- M A G N I F I C E N T
M A T E R I A L
S T A B L E . F L E X I B L E . I N N O V AT I V E . S U S T A I N A B L E .
Presentation Q1/2024 April 24, 2024
DISCLAIMER | 2 |
Note
- The forecasts, budgets, and forward-looking assessments and statements contained in this presentation were compiled on the basis of all information available to AMAG as of April 12, 2024. In the event that the assumptions underlying these forecasts prove to be incorrect, targets are missed or risks materialise, actual results may depart from those currently anticipated. We are not obligated to revise these forecasts in the light of new information or future events.
- This presentation was prepared and the data contained in it verified with the greatest possible care. Nevertheless, misprints, as well as rounding and transmission errors cannot be entirely ruled out. In particular, AMAG and its representatives do not assume any responsibility for the completeness and correctness of information included in this presentation. This presentation is also available in German. In cases of doubt, the German-language version takes precedence.
- This presentation does not comprise either a recommendation or a solicitation to either purchase or sell securities of AMAG.
Presentation Q1 2024
AMAG Austria Metall AG
HIGHLIGHTS | 3 |
CHALLENGING ENVIRONMENT INFLUENCES QUARTERLY RESULT
- Quarterly performance influenced by lower aluminium price and lower shipment volumes due to partly subdued incoming orders in Q4/2023
- Revenue of EUR 335.8 million below the previous year's level due to price and volume factors (Q1/2023: EUR 404.8 million)
- EBITDA of EUR 42.4 million above Q4/2023, but lower than in previous year's quarter (Q1/2023: EUR 60.8 million)
- Net income after taxes at EUR 13.3 million (Q1/2023: EUR 26.8 million)
- Cash flow from operating activities at the previous year's level of EUR 35.6 million (Q1/2023: EUR 35.6 million)
- Outlook for 2024: From today's perspective and assuming no significant global deterioration in the economic situation, full-year EBITDA is expected to be between EUR 150 million and EUR 180 million
Presentation Q1 2024
AMAG Austria Metall AG
MARKET AND SHIPMENTS
Presentation Q1 2024
AMAG Austria Metall AG
SENTIMENT INDICATOR | 5 |
PURCHASING MANAGERS' INDEX* IN EUROZONE BELOW GROWTH THRESHOLD
2022 | 2023 | 2024 | ||||||||||||||||||||||||||
Region/Country | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | |
World | 53 | 54 | 53 | 52 | 52 | 52 | 51 | 50 | 50 | 49 | 49 | 49 | 49 | 50 | 50 | 50 | 50 | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 50 | 50 | 51 | |
Euro Zone | 59 | 58 | 57 | 56 | 55 | 52 | 50 | 50 | 48 | 46 | 47 | 48 | 49 | 49 | 47 | 46 | 45 | 43 | 43 | 44 | 43 | 43 | 44 | 44 | 47 | 47 | 46 | |
Austria | 62 | 58 | 59 | 58 | 57 | 51 | 52 | 49 | 49 | 47 | 47 | 47 | 48 | 47 | 45 | 42 | 40 | 39 | 39 | 41 | 40 | 42 | 42 | 42 | 43 | 43 | 42 | |
Germany | 60 | 58 | 57 | 55 | 55 | 52 | 49 | 49 | 48 | 45 | 46 | 47 | 47 | 46 | 45 | 45 | 43 | 41 | 39 | 39 | 40 | 41 | 43 | 43 | 46 | 43 | 42 | |
France | 56 | 57 | 55 | 56 | 55 | 51 | 50 | 51 | 48 | 47 | 48 | 49 | 51 | 47 | 47 | 46 | 46 | 46 | 45 | 46 | 44 | 43 | 43 | 42 | 43 | 47 | 46 | |
Italy | 58 | 58 | 56 | 55 | 52 | 51 | 49 | 48 | 48 | 47 | 48 | 49 | 50 | 52 | 51 | 47 | 46 | 44 | 45 | 45 | 47 | 45 | 44 | 45 | 49 | 49 | 50 | |
Spain | 56 | 57 | 54 | 53 | 54 | 53 | 49 | 50 | 49 | 45 | 46 | 46 | 48 | 51 | 51 | 49 | 48 | 48 | 48 | 47 | 48 | 45 | 46 | 46 | 49 | 52 | 51 | |
UK | 57 | 58 | 55 | 56 | 55 | 53 | 52 | 47 | 48 | 46 | 47 | 45 | 47 | 49 | 48 | 48 | 47 | 47 | 45 | 43 | 44 | 45 | 47 | 46 | 47 | 48 | 50 | |
USA | 56 | 57 | 59 | 59 | 57 | 53 | 52 | 52 | 52 | 50 | 48 | 46 | 47 | 47 | 49 | 50 | 48 | 46 | 49 | 48 | 50 | 50 | 49 | 48 | 51 | 52 | 52 | |
