AMG Advanced Metallurgical Group N.V. Announces 2018 Final Dividend

mei 14, 2019

Amsterdam, 14 May 2019 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce during the Annual General Meeting, held on May 1, 2019, AMG’s shareholders approved the payment of a dividend of €0.50 per ordinary share over the financial year 2018. The interim dividend of €0.20, paid on August 16, 2018, was deducted from the amount distributed to shareholders. The final dividend per ordinary share therefore amounts to €0.30.

Payment of the final dividend was completed on May 13, 2019, to shareholders of record on May 6, 2019. The ex-dividend date was May 3, 2019. Dutch withholding tax was deducted from the dividend at a rate of 15%.

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).

About AMG

AMG is a global critical materials company at the forefront of CO₂ reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.

AMG Critical Materials produces aluminum master alloys and powders, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal.  AMG Technologies produces titanium aluminides and titanium alloys for the aerospace market; designs, engineers, and produces advanced vacuum furnace systems; and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.

With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).

For further information, please contact:
AMG Advanced Metallurgical Group N.V.         +1 610 975 4979
Michele Fischer
mfischer@amg-nv.com

Disclaimer

Certain statements in this press release are not historical facts and are “forward looking.”  Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information.  When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements.  By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved.  These forward-looking statements speak only as of the date of this press release.  AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.

AMG Advanced Metallurgical Group N.V. Announces Results of the Annual General Meeting

mei 1, 2019

Amsterdam, 1 May 2019 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that during its Annual General Meeting held in Amsterdam on May 1, 2019, shareholders approved all agenda items presented, including the re-appointment of Professor Steve Hanke as independent member of the Supervisory Board for a term of four years beginning May 1, 2019. Professor Hanke will replace Mr. Jack Messman as Chairman of the Supervisory Board. Mr. Messman retired as Chairman, after serving on AMG’s Supervisory Board since June 2007.

In addition, Ms. Dagmar Bottenbruch was appointed as an independent member of the Supervisory Board for a term of four years beginning May 1, 2019.

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).

About AMG

AMG is a global critical materials company at the forefront of CO₂ reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.

AMG Critical Materials produces aluminum master alloys and powders, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal.  AMG Technologies produces titanium aluminides and titanium alloys for the aerospace market; designs, engineers, and produces advanced vacuum furnace systems; and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.

With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).

For further information, please contact:
AMG Advanced Metallurgical Group N.V.         +1 610 975 4979
Michele Fischer
mfischer@amg-nv.com

Disclaimer

Certain statements in this press release are not historical facts and are “forward looking.”  Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information.  When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements.  By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved.  These forward-looking statements speak only as of the date of this press release.  AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.

AMG Advanced Metallurgical Group N.V. Presents Update on Long-term Financial Goals

mei 1, 2019

Amsterdam, 1 May 2019 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that during its Annual Meeting held in Amsterdam on May 1, 2019, Dr. Heinz Schimmelbusch, CEO and Chairman of the Management Board, presented a comprehensive update on the Company’s strategic growth projects, including guidance on AMG’s long-term financial goals.

Based on the growth opportunities that exist throughout AMG’s portfolio, including AMG Vanadium’s spent catalyst recycling expansion in Cambridge, Ohio, AMG Mineração’s Lithium project in Brazil and the creation of AMG’s new segment, AMG Technologies, AMG expects to deliver an EBITDA level of $350 million, or more, in 5 years, or less.

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).

About AMG

AMG is a global critical materials company at the forefront of CO₂ reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.

AMG Critical Materials produces aluminum master alloys and powders, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal.  AMG Technologies produces titanium aluminides and titanium alloys for the aerospace market; designs, engineers, and produces advanced vacuum furnace systems; and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.

With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).

For further information, please contact:
AMG Advanced Metallurgical Group N.V.         +1 610 975 4979
Michele Fischer
mfischer@amg-nv.com

Disclaimer

Certain statements in this press release are not historical facts and are “forward looking.”  Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information.  When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements.  By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved.  These forward-looking statements speak only as of the date of this press release.  AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.

