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AMAG Austria Metall

AMAG's Cash & Cash Equivalents rose 82.3% yoy to EUR 144 mil in 2014

By Helgi Library - April 2, 2020

AMAG Austria Metall's total assets reached EUR 1,093 mil at the end of 2014, up 17% compared to the previous year. ...

AMAG's Cash & Cash Equivalents rose 82.3% yoy to EUR 144 mil in 2014

By Helgi Library - April 2, 2020

AMAG Austria Metall's total assets reached EUR 1,093 mil at the end of 2014, up 17% compared to the previous year. ...

Profit Statement 2012 2013 2014
Sales EUR mil 820 786 823
Gross Profit EUR mil 283 129 125
EBITDA EUR mil 131 123 115
EBIT EUR mil 80.8 72.4 59.0
Financing Cost EUR mil 5.83 7.43 2.91
Pre-Tax Profit EUR mil 77.4 65.0 56.0
Net Profit EUR mil 71.3 56.0 59.2
Dividends EUR mil 21.0 21.2 ...
Balance Sheet 2012 2013 2014
Total Assets EUR mil 880 933 1,093
Non-Current Assets EUR mil 465 531 633
Current Assets EUR mil 415 402 460
Working Capital EUR mil 240 210 218
Shareholders' Equity EUR mil 544 584 624
Liabilities EUR mil 336 349 469
Total Debt EUR mil 110 129 237
Net Debt EUR mil 25.8 50.0 93.0
Ratios 2012 2013 2014
ROE % 13.1 9.93 9.80
ROCE % 10.2 7.75 7.44
Gross Margin % 34.6 16.4 15.2
EBITDA Margin % 16.0 15.6 13.9
EBIT Margin % 9.85 9.21 7.16
Net Margin % 8.70 7.12 7.20
Net Debt/EBITDA 0.196 0.407 0.811
Net Debt/Equity 0.047 0.086 0.149
Cost of Financing % 6.34 6.21 1.59
Valuation 2012 2013 2014
Market Capitalisation USD mil 1,078 1,054 1,174
Enterprise Value (EV) USD mil 1,112 1,123 1,286
Number Of Shares mil 35.3 35.3 35.3
Share Price EUR 23.2 21.7 27.5
EV/EBITDA 6.59 6.89 8.70
EV/Sales 1.06 1.08 1.21
Price/Earnings (P/E) 11.5 13.6 16.4
Price/Book Value (P/BV) 1.50 1.31 1.55
Dividend Yield % 2.57 2.77 ...

