AMAG Significantly Boosts Revenue and Profit in First Nine Months
Published
The Austrian aluminium group AMAG has recorded a significant increase in earnings in the first three quarters of this year. According to the company, revenue rose by 16.4 percent to 1.32 billion euros in the period from January to September.
Adjusted operating profit, known as EBITDA, also grew strongly. It increased by 58.9 percent. EBITDA shows how much money a company earns from its ongoing business before taxes, interest and depreciation are deducted. The term "adjusted" means that one-off effects are not included in the calculation.
AMAG is one of the most important industrial companies in Upper Austria and has its headquarters in Ranshofen. The company produces aluminium, which is used primarily in the automotive industry, mechanical engineering and the construction sector. The figures are therefore also important for suppliers and employees in the region.
With the results now published, AMAG has significantly improved its economic situation after three quarters. Further details on the reasons for the development and on the outlook for the full year were not included in the available information.
Sources: medianet.at
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