Amag Austria Metall Ag · VIE:AMAG
Amag Austria Metall — Q3 2023 Earnings Presentation
36 slides from Amag Austria Metall's earnings presentation, Oct 25, 2023
Slide 1: Presentation Q3 2023
Presentation Q3 2023 October 25, 2023 TEAMAMAG T E A M F U T U R E
Slide 2: Disclaimer
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 October 18, 2023. In the event that the assumptions underlying these forecasts prove to be incorrect, targets
Slide 3: Highlights of the First Three Quarters 2023
HIGHLIGHTS OF THE FIRST THREE QUARTERS 2023 3 SIGNIFICANT GROWTH IN OPERATING CASH FLOW › Product and sector diversity as well as the interest held in the smelter in Canada secure solid earnings trend within a challenging environment › Continued positive trend in demand from the aircraft sector; sta
Slide 4: Four Awards in One Week
FOUR AWARDS IN ONE WEEK … 4 … CONFIRM SUCCESSFUL PATH IN A WIDE RANGE OF AREAS Effective Sustainability Green Business Data Austria‘s Leading Austrian SDG Award Communication Award Award Companies Award › Awarded for outstanding › First place confirms › AMAG wins award for › Award for outstanding su
Slide 5: Q1-Q3/2023 Business Performance
Q1-Q3/2023 BUSINESS PERFORMANCE Presentation Q3 2023 AMAG Austria Metall AG
Slide 6: Market and Sentiment Situation
MARKET AND SENTIMENT SITUATION 6 CONTINUED WEAK PMI* BUT GOOD DEMAND IN TRANSPORT SECTOR 2022 2023 Region/Country Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep World 53 54 53 52 52 52 51 50 50 49 49 49 49 50 50 50 50 49 49 49 49 Euro Zone 59 58 57 56 55 52 50 50
Slide 7: Aluminium Price Trend
ALUMINIUM PRICE TREND 7 LARGELY STABLE BELOW THE PREVIOUS YEAR’S LEVEL Aluminium price trend in USD/t Ø Aluminium price (3-month LME) in USD/t 3,500 -158 USD/t -530 USD/t (-6.7 %) (-18.7 %) High at 3,968 USD/t 3,000 2,836 March 7, 2022 2,500 2,358 2,306 2,200 2,000 Currently at 2,186 USD/t October 1
Slide 8: Alumina Price Trend
ALUMINA PRICE TREND 8 OVERALL HIGHER PRICE LEVEL AS % OF ALUMINIUM PRICE Alumina price trend in USD/t Ø Alumina price in USD/t and as % of LME 500 -3 USD/t -29 USD/t LME %: +0.9 ppt LME %: +1.8 ppt High at 506 USD/t March 21, 2022 376 400 339 336 347 300 Currently at 338 USD/t October 18, 2023 200 1
Slide 9: AMAG Group Shipments
AMAG GROUP SHIPMENTS 9 SHIPMENTS OF ROLLED PRODUCTS DOWN DUE TO MARKET CONDITIONS Shipment volumes (external) in tonnes Q1-Q3/2022 319,200 -4.9 % Q1-Q3/2023 303,700 0 100,000 200,000 300,000 Change in shipment volumes compared to Q1-Q3/2022 in tonnes Metal: +100 Continued stable production levels
Slide 10: Rolling Division: Shipments by Industry
ROLLING DIVISION: SHIPMENTS BY INDUSTRY 10 FLEXIBILITY IN THE PRODUCT PORTFOLIO HAS A STABILISING EFFECT Packaging +1 kto Automotive (OEM) 20% Sports/architecture/ electronics/others -4 kto +2 kto Specialty products 6% 21% for numerous industries +2 kto 13% Heat exchangers Aircraft +4 kto 14% Indust
Slide 11: AMAG Group Revenue
AMAG GROUP REVENUE 11 EUR 1 BILLION LEVEL CLEARLY EXCEEDED Revenue in EUR million 4.8 Q1-Q3/2022 292.4 128.5 928.2 1,353.9 4.2 -15.6 % Q1-Q3/2023 238.3 119.0 781.3 1,142.8 Metal Casting Rolling Service Revenue reconciliation compared to Q1-Q3/2022 in EUR million Q1-Q3/2022 1,353.9 Aluminium price -1
Slide 12: AMAG Group EBITDA in Q1-Q3/2023
AMAG GROUP EBITDA IN Q1-Q3/2023 12 OPERATING RESULT ABOVE PRE-CRISES LEVEL IN 2019 EBITDA in EUR million Q1-Q3/2022 217.4 -23.6 % Q1-Q3/2023 166.0 0 50 100 150 200 EBITDA reconciliation compared to Q1-Q3/2022 in EUR million Q1-Q3/2022 217.4 Aluminium price -37.7 Price/premiums +1.2 Raw materials/ene
Slide 13: Change in EBITDA by Division
