Adv
LANGUAGES
English
Hindi
Spanish
French
German
Chinese_Simplified
Chinese_Traditional
Japanese
Russian
Arabic
Portuguese
Bengali
Italian
Dutch
Greek
Korean
Turkish
Vietnamese
Hebrew
Polish
Ukrainian
Indonesian
Thai
Swedish
Romanian
Hungarian
Czech
Finnish
Danish
Filipino
Malay
Swahili
Tamil
Telugu
Gujarati
Marathi
Kannada
Malayalam
Punjabi
Urdu
AL CIRCLE

AMAG reports new high in its earnings for FY2021 backed on aluminium shipments above pre-crisis level

EDITED BY : 2MINS READ

On Thursday, February 17, AMAG Austria Metall AG announced its FY2021 financial results, reporting record earnings and growth in revenue due to stable production, high productivity, and attractive market environment in the primary aluminium sector. Revenue in the entire year stood at EUR 1,259.4 million compared to EUR 904.2 million in FY2020, owing to increased shipment volumes and higher aluminium prices.

AMAG reports new high in its earnings for FY2021 backed on aluminium shipments above pre-crisis level

{alcircleadd}

Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood 70 per cent higher year-on-year at EUR 186.2 million in FY2021 versus EUR 108.2 million a year earlier, thereby resulting in a new high in AMAG’s history. The growth in shipment volumes in all AMAG divisions and product mix optimisations at the Ranshofen site are major drivers for this record.

Net income after taxes jumped almost six-fold to EUR 64.6 million in FY21 from EUR 11.1 million in FY20. Shipment volumes grew across all operating divisions of AMAG and even slightly exceeded pre-crisis levels from 2019, as a result of demand growth for aluminium.

Gerald Mayer, CEO of AMAG, commented: “With stable production output and high productivity, we successfully met high demand from almost all industrial sectors. We implemented product mix optimisations on a targeted basis at our site in Ranshofen and successfully served existing customers. Significant cost inflation, especially for energy,metal alloys and logistics, negatively impacted earnings and margin trends from the second half of 2021 onwards. Our Canadian subsidiary Alouette made a significant contribution to the AMAG Group’s record results as the particularly positive market environment was leveraged successfully.”

AlCirlce Global Aluminium Industry Outlook 2022

For FY2022, AMAG forecasts a global growth of +4.4 % and +3.9 % in the Eurozone. Demand for aluminium is also expected to continue to rise. Gerald Mayer added, “We are confident that, after a record year in 2021, we will again achieve good results in the 2022 financial year, despite significant cost increases. Risks include uncertain geopolitical developments, a significant rise in inflation and negatively impacted supply chains.”

Adv
Adv
Adv
Adv
Adv
Adv
Adv
EDITED BY : 2MINS READ
Adv
Adv
Adv

Responses

Adv
Adv
Adv
Would you like to be
featured with us?
Business Cards
Featured
Want to get your company featured by us?
Business Cards
Featured
Adv
Adv
Business Leads VIEW ON AL BIZ

AL Circle News App
AL Biz App

A proud
ASI member
© 2025 AL Circle. All rights reserved.
AL Circle is not responsible for content from external sources.