AMAG Austria Metall AG presented its Q1-Q3 2026 results on October 29, 2026, reporting strong operational performance that enabled the Austrian aluminum producer to raise its full-year 2026 EBITDA guidance to EUR 200-220 million from the previous range of EUR 170-190 million. According to the company presentation, as reported by Investing.com, robust demand across key premium markets, operational performance at the Ranshofen site and favorable aluminum pricing lifted profitability across all three operating divisions. The company's shares traded at $30.70, unchanged from the previous close and near the top of their 52-week range of $23.50 to $33.00.
For the first nine months of 2026, revenue reached EUR 1,323.4 million, up 16.4% from EUR 1,137.0 million a year earlier. EBITDA rose 58.9% to EUR 181.4 million from EUR 114.2 million, and the EBITDA margin expanded to 13.7% from 10.0%. Net income after taxes climbed 141.6% to EUR 81.7 million from EUR 33.8 million, while operating profit (EBIT) more than doubled to EUR 124.1 million.
Earnings per share increased to EUR 2.32 from EUR 0.96. The third quarter alone delivered EUR 80.3 million in EBITDA, which the company described as the second-best quarterly result in its history. CEO Victor Breguncci said: "The initiatives we have put in place to boost profitability in Ranshofen are proving effective and have enabled us to capitalise on opportunities that are coming from our key premium markets." The company benefited from a favorable market backdrop.
The average three-month LME aluminum price increased 29% to $3,312 per tonne from $2,570 per tonne year-over-year. The US Midwest premium more than doubled, rising 120% to $2,410 per tonne, while alumina prices declined 21% to $322 per tonne. According to the presentation, these conditions were particularly attractive for the Canadian Alouette smelter, which contributed to the Metal Division's EBITDA increase of EUR 35.3 million.
The division also secured a power contract for 1,085 MW through 2045. The revenue increase of EUR 186.4 million was driven by higher aluminum prices (EUR 133.7 million), improved price realization and premiums (EUR 27.8 million) and volume and mix improvements (EUR 73.3 million). These gains were partly offset by negative impacts of EUR 48.4 million, primarily from a stronger euro against the dollar.
On the EBITDA side, aluminum prices contributed EUR 52.5 million, volume and mix added EUR 38.4 million and pricing and premiums contributed EUR 2.2 million. Raw materials and energy costs reduced EBITDA by EUR 7.3 million, while other factors, including positive valuation effects in the prior year and negative roll-over results in 2026, reduced it by EUR 18.6 million. All three operating divisions posted positive EBITDA variances: the Metal Division by EUR 35.3 million, the Casting Division by EUR 6.3 million and the Rolling Division by EUR 28.6 million.
The Casting Division benefited from capacity utilization of 97-98% of nominal capacity and noticeably improved pricing for recycled cast alloys. Total shipments increased 6.9% to 342,900 tonnes from 320,800 tonnes, led by the Rolling Division, whose external shipments rose to 174,600 tonnes from 158,200 tonnes. The company reported record production in the Rolling Division in September 2026, the highest since AMAG's founding.
Automotive sales rose 44% year-to-date, heat exchanger sales increased 19% and aerospace sales climbed 11%. The accident rate (TRIFR) improved to 0.9 from 1.4 in the prior-year period. Free cash flow turned negative at EUR -67.3 million, compared with EUR 94.2 million a year earlier, due to higher working capital tied up in inventories, reflecting increased production at Ranshofen and sharply rising aluminum prices and premiums.
Net financial debt rose modestly to EUR 401 million as of September 30, 2026, while the net debt-to-EBITDA ratio improved to 2.0x from 2.3x at year-end 2025. Equity increased 9.6% to EUR 786.1 million from EUR 717.1 million at December 31, 2025, and the equity ratio strengthened to 43.8% from 43.2%. Management said operating cash flow improved by more than EUR 20 million between June and September 2026.
The guidance assumes continued strong operational performance across all divisions, realization of anticipated volume increases in the Rolling Division, maintenance of the current tariff regime and continued attractive market conditions for primary aluminum. Management identified risks including adverse short-term changes in market prices, potential changes to US import duties, shipments falling short of expectations and rising energy prices. The Rolling Division's order book remained within its target range of 50,000 to 100,000 tonnes during the third quarter.
Management also said AMAG is not planning immediate capacity expansion and will focus on maximizing output from existing assets. Source: Investing.com, reporting on AMAG's Q1-Q3 2026 results presentation published October 29, 2026. The original article states that it was generated with the support of AI and reviewed by an editor.
Source: ng.investing.com