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summary Unit 2008 2009 2010 2011 2012 2013 2014 2015
income statement                
Sales EUR mil   517 728 813 820 786   ...
Gross Profit EUR mil   220 260 283 283 129   ...
EBIT EUR mil   61.4 96.0 105 80.8 72.4   ...
Net Profit EUR mil   31.2 47.2 86.0 71.3 56.0   ...
ROE %   5.70 9.31 16.3 13.1 9.93   ...
EBIT Margin %   11.9 13.2 12.9 9.85 9.21   ...
Net Margin %   6.03 6.48 10.6 8.70 7.12   ...
Employees ... 1,188 1,175 1,422 1,490 1,564   ...
balance sheet                
Total Assets EUR mil   838 829 876 880 933   ...
Non-Current Assets EUR mil   434 436 459 465 531   ...
Current Assets EUR mil   404 393 417 415 402   ...
Shareholders' Equity EUR mil   500 514 543 544 584   ...
Liabilities EUR mil   339 315 333 336 349   ...
Non-Current Liabilities EUR mil   179 159 174 229 228   ...
Current Liabilities EUR mil   160 155 159 107 121   ...
Net Debt/EBITDA   0.030 0.256 0.087 0.196 0.407   ...
Net Debt/Equity   0.006 0.070 0.024 0.047 0.086   ...
Cost of Financing % ... 10.6 14.2 7.50 6.34 6.21   ...
cash flow                
Total Cash From Operations EUR mil   119 75.4 105 117 122   ...
Total Cash From Investing EUR mil   -99.4 -43.5 -43.5 -75.9 -125   ...
Total Cash From Financing EUR mil   -47.6 -86.1 -66.4 -17.8 -0.758   ...
Net Change In Cash EUR mil   -27.7 -54.2 -5.38 23.8 -3.70   ...
valuation                
Market Capitalisation USD mil ... ... ... 720 1,078 1,054   ...
Number Of Shares mil   30.0 34.0 35.3 35.3 35.3   ...
Share Price EUR ... ... ... 15.8 23.2 21.7   ...
Earnings Per Share (EPS) EUR   1.04 1.39 2.44 2.02 1.59   ...
Book Value Per Share EUR   16.7 15.1 15.4 15.4 16.6   ...
Dividend Per Share EUR   0.493 -0.834 -1.03 0.596 0.600 ... ...
Price/Earnings (P/E) ... ... ... 6.46 11.5 13.6   ...
Price/Book Value (P/BV) ... ... ... 1.02 1.50 1.31   ...
Dividend Yield % ... ... ... -6.55 2.57 2.77 ... ...
Earnings Per Share Growth % ... -6.26 33.5 75.8 -17.1 -21.4   ...
Book Value Per Share Growth % ... -16.1 -9.21 1.74 0.282 7.42   ...
income statement Unit 2008 2009 2010 2011 2012 2013 2014 2015
income statement                
Sales EUR mil   517 728 813 820 786   ...
Cost of Goods & Services EUR mil   298 468 531 536 657   ...
Gross Profit EUR mil   220 260 283 283 129   ...
Staff Cost EUR mil   81.8 91.5 99.1 102 111   ...
Other Cost EUR mil   31.7 26.5 33.0 49.6 -104   ...
EBITDA EUR mil   106 142 150 131 123   ...
Depreciation EUR mil   44.8 45.7 45.6 50.6 50.4   ...
EBIT EUR mil   61.4 96.0 105 80.8 72.4   ...
Financing Cost EUR mil   8.40 7.52 4.47 5.83 7.43   ...
Extraordinary Cost EUR mil   0.146 -0.805 0.434 -2.48 0   ...
Pre-Tax Profit EUR mil   52.8 89.3 100 77.4 65.0   ...
Tax EUR mil   2.79 13.7 11.9 6.11 8.98   ...
Minorities EUR mil   18.8 28.5 2.12 0 0   ...
Net Profit EUR mil   31.2 47.2 86.0 71.3 56.0   ...
Dividends EUR mil   14.8 -28.4 -36.4 21.0 21.2 ... ...
growth rates                
Total Revenue Growth % ... -33.8 40.7 11.7 0.815 -4.06   ...
Operating Cost Growth % ... -21.9 4.03 11.8 15.1 -95.8    
EBITDA Growth % ... -14.8 33.4 6.21 -12.7 -6.49   ...
EBIT Growth % ... -25.5 56.5 9.24 -23.0 -10.3   ...
Pre-Tax Profit Growth % ... -41.5 69.1 12.0 -22.6 -16.0   ...
Net Profit Growth % ... -6.26 51.3 82.3 -17.1 -21.4   ...
ratios                
ROE %   5.70 9.31 16.3 13.1 9.93   ...
ROCE % ... 4.84 7.40 12.7 10.2 7.75   ...
