Metallurgy company AMG reports that its revenue increased by 27% to US$328.1 million in the Q3 2018 from US$258.9 million in Q3 2017.
Gross profit was US$79.6 million in the third quarter 2018, an increase of US$28.3 million, or 55%, over the same period in 2017.
‘Thanks to strong end market fundamentals and our relentless pursuit of improvements in productivity and efficiency, AMG's EBITDA in the third quarter 2018 is the highest reported quarterly EBITDA in 10 years,’ said Dr Heinz Schimmelbusch, chairman of the management board and CEO.
AMG Critical Materials generated EBITDA of US$52.1 million during the third quarter of 2018, an increase of 122% from US$23.5 million in the third quarter of 2017, thanks to increased vanadium prices and strong financial performance in chrome metal and aluminum products, while AMG Engineering achieved EBITDA of US$7.0 million during the third quarter of 2018, an increase of 69% from the third quarter of 2017, driven by higher profitability generated from the delivery of turbine blade coating furnaces and increased after-sales services during the quarter.
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.