Aluminum producer challenged

AMAG: Profit halved in the first quarter

The year got off to a challenging start for AMAG.(Bild: AMAG)

The lower price of aluminum and a drop in sales volume had an impact on AMAG in Ranshofen: turnover fell to 335.8 million euros in the first quarter, and profit after tax to 13.3 million euros. Nevertheless, CEO Helmut Kaufmann says: "The order situation has improved somewhat."

"Overall, we can look back on a challenging first quarter," says AMAG CEO Kaufmann. After the first three months of the year, turnover amounted to 335.8 million euros, compared to 404.8 million euros in the same period of 2023.

"Some industries cautious as expected"
Profit also slumped: From 26.8 million euros in the first quarter of 2023 to 13.3 million euros. Kaufmann is therefore not throwing away his nerves: "As expected, some industries are showing restraint. We will continue to utilize our broad positioning and high product diversity and react flexibly to the market environment with our international customer structure."

The aluminum producer based in Ranshofen, Austria, primarily blamed the significantly gloomier economic environment in Europe for the weaker figures in the first quarter.