EANS-News: AMAG Austria Metall AG / Significant earnings growth and record shipments in FY 2016 (with photo)

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Financial Figures/Balance Sheet/annual result/annual report

- Record shipments of more than 400,000 tonnes
- EBITDA of EUR 143.0 million up 15 % year-on-year
- Net income after taxes grows 14 % to EUR 46.3 million
- Unchanged dividend of EUR 1.20 per share proposed
- AMAG 2020 expansion project running on schedule and on budget

The 2016 financial year was a successful one for AMAG Austria Metall
AG. The company achieved record shipments for the sixth consecutive
year. Driven by strong demand for aluminium, especially from the
transport industry, shipments climbed to an all-time high of 405,900
tonnes (up 6 %). Net income after taxes improved 14 % year on year
from EUR 40.5 million to EUR 46.3 million. The volume and earnings
growth underscores the growth course at the Group's main site in
Ranshofen, supported by the installation of new equipment and
productivity improvements.

Helmut Wieser, CEO of AMAG Austria Metall AG: "With our rolled
products, we're growing faster than the market, boosting our volumes
for sheets and plates for the aircraft industry by 24 %, and strips
for the packaging industry by 13 %. With the megatrend to lightweight
design in automotive construction, the use of aluminium has excellent
growth potentials - here we achieved 44 % volume growth with our
rolled products."

Revenue of EUR 906.2 million was at the previous year's level (EUR
913.3 million). Higher shipment volumes almost fully offset effects
from the lower alverage aluminium price.

Earnings before interest, tax, depreciation and amortisation (EBITDA)
were up by 15 % year-on-year, growing from EUR 123.9 million to EUR
143.0 million. Higher shipment volumes, enhanced productivity, more
favourable raw materials costs and cost optimisation measures at the
Canadian location contributed to this positive earnings trend.

The AMAG Group achieved an operating result (EBIT) of EUR 73.0
million in the 2016 financial year, 33 % up on the previous year's
EUR 54.7 million. Consolidated net income after taxes improved by 14
%, from EUR 40.5 million to EUR 46.3 million.

As a result of its organic growth course, AMAG reported a record
level of investments of EUR 201.3 million in 2016, of which around
EUR 165 million was attributable to the plant expansion in Ranshofen.

More than half of this investment spending was financed from cash
flow from operating activities, which increased by around 5 % to EUR
114.9 million (2015: EUR 109.9 million). Gearing thereby also
remained at a solid level of 35.8 % as of the end of December 2016.

Equity of EUR 630.5 million was almost unchanged compared with the
previous year's end (EUR 638.0 million). Total assets increased to
EUR 1,389.7 million (December 31, 2015: EUR 1,104.3 million) mainly
due to investments in the plant expansion and the recognition on the
balance sheet of the beneficial new electricity contract for the
Canadian site. The equity ratio declined from 57.8 % to 45.4 %
accordingly.

Due to the positive business trend, the Management Board proposes to
the AGM a year-on-year unchanged dividend of EUR 1.20 per share. This
corresponds to a dividend yield of 4.0 % in relation to the
volume-weighted average share price in 2016.

FY 2017 outlook

Rising demand for aluminium and its alloys forms the very promising
basis for the growth path the company is pursuing, and for a positive
business trend in the coming years.

An important milestone is being set in AMAG's strategic development
with the commissioning of the new cold rolling mill and further
finishing plants planned for June 2017, which will increase capacity
for aluminium rolled products to more than 300,000 tonnes. Taking the
planned ramp-up curve into account, AMAG will consequently benefit
from a further rise in shipments in the 2017 financial year.

Helmut Wieser, CEO of AMAG: "We will conclude the second stage of our
plant expansion in June this year, with Europe's most
state-of-the-art aluminium rolling mill going into operation after a
record 16-month construction period. The plant expansion is creating
a total of 450 new jobs at our Ranshofen site, 360 of which have
already been created."

AMAG Group revenue and earnings are nevertheless also significantly
affected by price trends on raw materials and currency markets. As
experience shows, such markets prove very volatile. Therefore it is
still too early to provide a revenue and results forecast for the
2017 financial year. Overall, however, the Management Board is
confident that EBITDA can at least reach the level of the 2016
financial year.

AMAG - key figures

_____________________________________________________________________
________ |in_EUR_million___|_______________2016|_______________2015|_
____________Change| |Shipments in | 405,900|
381,300| 6.5 %| |tonnes___________|___________________|_
__________________|___________________| |of which external|
| | | |shipments in |
375,200| 347,100| 8.1 %|

|tonnes___________|___________________|___________________|___________________|
|Revenue__________|______________906.2|______________913.3|_____________-0.8_%|
|EBITDA___________|______________143.0|______________123.9|_____________15.5_%|
|EBIT_____________|_______________73.0|_______________54.7|_____________33.4_%|

|Net income after | 46.3| 40.5|
14.2 %| |taxes____________|___________________|___________________|__
_________________| |Cash flow from | |
| | |operating | 114.9|
109.9| 4.5 %| |activities_______|___________________|___
________________|___________________| |Cash flow from |
| | | |investing |
-185.4| -91.2| -103.2 %|

|activities_______|___________________|___________________|___________________|
|Employees1)______|______________1,762|______________1,704|______________3.4_%|

______________________________________________________________________________
|in_EUR_million|_______Dec._31,_2016|_______Dec._31,_2015|_______________Change|
|Equity________|_______________630.5|_______________638.0|_______________-1.2_%|
|Equity_ratio__|______________45.4_%|______________57.8_%|____________________-|

1) Average number of employees (full-time equivalents) including
temporary help workers and excluding apprentices. The figure includes
a 20 percent pro rata share of the labour force at the Alouette
smelter, in line with the equity holding.

Pictures with Announcement:
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http://resources.euroadhoc.com/us/PaepoIhZ
http://resources.euroadhoc.com/us/HkrkGSD6

Further inquiry note:
Investor contact:
Dipl.Kfm. Felix Demmelhuber
Head of Investor Relations
AMAG Austria Metall AG
Lamprechtshausenerstrasse 61
5282 Ranshofen, Austria
Tel.: +43 (0) 7722-801-2203
Email: investorrelations@amag.at

Press contact:
Dipl.Ing. Leopold Pöcksteiner
Head of Strategy, Communication, Marketing
AMAG Austria Metall AG
Lamprechtshausenerstrasse 61
5282 Ranshofen, Austria
Tel.: +43 (0) 7722-801-2205
Email: publicrelations@amag.at

end of announcement euro adhoc
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Pictures with Announcement:
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http://resources.euroadhoc.com/us/PaepoIhZ
http://resources.euroadhoc.com/us/HkrkGSD6

company: AMAG Austria Metall AG
Lamprechtshausenerstraße 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: WBI, ATX Prime, VÖNIX, ATX BI, ATX GP
stockmarkets: official market: Wien
language: English

Original-Content von: AMAG Austria Metall AG, übermittelt durch news aktuell