Gross Margin %   42.5 35.7 34.7 34.6 16.4   ...
EBITDA Margin %   20.5 19.5 18.5 16.0 15.6   ...
EBIT Margin %   11.9 13.2 12.9 9.85 9.21   ...
Net Margin %   6.03 6.48 10.6 8.70 7.12   ...
Payout Ratio %   47.4 -60.1 -42.3 29.4 37.8 ... ...
Cost of Financing % ... 10.6 14.2 7.50 6.34 6.21   ...
Net Debt/EBITDA   0.030 0.256 0.087 0.196 0.407   ...
balance sheet Unit 2008 2009 2010 2011 2012 2013 2014 2015
balance sheet                
Non-Current Assets EUR mil   434 436 459 465 531   ...
Property, Plant & Equipment EUR mil   374 388 394 417 484   ...
Intangible Assets EUR mil   0.112 0.090 0.180 1.76 4.14   ...
Current Assets EUR mil   404 393 417 415 402   ...
Inventories EUR mil   164 198 218 212 201   ...
Receivables EUR mil   50.5 71.4 79.6 77.6 70.3   ...
Cash & Cash Equivalents EUR mil   56.9 9.14 60.6 84.3 79.2   ...
Total Assets EUR mil   838 829 876 880 933   ...
Shareholders' Equity EUR mil   500 514 543 544 584   ...
Of Which Minority Interest EUR mil   188 193 0 0 0   ...
Liabilities EUR mil   339 315 333 336 349   ...
Non-Current Liabilities EUR mil   179 159 174 229 228   ...
Long-Term Debt EUR mil   42.1 21.8 50.8 110 126   ...
Current Liabilities EUR mil   160 155 159 107 121   ...
Short-Term Debt EUR mil   18.0 23.5 22.9 0 3.64   ...
Trade Payables EUR mil   34.3 46.0 58.1 49.7 60.8   ...
Provisions EUR mil ... ... ... ... ... 15.7   ...
Equity And Liabilities EUR mil   838 829 876 880 933   ...
growth rates                
Total Asset Growth % ... -24.2 -1.13 5.65 0.499 6.07   ...
Shareholders' Equity Growth % ... -16.1 2.90 5.52 0.282 7.42   ...
Net Debt Growth % ... -96.1 1,030 -63.7 96.0 94.2   ...
Total Debt Growth % ... -39.2 -24.6 62.5 49.3 17.3   ...
ratios                
Total Debt EUR mil   60.2 45.4 73.7 110 129   ...
Net Debt EUR mil   3.21 36.2 13.1 25.8 50.0   ...
Working Capital EUR mil   180 224 239 240 210   ...
Capital Employed EUR mil   614 660 698 705 742   ...
Net Debt/Equity   0.006 0.070 0.024 0.047 0.086   ...
Cost of Financing % ... 10.6 14.2 7.50 6.34 6.21   ...
cash flow Unit 2008 2009 2010 2011 2012 2013 2014 2015
cash flow                
Net Profit EUR mil   31.2 47.2 86.0 71.3 56.0   ...
Depreciation EUR mil   44.8 45.7 45.6 50.6 50.4   ...
Non-Cash Items EUR mil ... 35.3 26.4 -11.8 -3.68 -13.8   ...
Change in Working Capital EUR mil ... 7.96 -43.8 -15.3 -0.790 29.6   ...
Total Cash From Operations EUR mil   119 75.4 105 117 122   ...
Capital Expenditures EUR mil   -29.3 -43.6 -44.4 -79.2 -128   ...
Other Investments EUR mil   -70.2 0.130 0.876 3.33 2.47   ...
Total Cash From Investing EUR mil   -99.4 -43.5 -43.5 -75.9 -125   ...
Dividends Paid EUR mil   -14.8 28.4 36.4 -21.0 -21.2 ... ...
Issuance Of Debt EUR mil ... -38.8 -14.8 28.4 36.4 19.1   ...
Total Cash From Financing EUR mil   -47.6 -86.1 -66.4 -17.8 -0.758   ...
Net Change In Cash EUR mil   -27.7 -54.2 -5.38 23.8 -3.70   ...
ratios                
Days Sales Outstanding days   35.7 35.8 35.7 34.5 32.6   ...
Days Sales Of Inventory days   201 155 150 144 112   ...
Days Payable Outstanding days   42.0 35.9 40.0 33.8 33.8   ...
Cash Conversion Cycle days   194 155 146 145 110   ...
Cash Earnings EUR mil   76.0 92.8 132 122 106   ...
Cash Earnings Per Share EUR   2.53 2.73 3.73 3.46 3.02   ...
Price/Cash Earnings (P/CE) ... ... ... 4.22 6.70 7.18   ...
Free Cash Flow EUR mil   19.9 31.9 61.0 41.6 -2.94   ...
Free Cash Flow Yield % ... ... ... 11.8 4.95 -0.371   ...
