AMG Advanced Metallurgical Group has reported Q2 2015 revenue of US$257.4 million, an 8% decrease from US$278.9 million in Q2 2014. Net income attributable to shareholders, adjusted for the one-time costs of refinancing, for the second quarter 2015 was US$9.2 million, or US$0.33 per fully diluted share, a 22% increase from US$7.4 million, or US$0.27 in the second quarter 2014.
However, EBITDA was US$25.1 million in the second quarter 2015, a 23% increase from the same period in 2014.
‘AMG earnings and cash flow for the second quarter were strong despite an extremely weak metal price environment and the unfavorable translation impact of foreign currency on reported earnings,’ said Dr Heinz Schimmelbusch, chairman of the management board and CEO. ‘AMG Engineering achieved EBITDA of US$4.2 million during the quarter, the highest in eight quarters, making continuous progress towards our stated objective to reduce cost and return the engineering business to historic levels of profitability in 2016. Order intake of US$81.8 million, representing a 1.45x book to bill ratio, was the highest in thirteen quarters. The improvement was due to orders of heat treatment furnaces for the automotive market, plasma re-melting furnaces for the aerospace market and induction furnaces for powder metallurgy applications.
‘AMG Critical Materials continues to acquire market share in certain business units despite difficult trading conditions and double-digit market price declines in five of AMG's nine critical materials,’ he added.’
This story is reprinted from material from AMG, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.