Sales revenues fell by 15.2 percent to 904.2 million euros. However, the order situation has improved in recent months.
The aluminum plant in Ranshofen is reaching its capacity limits. The new plant will be ready in 2017.
Significantly weaker demand due to the corona crisis caused profits at the Upper Austrian aluminum group AMAG to collapse by almost 70 percent last year. Earnings after taxes fell from 38.6 million euros in the previous year to 11.6 million euros. Sales also fell by 15.2 percent to EUR 904.2 million. 2021 will continue to be shaped by the pandemic, so an earnings forecast for the current year would be tempted, it said in the outlook.
In the past few months, however, the general economic situation and the order situation at AMAG – with the exception of the aviation sector – have increasingly improved again. Accordingly, AMAG boss Gerald Mayer expects the facilities to be well utilized again in the first few months of the current financial year.
In contrast, 2020 was characterized by a sharp drop in demand in the transport and retail sectors. Sales were also burdened by a lower aluminum price and its stronger euro-dollar exchange rate. The decline in the operating results is primarily due to the lower sales volumes in the rolling and casting segments, but also to the changes in the product mix due to the corona crisis, AMAG announced on Thursday.
Earnings before interest, taxes, depreciation and amortization (EBITDA) fell year-on-year from 143.0 to 108.2 million euros, while earnings before interest and taxes (EBIT) fell by 58.5 percent to 25.3 million euros.
AMAG nevertheless plans to pay out a dividend for 2020. The proposal is to be EUR 0.50 per share and will be approved at the Annual General Meeting on April 13th.
