The Advanced Materials division generated revenue of US$189.2 million and EBITDA of US$12.1 million in the third quarter 2012, while the Engineering Systems division generated revenue of US$71.1 million and EBITDA of US$5.3 million in the third quarter 2012.
“In this environment of slow economic activity, we have reorganized our management structure with a clear focus on improving efficiencies, reducing operating costs and working capital levels and selective capital expenditures,” said Dr Heinz Schimmelbusch, chairman of AMG's management board and CEO. "These actions have begun to produce results."
In the third quarter AMG generated US$30 million of operating cash flow and reduced SG&A by 9% compared to the second quarter 2012, Dr Schimmelbusch reports.