AMAG Austria Metall AG: Strong first quarter of 2026 with significant increase in earnings

Ranshofen, 30 April 2026

 

AMAG Austria Metall AG: Strong first quarter of 2026 with significant increase in earnings

 

• Encouraging performance across all operating divisions of the AMAG Group, with a positive contribution to earnings from the Canadian aluminium smelter interest Alouette
• Significant improvement in earnings achieved alongside a slight increase in revenue of +0.6% to EUR 403.8 million (Q1/2025: EUR 401.4 million)
• EBITDA increased to EUR 57.1 million (+23.9% compared to a strong Q1/2025: EUR 46.1 million)
• Net income after taxes rose to EUR 26.5 million (+63.8% compared to Q1/2025: EUR 16.2 million)
• Operating cash flow of EUR -8.4 million especially reflects a volume- and price-related increase in working capital (Q1/2025: EUR 51.1 million)
• Outlook for 2026: Positive development compared with the previous year anticipated across all AMAG divisions. EBITDA range of EUR 150 million to EUR 180 million for the full year 2026

The AMAG Group made a successful start to the 2026 financial year, achieving a significant increase in earnings in the first quarter compared with the previous year. This development was driven by the AMAG Group’s broad set-up and the favourable market environment for primary aluminium. At the Ranshofen site, the high level of operational flexibility and the diverse product and customer structure once again proved their worth. This made it possible, among other things, to capitalise on short-term market opportunities in the automotive sector. Furthermore, through its stake in the aluminium smelter in Canada, AMAG was able to benefit from attractive market prices in the primary aluminium sector.

Dr. Helmut Kaufmann, Chief Executive Officer of AMAG: “The very good earnings in the first quarter of 2026 underline the stability of our business model and the high performance of our organisation. AMAG has thus once again proven itself to be a reliable company, even in a challenging and volatile environment. Expertise across all areas of the business enables high product quality, flexibility and excellent delivery reliability even under the most difficult conditions.” Kaufmann adds: “Personally, I am delighted to be retiring as CEO on the back of such a strong quarterly result and to be able to look forward with confidence to the rest of the year. I wish the whole AMAG team all the best for the future.”

The AMAG Group’s revenues benefited from higher aluminium prices, which more than offset the negative effects of the stronger EUR against the USD. Following EUR 401.4 million in Q1/2025, revenue in the first quarter of 2026 saw +0.6% growth to EUR 403.8 million. Total shipments, at 109,700 tonnes, were roughly on a par with the previous year (Q1/2025: 110,800 tonnes).

Earnings before interest, taxes, depreciation and amortisation (EBITDA) saw significant growth of +23.9% to EUR 57.1 million (Q1/2025: EUR 46.1 million).

The Metal Division saw significant growth in operating profit in the first quarter of 2026 to EUR 31.8 million (Q1/2025: EUR 20.6 million). Thanks to stable production, the Canadian interest Alouette was able to benefit from attractive aluminium and alumina prices. In the Casting Division, EBITDA rose to EUR 1.3 million (Q1/2025: EUR 0.9 million). This represented a positive earnings trend, despite a market environment that remained challenging. The Rolling Division also experienced growth in its operating profit, achieving EUR 25.4 million in the first quarter of 2026 (Q1/2025: EUR 24.4 million). This was primarily due to higher shipment volumes combined with a changed product mix. The consistent implementation of cost-efficiency measures at the Ranshofen site is also having a positive impact.

After taking into account depreciation and amortisation of EUR 19.2 million (Q1/2025: EUR 22.3 million), the AMAG Group generated a 59% increase in earnings before interest and taxes (EBIT) to EUR 37.9 million (Q1/2025: EUR 23.8 million).

Net income after taxes rose by just under +64% in the first quarter of 2026 to EUR 26.5 million compared with the previous year (Q1/2025: EUR 16.2 million).

Cash flow from operating activities, at EUR -8.4 million, was significantly below the previous year’s level (Q1/2025: EUR 51.1 million). This development is primarily attributable to higher capital tied up due to increased aluminium prices, as well as the necessary build-up of inventories resulting from the rise in order intake. With a significantly reduced cash flow from investing activities of EUR -11.3 million (Q1/2025: EUR -16.8 million), free cash flow in Q1/2026 stood at EUR -19.7 million (Q1/2025: EUR 34.4 million).

Net financial debt has been affected by the increase in capital tied up and stood at EUR 341.7 million as at 31 March 2026 (31 December 2025: EUR 321.0 million). Cash and cash equivalents stood at EUR 256.9 million at the end of March 2026 (31 December 2025: EUR 276.5 million).

