AMAG Austria Metall AG reported that its revenue exceeded EUR 1 billion in the January-September period despite global inflation and low aluminium prices. This figure amounted to EUR 1.142 billion (-15.6%).
The company cites strong aluminium demand from the aerospace sector. Demand for the metal from car manufacturers also seems to be stable. However, demand for aluminium in the construction sector has decreased.
AMAG shipped 327.7 thousand tonnes of aluminium products in January-September, 4% less than the same period last year (341.5 thousand tonnes). In the third quarter of the year, the company shipped 98.3 thousand tonnes (-8.6% yoy).
The company's profit after tax totalled EUR 18.7 million in the third quarter, compared to EUR 28.3 million in the same period last year. At the end of the nine months of the year, profit totalled EUR 69.7 million, compared to EUR 106.7 million a year earlier.
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