CHANGE IN EBITDA BY DIVISION 13 PREVIOUS YEAR’S RECORD EARNINGS RELATIVISE EBITDA DIFFERENCES Change in EBITDA compared to Q1-Q3/2022, in EUR million [Change in EUR million] Metal Division › Continued stable production levels in Canada ensure solid shipment volumes -37.7 › Good earnings trend with l
Slide 14: AMAG Group EBITDA in Q3
AMAG GROUP EBITDA IN Q3 14 SATISFACTORY EARNINGS IN A CHALLENGING ENVIRONMENT EBITDA in EUR million Q3/2022 60.8 -20.7 % Q3/2023 48.2 0 20 40 60 EBITDA reconciliation compared with Q3/2022, in EUR million Q3/2022 60.8 Aluminium price -9.0 Price/premiums -2.7 Raw materials/energy +13.0 Volume/mix -26
Slide 15: Net Income After Taxes, AMAG Group
NET INCOME AFTER TAXES, AMAG GROUP 15 GOOD EARNINGS TREND IN THE FIRST NINE MONTHS Net income after taxes in EUR million Q1-Q3/2022 106.7 -34.7 % Q1-Q3/2023 69.7 0 25 50 75 100 Net income after taxes reconciliation compared with Q1-Q3/2022, in EUR million Q1-Q3/2022 106.7 EBITDA -51.4 Depreciation +
Slide 16: Overview of Key Financial Figures
OVERVIEW OF KEY FINANCIAL FIGURES 16 KEY GROUP FIGURES IN +/- +/- EUR MILLION Q1-Q3/2023 Q1-Q3/2022 in % Q3/2023 Q3/2022 in % Total shipments in tonnes 327,700 341,500 -4.0% 106,500 116,400 -8.5% Revenue 1,142.8 1,353.9 -15.6% 346.4 449.6 -23.0% EBITDA 166.0 217.4 -23.6% 48.2 60.8 -20.7% EBITDA marg
Slide 17: Overview of Key ESG Figures
OVERVIEW OF KEY ESG FIGURES 17 KEY ENVIRONMENTAL, SOCIAL & GOVERNANCE FIGURES FOR THE +/- RANSHOFEN SITE Unit Q1-Q3/2023 Q1-Q3/2022 in % Ø Scrap utilisation rate % 75.5 76.0 Ø Share of specialties % 57 49 Specific energy consumption kWh/tonne 1,160 1,157 +0.3% Specific CO2 emissions (Scope 1 & 2) to
Slide 18: AMAG Group Cash Flow
AMAG GROUP CASH FLOW 18 SIGNIFICANT GROWTH IN OPERATING CASH FLOW [in EUR million] Cash flow from operating activities in Q1-Q3/2023 40.5 › Operating cash flow close to EBITDA level due to implemented working capital optimisations 157.0 › Previous year’s cash flow negatively influenced by build-up o
Slide 19: AMAG Group Balance Sheet Figures (1/2)
AMAG GROUP BALANCE SHEET FIGURES (1/2) 19 ONGOING STABLE TREND EBITDA (LTM) in EUR million and net Net financial debt in EUR million debt/EBITDA* Net financial debt reflects higher 600 inventory financing 300 257.0 491.6 506.8 249.2 247.1 500 250 239.9 432.6 223.9 208.4 395.8 393.3 386.4 195.7 400 3
Slide 20: AMAG Group Balance Sheet Figures (2/2)
AMAG GROUP BALANCE SHEET FIGURES (2/2) 20 CONSISTENTLY HIGH EQUITY AND SOLID CASH BALANCES Equity in EUR million Cash and cash equivalents in EUR million 800 742.8 742.5 749.4 350 719.4 710.3 314.7 686.7 700 300 285.7 292.8 275.9 629.5 591.5 600 250 231.0 213.9 500 200 171.4 400 150 127.9 300 100 20
Slide 21: Metal Division
METAL DIVISION 21 SOLID EARNINGS BELOW PREVIOUS YEAR'S LEVEL DUE TO MARKET CONDITIONS Q1-Q3 Q1-Q3 +/- Q3 Q3 +/- EUR MILLION 2023 2022 (%) 2023 2022 (%) EBITDA trend in EUR million Total shipments in 42.3 tonnes 96,000 95,900 +0.1% 33,100 35,700 -7.3% External shipments 34.9 32.5 in tonnes 96,000 95,
Slide 22: Casting Division
CASTING DIVISION 22 STABLE PRODUCTION PAIRED WITH HIGH PRODUCTIVITY Q1-Q3 Q1-Q3 +/- Q3 Q3 +/- EUR MILLION 2023 2022 (%) 2023 2022 (%) EBITDA trend in EUR million Total shipments in tonnes 72,900 71,500 +2.0% 24,200 24,500 -1.2% 5.1 External shipments 4.6 in tonnes 49,200 49,200 0.0% 16,100 15,600 +3
Slide 23: Rolling Division
ROLLING DIVISION 23 SOLID TREND IN A CHALLENGING ENVIRONMENT Q1-Q3 Q1-Q3 +/- Q3 Q3 +/- EUR MILLION 2023 2022 (%) 2023 2022 (%) EBITDA trend in EUR million Total shipments in tonnes 158,800 174,100 -8.8% 49,200 56,200 -12.5% 46.3 43.3 External shipments 40.0 37.4 in tonnes 158,500 174,100 -9.0% 49,00