Canada | 56 | 57 | 59 | 56 | 57 | 55 | 53 | 49 | 50 | 49 | 50 | 49 | 51 | 52 | 49 | 50 | 49 | 49 | 50 | 48 | 48 | 49 | 48 | 45 | 48 | 50 | 50 | |
China | 49 | 50 | 48 | 46 | 48 | 52 | 50 | 50 | 48 | 49 | 49 | 49 | 49 | 52 | 50 | 50 | 51 | 51 | 49 | 51 | 51 | 50 | 51 | 51 | 51 | 51 | 51 | |
Japan | 55 | 53 | 54 | 54 | 53 | 53 | 52 | 52 | 51 | 51 | 49 | 49 | 49 | 48 | 49 | 50 | 51 | 50 | 50 | 50 | 49 | 49 | 48 | 48 | 48 | 47 | 48 |
- Gloomy sentiment in Eurozone remained largely unchanged in Q1/2024; economic growth of +0.7% expected for the Eurozone in 2024**
- GDP forecasts for Germany and Austria significantly weaker at +0.2% each for 2024**
*The purchasing managers' index for the manufacturing sector is shown. Source: Bloomberg **WIFO Economic Forecast 1/2024, March 2024
Presentation Q1 2024
AMAG Austria Metall AG
AMAG GROUP SHIPMENTS | 6 |
SHIPMENTS BELOW PREVIOUS YEAR DUE TO GLOOMY MARKET ENVIRONMENT
Shipments in tonnes
Q1/2023
Q1/2024
110,400
-5.7 %
104,200
0 | 25,000 | 50,000 | 75,000 | 100,000 |
Change in shipment volume compared to Q1/2023 in tonnes
Metal: +400 tonnes Unchanged stable production at the Alouette smelter in Canada Casting: -1,900 tonnes Shipments of recycling foundry alloys solid, but below previous year's level
Rolling: -4,700 tonnes Subdued order intake in Q4/2023, particularly for industrial applications and in the sports sector, as well as lower shipments of packaging products; Demand from the transport industry continue to develop positively
Presentation Q1 2024
AMAG Austria Metall AG
ROLLING DIVISION: SHIPMENTS BY INDUSTRY | 7 | |||||||||||
PRODUCT MIX WITH UNCHANGED HIGH DIVERSIFICATION | ||||||||||||
Packaging | -4%-pt | Automotive (OEM) | ||||||||||
15% | ||||||||||||
Sports/Architecture/ | -1%-pt | |||||||||||
Electronics/Other | 6% | -0%-pt | ||||||||||
Speciality products for | ||||||||||||
20% | ||||||||||||
numerous industries | ||||||||||||
-1%-pt | ||||||||||||
13% | ||||||||||||
Heat exchangers | Aircraft | |||||||||||
+2%-pt. | ||||||||||||
15% | ||||||||||||
Industrial applications | +2%-pt. | |||||||||||
Sheets and plates for | ||||||||||||
27% | +2%-pt. | |||||||||||
a variety of different | ||||||||||||
5% | ||||||||||||
industries | Other transport | |||||||||||
Percentages refer to shipments in the first quarter of 2024.
The percentage change in percentage points represents the difference in the product mix share compared to Q1/2023.
Presentation Q1 2024
AMAG Austria Metall AG
ROLLING DIVISION: ORDER TREND | 8 |
ORDER BACKLOG AT A SOLID LEVEL OF OVER 60 THOUSAND TONNES
[in thousand tonnes]
› Order intake in Q1/2024 largely as planned
› Average order backlog in Q1/2024 with over 60 thousand tonnes in the AMAG target corridor
› Order development for industrial applications in Europe remains subdued; slight improvement recognisable in USA
› Ongoing destocking in the sports sector; positive trend in the transportation sector
Presentation Q1 2024
AMAG Austria Metall AG
Q1/2024 BUSINESS PERFORMANCE
Presentation Q1 2024
AMAG Austria Metall AG
ALUMINIUM PRICE TREND | 10 |
LOWER QUARTER-ON-QUARTER, BUT NOTICEABLE INCREASE IN APRIL 2024
Aluminium price trend in USD/t
2,800
2,600 | 2,496 USD/t as per | ||
April 12, 2024 | |||
2,400 | |||
2,200
2,000
Ø Aluminium price (3-month LME) in USD/t
3,000 | -193.4 USD/t (-7.9 %) | |||
2,500 | 2,435 | |||
2,281 | 2,200 | 2,224 | 2,241 | |
2,000 | ||||
1,500 | ||||
1,000 | ||||
500 | ||||
0 |
Source: London Metal Exchange (LME)
Presentation Q1 2024
AMAG Austria Metall AG
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AMAG - Austria Metall AG published this content on 22 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 April 2024 05:55:06 UTC.