Outlook for 2026:

The global economic environment is characterised by heightened uncertainty as a result of the war in Iran and the associated sharp rise in energy prices. US trade policy and existing import duties on aluminium products continue to affect the AMAG Group’s earnings performance. Overall, the global economic recovery is increasingly affected by these factors.[1]

A stable strategic positioning, a robust raw materials strategy and a highly diversified portfolio strengthen the AMAG Group’s resilient market position and form the basis for a cautiously optimistic outlook:

In the Metal Division, high utilisation of production capacity and attractive market prices (particularly for aluminium and alumina) are creating very favourable conditions, so that, from today’s perspective, earnings are expected to be higher than in the previous year. In the Casting Division, business performance is anticipated to improve slightly despite the market environment remaining challenging. Declining external demand for recycled cast alloys can be offset by higher internal shipment volumes. For the Rolling Division, the positive order trend, particularly in the automotive and heat exchanger sectors, confirms the anticipated rise in sales of aluminium rolled products in 2026. In selected sales markets, lower price sensitivity is also evident.

Overall, based on current estimates and attractive market prices for primary aluminium, the AMAG Group is anticipated to achieve an EBITDA range of between EUR 150 million and EUR 180 million in 2026.

 

AMAG key figures: 

  Q1/2026 Q1/2025 Change in % Shipments in tonnes 109,700 110,800 -1.0 of which external shipments in tonnes 101,100 101,000 +0.1 Revenues in EUR million 403.8 401.4 +0.6 EBITDA in EUR million 57.1 46.1 +23.9 EBIT in EUR million 37.9 23.8 +59.4 Net income after taxes in EUR million 26.5 16.2 +63.8 Cash flow from operating activities
in EUR million -8.4 51.1 -116.3 Cash flow from investing activities
in EUR million -11.3 -16.8 +32.7 Employees in FTE¹⁾ 2,117 2,232 -5.2

 

  31 March
2026 31 December 2025 Change in % Equity in EUR million 737.5 717.1 +2.9 Equity ratio in % 41.1 43.2   Gearing in % 46.3 44.8   _{1) Average number of employees (full time equivalents) including contract workers, excluding apprentices and summer interns. Includes the 20% personnel share of the interest in the Alouette smelter as well as the employees of AMAG components.}

 

About the AMAG Group

AMAG Austria Metall AG is a leading Austrian premium supplier of high-quality cast and rolled aluminium products, which are used in a wide range of industries, including the aerospace, automotive, sporting goods, lighting, mechanical engineering, construction and packaging sectors. At the Canadian Alouette smelter, in which AMAG holds a 20 per cent interest, high-quality primary aluminium is produced with an exemplary environmental footprint. The AMAG components division, headquartered in Übersee am Chiemsee (Germany), also manufactures ready-to-install metal parts for the aerospace industry.

 

Investor contact	Press contact
Mag. Christoph M. Gabriel, BSc	MMag. Alexandra Hanischläger, MBA
Head of Investor Relations	Head of Communications and Marketing
AMAG Austria Metall AG	AMAG Austria Metall AG
Lamprechtshausener Straße 61	Lamprechtshausener Straße 61
5282 Ranshofen, Austria	5282 Ranshofen, Austria
Tel.: +43 (0) 7722-801-3821	Tel.: +43 (0) 7722-801-2673
Email: investorrelations@AMAG.at	Email: publicrelations@AMAG.at

Website: www.amag.at

 

NOTE

The forecasts, plans and forward-looking assessments and statements contained in this publication have been made on the basis of all information available to AMAG up to 21 April 2026. The economic and trade policy environment has changed several times in recent months. Internal calculations and analysis of earnings are based on various assumptions. These include, amongst other things, the continued validity of the US import tariffs on aluminium products. Should the assumptions underlying the forecasts prove incorrect, targets not be met or risks materialise, actual earnings may differ from those currently anticipated. We undertake no obligation to update such forecasts in light of new information or future events.

This publication has been prepared with the utmost care and the data has been checked. However, rounding, transmission or printing errors cannot be ruled out. In general, rounding may result in discrepancies in the figures, totals and percentages presented. AMAG and its representatives accept no guarantees, in particular for the completeness and accuracy of the information contained in this publication. This publication is also available in German; in cases of doubt, the German version shall prevail.

This publication does not constitute a recommendation or an invitation to buy or sell AMAG securities.

 

^[1] See, for example, the Economic Forecast 1/2026 published by the Austrian Institute of Economic Research (WIFO) in April 2026.