other data Unit 2008 2009 2010 2011 2012 2013 2014 2015
other data                
ROA %   3.21 5.66 10.1 8.12 6.18   ...
Gross Margin %   42.5 35.7 34.7 34.6 16.4   ...
Employees ... 1,188 1,175 1,422 1,490 1,564   ...
Cost Per Employee USD per month ... 7,980 8,589 8,071 7,349 7,827   ...
Cost Per Employee (Local Currency) CZK per month ... 5,737 6,492 5,805 5,724 5,896   ...
Staff Cost (As % Of Total Cost) %   17.9 14.5 14.0 13.8 15.5   ...
Effective Tax Rate %   5.29 15.3 11.9 7.89 13.8   ...
Enterprise Value (EV) USD mil ... ... ... 737 1,112 1,123   ...
EV/EBITDA ... ... ... 3.52 6.59 6.89   ...
EV/Capital Employed ... ... ... 0.815 1.20 1.10   ...
EV/Sales ... ... ... 0.652 1.06 1.08   ...
EV/EBIT ... ... ... 5.05 10.7 11.7   ...
Domestic Sales CZK mil ... 91.1 110 130 111 118   ...
Capital Expenditures (As % of Sales) %   5.66 5.99 5.46 9.66 16.2   ...
Revenues From Abroad EUR mil ... 426 618 683 709 669   ...
Revenues From Abroad (As % Of Total) % ... 82.4 84.9 84.0 86.4 85.0   ...
Total Shipment tonnes ... 298,800 338,400 340,900 344,200 351,700   ...
External Shipments tonnes ... 283,300 318,400 322,700 327,800 329,600   ...
Sales of Metal Division EUR mil ... 145 118 201 204 189   ...
Sales of Rolling Division EUR mil ... 309 441 487 498 491   ...
Sales of Casting Division EUR mil ... 63.5 110 126 112 112   ...
Other Sales EUR mil ... -0.039 60.1 -0.068 5.56 -5.06   ...
EBITDA of Metal Division EUR mil ... ... ... 73.6 42.6 50.8   ...
EBITDA of Rolling Division EUR mil ... ... ... 66.7 79.9 63.5   ...
EBITDA of Casting Division EUR mil ... ... ... 7.50 6.10 4.60   ...
EBITDA of Service EUR mil ... ... ... 1.90 5.30 3.90   ...
Employees in Metal Division ... 6.00 7.00 203 204 205   ...
Employees in Rolling Division ... 946 947 992 1,049 1,117   ...
Employees in Casting Division ... 112 112 116 120 121   ...
Employees in Service ... 124 109 ... ... 121   ...

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Apr 2014
Statistical Dossier

AMAG Austria Metall AG is an Austria-based manufacturer of semi-finished aluminum and aluminum products. AMAG's product portfolio ranges from primary aluminum through cast products to flat rolled products. The Group operates two production sites: the production of primary aluminum is performed through Aluminerie Alouette Inc (Alouette), located in Canada, and the production of cast and flat rolled products is performed in Austria. AMAG was privatised in 1996 in the form of a Management-Buyout. Since 2011,the Company has been listed on the Vienna Stock Exchange.

Finance

AMAG Austria Metall has been growing its sales by a year on average in the last 5 years. EBITDA has grown by 0% during that time to total of in 2015, or of sales. That’s compared to 16.0% average margin seen in last five years.

The company netted in 2015 implying ROE of and ROCE of . Again, the average figures were 12.3% and 9.51%, respectively when looking at the previous 5 years.

AMAG Austria Metall’s net debt amounted to at the end of 2015, or of equity. When compared to EBITDA, net debt was x, down when compared to average of 0.375x seen in the last 5 years.

Valuation

AMAG Austria Metall stock traded at per share at the end of 2015 resulting in a market capitalization of . Over the previous five years, stock price grew by 0% or % a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of x and price to earnings (PE) of x as of 2015.