Key Highlights
  • Revenue increased by 9% to $258.0 million in the first quarter 2017 from $237.4 million in the first quarter 2016
  • EBITDA (2) was $33.0 million in the first quarter 2017, a 56% increase over the same period in 2016
  • AMG ended the first quarter 2017 net debt free, with net cash of $0.5 million
  • Net income attributable to shareholders increased by 30% to $15.6 million in the first quarter 2017 from $12.0 million in the first quarter 2016
  • Operating cash flow was $17.8 million in the first quarter 2017, an increase of $22.2 million over the same period in 2016
  • Annualized return on capital employed increased to 25.5% in the first quarter 2017, as compared to 14.7% in the first quarter 2016

Amsterdam, 4 May 2017 (Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") reported first quarter 2017 revenue of $258.0 million, a 9% increase from $237.4 million in the first quarter 2016. EBITDA for the first quarter 2017 was $33.0 million, a 56% increase from $21.2 million in the first quarter 2016. Net income attributable to shareholders increased to $15.6 million in the first quarter 2017 from $12.0 million in the first quarter 2016.

Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, "AMG's focus on operational excellence once again resulted in solid financial results in the first quarter 2017.

AMG Engineering achieved EBITDA of $7.3 million during the first quarter 2017, a 57% increase from $4.6 million in the first quarter 2016. AMG Engineering signed $81.8 million in new orders during the first quarter 2017, representing a 1.29x book to bill ratio. The Engineering segment continues to experience strong demand for turbine blade coating and plasma remelting furnaces for the aerospace market and heat treatment furnaces for the automotive market. Order backlog was $154.3 million as of March 31, 2017, an increase of 14% compared to December 31, 2016. The strong results in AMG Engineering reflect our efforts to diversify our product offerings in recent years, including the introduction of powder metallurgy and SyncroTherm in-line heat treatment furnaces.

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