AMG Advanced Metallurgical Group N.V. Reports First Quarter 2019 Results

mei 1, 2019

Key Highlights

• Revenue increased by 12% to $346.5 million in the first quarter 2019 from $308.4 million in the first quarter 2018
• EBITDA⁽²⁾ was $50.4 million in the first quarter 2019, a 13% increase over the same period in 2018
• Annualized return on capital employed continued at a high level of 28.3% in the first quarter 2019, as compared to 28.4% in the first quarter 2018
• AMG ended the first quarter of 2019 with net debt of $14.6 million, an increase of $15.0 million versus prior year-end 2018

Amsterdam, 1 May 2019 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) reported first quarter 2019 revenue of $346.5 million, a 12% increase from $308.4 million in the first quarter 2018. EBITDA for the first quarter 2019 was $50.4 million, a 13% increase from $44.5 million in the first quarter 2018. EBIT increased 11% to $40.4 million in the first quarter 2019 from $36.3 million in the first quarter 2018.

Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, “AMG achieved a 13% increase in EBITDA during the quarter compared to prior year, mainly driven by AMG Technologies due to increased profitability associated with our turbine blade coating furnaces and higher after-market sales compared to the first quarter of last year.”

“AMG Critical Materials generated EBITDA of $31.2 million during the first quarter of 2019, a slight increase of 1% from $30.8 million in the first quarter of 2018, due to strong financial performance in vanadium, chrome and antimony, which was partially offset by lower gross profit in tantalum, graphite, silicon and additional ramp-up costs associated with lithium in Brazil.”

“AMG Technologies achieved EBITDA of $19.3 million during the first quarter of 2019, a 40% increase from $13.7 million in the first quarter 2018. Order backlog was $224.1 million as of March 31, 2019.”

“In addition, despite ongoing working capital investments and capital expenditures related to the expansion projects, AMG maintained a low level of net debt due to strong profitability in the quarter. AMG continued to generate a high return on capital employed of 28.3% in the first quarter 2019.”

Key Figures

Note: 

1. EBIT is defined as earnings before interest and income taxes. EBIT excludes restructuring, asset impairment and equity-settled share-based payments and includes foreign currency gains or losses.
2. EBITDA is defined as EBIT adjusted for depreciation and amortization.
3. The Company applied IFRS 16 (lease accounting) for the first time as of January 1, 2019. The Company recognized new assets and liabilities for its operating leases which are primarily comprised of buildings, equipment, machinery and automobiles. Right of use assets are included within property, plant and equipment and classified in the same manner as if the underlying assets were owned by the Company. The lease liabilities are presented as a separate line item on the consolidated statement of financial position. The nature and pattern of expense recognition in relation to these leases has changed. The Company recognizes depreciation on the right of use assets on a straight-line basis over the expected term of the lease. Interest expense related to the lease liabilities are recognized over the expected term of the lease using the effective interest method. Comparative figures have not been adjusted. Assets and liabilities increased per January 1, 2019 by $37 million and depreciation and interest expenses increased in the first quarter by $1 million.

Operational Review

AMG Critical Materials

AMG Critical Materials’ revenue in the first quarter increased by $20.1 million, or 10%, to $228.6 million, driven by improved average vanadium and chrome prices during the quarter, and higher sales volumes of lithium concentrate and antimony products.

Gross profit in the first quarter decreased by $6.4 million, or 14%, to $37.6 million. The reduction in gross profit was driven by a non-cash expense related to a vanadium inventory adjustment, additional ramp-up costs associated with lithium in Brazil, lower sales volumes in graphite’s heat insulation business and a decrease in silicon metal prices. This reduction was partially offset by higher chrome metal prices and improved antimony sales volumes.

SG&A expenses in the first quarter of 2019 increased by $1.7 million, or 9%, compared to the same period in the prior year, primarily due to higher professional fees.

First quarter 2019 EBITDA margin was 14%, relatively consistent with prior year.

AMG Technologies

Despite a 7% decrease versus December 31, 2018, order backlog maintained its historically high level of $224.1 million as of March 31, 2019 and the Company signed $56.2 million in new orders during the first quarter of 2019. This represents a 0.82x book to bill ratio, driven by strong orders of heat treatment furnaces for the automotive market and induction and remelting furnaces for the aerospace market.

AMG Technologies’ first quarter 2019 revenue increased $18.0 million, or 18%, to $117.9 million, due to higher titanium master alloy prices and higher revenue generated by the delivery of turbine blade coating, casting and nuclear waste recycling furnaces.

First quarter 2019 gross profit increased by $3.4 million, or 13%, to $29.5 million and gross margin was relatively consistent at 25% compared to 26% in the first quarter 2018.

SG&A expenses remained consistent at $15.9 million in the first quarter, compared to the same period in 2018.

