AMG Advanced Metallurgical Group N.V. Announces Half Year Results

Amsterdam, August 13, 2007 – AMG Advanced Metallurgical Group N.V. (EURONEXT AMSTERDAM: AMG) announced its financial results for the half year ended June 30, 2007.

 

 

 

Revenue increased 18% in the first half of this year from the comparable 2006 period

 

Net income grew to $19.2 million for the six months ended June 30, 2007

 

AMG’s EBITDA grew by 45% from the first half of 2006 compared to the first half of 2007

 

The Company’s successful IPO provided $275 million in net proceeds  

 

AMG’s high yield debt will be repaid on August 15, 2007

 

 

 

Revenues for the six months ended June 30, 2007 were $543.9 million compared to $460.9 million for the comparable period in 2006, an increase of 18%.  Revenues in the Advanced Materials division for the first six months of 2007 were $415.4 million, an increase of 10% over the comparable 2006 period.  Revenues in the Engineering Services division rose to $128.4 million, an increase of 57% over the first six months of 2006.

 

Net income for the half-year amounted to $19.2 million, or $1.11 per share, compared to a loss of $15 thousand in 2006.  By segments, this reflected a profit of $3.2 million in the Advanced Materials division and $16.0 million in the Engineering Services division.

 

 

For the period ending June 30, 2007, EBITDA for AMG was $56.8 million compared to $39.3 million in the first six months of 2006.  This represents an increase of 45% from year to year.  For the first six months of 2007, EBITDA for the Advanced Materials division was $29.4 million, an increase of 30% over the comparable 2006 period.  In the Engineering Services division, EBITDA for the period ending June 30, 2007 was $27.4 million, an increase of 64% from the June 30, 2006 period.

 

A copy of AMG’s Half Year Report for 2007 is attached to this release and is also available on the Company’s website:  www.amg-nv.com.

 

As previously announced, the Company will host an earnings conference call on August 14, 2007 at 16:00 CET (15:00 GMT and 10:00 am EDT).  Information with respect to this call is as follows:

 

The conference call can be accessed by dialing 1-888-457-4228 (U.S. domestic) and +49 (0) 6958 999 0806 (international). For those unable to listen to the live broadcast, a replay will be available on our website www.amg-nv.com in the section Investor Relations approximately two hours after the event.

 

 

AMG, incorporated in the Netherlands, is a leading global specialty materials company offering highly engineered metallurgical products and advanced vacuum furnace systems to a broad range of end markets. AMG utilises its proprietary know-how to supply sophisticated metals and materials through its production and sales activities in 12 countries on five continents. In addition, AMG designs, engineers and produces advanced vacuum furnace systems for growing industries globally. AMG’s metallurgical expertise has enabled it to capture leading market positions for many of its products and systems. Most of AMG’s products and systems are critical to the production of key components for the aerospace, energy (including solar and nuclear), electronics, optics, chemicals, construction and transportation industries. AMG is organised into two business units: Advanced Materials and Engineering Systems.

 

The Advanced Materials unit develops and produces niche specialty metals and complex metals products, many of which are used in demanding, safety-critical, high-stress environments. AMG is one of a limited number of significant producers globally of niche specialty metals, such as ferrovanadium, ferronickel-molybdenum, ferrotitanium, aluminium master alloys and additives, silicon metal (including solar grade), chromium metal and magnesium alloys, used by steel, aluminium, silicones and superalloy producers for aerospace, energy, electronics, optics, chemicals, construction and transportation applications.

 

The Engineering Systems unit designs, engineers and produces advanced vacuum furnace systems and operates vacuum heat treatment facilities. AMG sells vacuum furnace systems to customers in the aerospace, energy (including solar and nuclear), transportation, electronics, superalloys and specialty steel industries.

 

AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, Canada, Mexico, Brazil and Australia and also has sales and customer service offices in Belgium, Russia, China and Japan (website: http://www.amg-nv.com).

 

 

 

Arthur Spector

Deputy Chairman of the Management Board