: English