AMG Technologies’ first quarter EBITDA increased by 40%, or $5.6 million, to $19.3 million from $13.7 million in the first quarter of 2018, largely due to higher levels of gross profit.

Financial Review

Tax

AMG recorded an income tax expense of $5.9 million in the first quarter 2019 as compared to a tax expense of $9.7 million in the same period in 2018. The decrease in tax expense is due to lower profitability and a benefit from the impact of the Brazilian real on the company’s deferred tax positions.

Due to the volatile nature of the company’s deferred tax balances, AMG believes that the cash tax rate is a more meaningful metric. AMG paid taxes of $3.9 million in the first quarter 2019 as compared to tax payments of $2.2 million in the same period in 2018. For the first quarter 2019, AMG’s effective cash tax rate increased to 19% in comparison to 8% for the same period in 2018. The prior year rate benefited from net operating loss carryforwards in the United States which were fully utilized in 2018.

Exceptional Items

AMG’s first quarter 2019 gross profit of $67.1 million includes exceptional items, which are not included in the calculation of EBITDA.

A summary of exceptional items included in gross profit in the first quarter of 2019 and 2018 are below:

Exceptional items included in gross profit

AMG had a $9.9 million exceptional non-cash expense related to a net realizable value adjustment to the vanadium inventory cost position on March 31, 2019. This adjustment was driven by a combination of the high vanadium prices at which the Company purchased its inventory in the second half of 2018 and the lower comparable price on March 31, 2019. The vanadium price nearly doubled from September to November of 2018, and then returned to the September levels at the end of March 2019. This exceptional price movement impacted our inventory cost position and resulted in a balance sheet adjustment which has been adjusted in EBITDA.

Liquidity

AMG had a net debt position of $14.6 million as of March 31, 2019. Net debt increased by $15.0 million and total debt decreased by $0.6 million from December 31, 2018.

Cash from operating activities decreased by $17.9 million to $6.9 million in the first quarter of 2019, primarily due to higher working capital investment at AMG Critical Materials, as well as higher interest and tax payments.

Capital expenditures decreased to $12.8 million in the first quarter of 2019 compared to $22.6 million in the same period in 2018. Capital spending in the first quarter 2019 included $5.9 million of maintenance capital. The remaining $6.9 million of capital spending is primarily attributable to expansion projects at AMG’s lithium, vanadium and heat treatment facilities.

Including the $366.3 million of cash, AMG had $535.9 million of total liquidity as of March 31, 2019.

Net Finance Costs

AMG’s first quarter 2019 net finance costs increased to $9.2 million compared to $6.5 million in the first quarter 2018. Interest expenses associated with AMG’s long-term credit facility increased due to higher levels of gross debt and higher interest rates associated with the long-term nature of the facility.

SG&A

AMG’s first quarter 2019 SG&A expenses were $37.4 million compared to $35.6 million in the first quarter of 2018, primarily due to higher professional fees.

Outlook

AMG’s lithium concentrate plant startup is proceeding well: We have reached a 90 ton per hour feed rate (95% of target); a metallurgical recovery rate of 90% of target; we are producing in-spec material; and, most importantly, latest estimates essentially confirm our target cost per ton. Our EPC contractor expects to achieve 100% of the target capacity by the end of May.

Though our Critical Materials business continues to experience strong demand for its products, it is experiencing very high price volatility, with spot prices for vanadium, chrome, silicon, tantalum and spodumene down significantly versus year-end 2018. To illustrate the unexpected dramatic fall in vanadium prices in recent weeks: the decline from year-end 2018 to the end of Q1 is 41%; and the additional decline to today is 23%. In light of this and similar weaknesses in other materials we have adjusted our EBITDA target to be $150 million.

AMG’s confidence in the longer-term trends within its business units remains strong. As such, we are targeting $200 million of EBITDA in 2020.

AMG’s five-year target EBITDA will be detailed at the Annual General Meeting today at 13:00 CEST.

Net Income to EBITDA reconciliation

*Excludes foreign exchange expense (income)

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).

About AMG

AMG is a global critical materials company at the forefront of CO₂ reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.

AMG Critical Materials produces aluminum master alloys and powders, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal.  AMG Technologies produces titanium aluminides and titanium alloys for the aerospace market; designs, engineers, and produces advanced vacuum furnace systems; and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.

With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).