Slide 24: Outlook for 2023
OUTLOOK FOR 2023 Presentation Q3 2023 AMAG Austria Metall AG
Slide 25: Sustainable Growth (1/2)
SUSTAINABLE GROWTH (1/2) 25 GLOBAL DEMAND FOR PRIMARY ALUMINIUM 80 Primary aluminium 2027e: 76.1 million tonnes in millions of tonnes 2023e: 69.4 million tonnes 60 +2 % p.a. 40 2000: 24.7 million tonnes 20 1950: 1.6 million tonnes 0 › Growth curve shows trend in demand for primary aluminium since 19
Slide 26: Sustainable Growth (2/2)
SUSTAINABLE GROWTH (2/2) 26 GLOBAL DEMAND FOR ALUMINIUM ROLLED PRODUCTS 40 Aluminium rolled products in millions of tonnes 2027e: 35.6 million tonnes 2023e: 29.9 million tonnes 30 +4 % p.a. 20 2000: 12.4 million tonnes 10 1950: 1.0 million tonnes 0 › Growth curve shows trend in demand for aluminium
Slide 27: Outlook for 2023
OUTLOOK FOR 2023 27 HIGH ADAPTABILITY DUE TO PRODUCT, SECTOR & CUSTOMER DIVERSITY › The current economic environment* is reflected differently in AMAG’s operating divisions and is flexibly balanced through the company’s broad positioning: › The Metal Division has benefited over many years from an ef
Slide 28: Annex
ANNEX Presentation Q3 2023 AMAG Austria Metall AG
Slide 29: Balance Sheet
BALANCE SHEET 29 in EUR million September 30, 2023 December 31, 2022 +/- (%) Intangible assets and goodwill 16.9 15.1 12.1 Property, plant and equipment 729.0 720.7 1.1 Equity accounted investments 1.6 1.5 3.2 Other non-current assets and financial assets 15.4 15.3 0.5 Deferred tax assets 10.1 17.2
Slide 30: Statement of Profit and Loss
STATEMENT OF PROFIT AND LOSS 30 ACCORDING TO THE COST OF SALES METHOD in EUR million Q3/2023 Q3/2022 +/- (%) Q1-Q3/2023 Q1-Q3/2022 +/- (%) Revenue 346.4 449.6 -23.0 1,142.8 1,353.9 -15.6 Cost of sales -286.4 -378.5 24.3 -936.2 -1,097.8 14.7 Gross profit 60.0 71.1 -15.5 206.6 256.1 -19.4 Other income
Slide 31: Statement of Cash Flows
STATEMENT OF CASH FLOWS 31 in EUR million Q3/2023 Q3/2022 Q1-Q3/2023 Q1-Q3/2022 Earnings before taxes (EBT) 24.3 36.8 93.3 143.9 Net interest result 3.0 3.1 9.3 9.1 Share of profit of associates 0.0 0.0 -0.1 -0.1 Depreciation, amortisation and impairment losses/reversal of impairment losses on non-c
Slide 32: Statement of Comprehensive Income
STATEMENT OF COMPREHENSIVE INCOME 32 in EUR million Q3/2023 Q3/2022 Q1-Q3/2023 Q1-Q3/2022 2022 Net income after taxes 18.7 28.3 69.7 106.7 109.3 Items that are or may be reclassified to profit or loss: Currency translation differences 5.4 12.5 1.7 28.4 9.3 Changes in the hedging reserve Recognized (
Slide 33: Statement of Changes in Equity
STATEMENT OF CHANGES IN EQUITY 33 Non-controlling interests Share of comprehensive owners of the company Revaluation of defined Exchange differences Equity attributable to income of associates Revaluation reserve Retained earnings Fair value reserve Hedging reserve Capital reserves Share capital ben
Slide 34: Service Division
SERVICE DIVISION 34 Q1-Q3 Q1-Q3 +/- Q3 Q3 +/- EUR MILLION 2023 2022 (%) 2023 2022 (%) EBITDA trend in EUR million Revenue 87.6 91.9 -4.6 % 25.7 32.3 -20.4 % External revenue 4.2 4.8 -12.0 % 1.3 1.5 -8.2 % -0.8 -0.7 -0.6 -1.0 -0.9 -1.3 -1.2 -1.7 EBITDA -3.3 -6.3 +48.3 % -0.6 -0.7 +14.5 % EBIT -7.7 -1
Slide 35: IR Information
IR INFORMATION 35 FINANCIAL CALENDAR 2024 February 15, 2024 Publication of 2023 annual financial statements April 24, 2024 Information on Q1/2024 July 25, 2024 H1/2024 report October 24, 2024 Information on Q3/2024 April 1, 2024 AGM record date April 11, 2024 Annual General Meeting (AGM) April 16, 2
Slide 36: AMAG Austria Metall
AMAG.. AUSTRIA METALL