For further information, please contact:
AMG Advanced Metallurgical Group N.V.         +1 610 975 4979
Michele Fischer
mfischer@amg-nv.com

Disclaimer

Certain statements in this press release are not historical facts and are “forward looking.”  Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information.  When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements.  By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved.  These forward-looking statements speak only as of the date of this press release.  AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.

AMG Advanced Metallurgical Group N.V. to Launch Share Buyback Program

apr 8, 2019

   
Amsterdam, 8 April 2019 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce the start of its share buyback program.

AMG intends to execute a buyback program for up to 3.0 million shares (or up to €100 million) for the purposes of returning cash to shareholders and funding future share-based employee compensation programs. The program will remain open until October 9, 2019 at the latest and will be implemented by ABN AMRO Bank N.V. as purchase agent through purchases during open and closed periods.

The program will be carried out in accordance with the conditions of the authorization granted by the General Meeting of Shareholders of AMG on May 2, 2018 for the next 18 months. AMG’s strategic investment program will not be affected by this buyback program.

AMG will publish a weekly press release stating the progress of the program.

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).

About AMG

AMG is a global critical materials company at the forefront of CO₂ reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.

AMG Critical Materials produces aluminum master alloys and powders, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal.  AMG Technologies produces titanium aluminides and titanium alloys for the aerospace market; designs, engineers, and produces advanced vacuum furnace systems; and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.

With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).

For further information, please contact:
AMG Advanced Metallurgical Group N.V.         +1 610 975 4979
Michele Fischer
mfischer@amg-nv.com

Disclaimer

Certain statements in this press release are not historical facts and are “forward looking.”  Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information.  When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements.  By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved.  These forward-looking statements speak only as of the date of this press release.  AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.

AMG Advanced Metallurgical Group N.V. Reports Record Full Year and Fourth Quarter 2018 Results

feb 28, 2019

Key Highlights

• Revenue increased by 23% to $344.4 million in the fourth quarter of 2018 from $280.7 million in the fourth quarter of 2017
• EBITDA⁽²⁾ was $62.8 million in the fourth quarter of 2018, a 90% increase over the same period in 2017
• Full year 2018 EBITDA was the highest in AMG’s history, increasing by 73% to $217.1 million, from $125.5 million in the prior year
• EPS, on a fully diluted basis, increased by 104% to $0.92 in the fourth quarter of 2018 from $0.45 in the fourth quarter of 2017
• Full year 2018 EPS, the highest in AMG’s history, increased by 65% to $2.97 per fully diluted share from $1.80 per share in 2017
• Return on capital employed increased to 35.4% in 2018, as compared to 21.2% in 2017
• Operating cash flow was $97.4 million in 2018, a 24% increase over 2017, enabling AMG to end the year in a net cash position

• Total 2018 dividend proposed of €0.50 per ordinary share, including the interim dividend of €0.20, paid on August 14, 2018, an increase of 79% over the prior year’s total dividend of €0.28

Amsterdam, 28 February 2019 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) reported fourth quarter 2018 revenue of $344.4 million, a 23% increase from $280.7 million in the fourth quarter of 2017. EBITDA for the fourth quarter of 2018 was $62.8 million, a 90% increase from $33.0 million in the fourth quarter of 2017. On a full year basis, EBITDA increased by 73% to $217.1 million, from $125.5 million in the prior year.

Net income attributable to shareholders increased to $29.0 million in the fourth quarter of 2018 from $14.3 million in the fourth quarter of 2017. EPS, on a fully diluted basis, increased by 104% to $0.92 in the fourth quarter of 2018 from $0.45 in the fourth quarter of 2017. On a full year basis, net income attributable to shareholders increased by 66% to $94.6 million in 2018 from $57.0 million in 2017. EPS, on a fully diluted basis, increased by 65% to $2.97 in 2018 from $1.80 in 2017.

Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, “Very strong financial results in the fourth quarter of 2018 resulted in the highest EBITDA and earnings per share in the Company’s history.

“AMG Critical Materials generated EBITDA of $55.7 million during the fourth quarter of 2018, an increase of 107% from $26.9 million in the fourth quarter of 2017, due to a combination of higher vanadium prices, as well as improved product mix and strong sales volumes across much of the Critical Materials portfolio.

“AMG Engineering signed $315.9 million in new orders during 2018, representing a 1.22x book to bill ratio. Order backlog was $241.4 million as of December 31, 2018, a 17% increase from $207.0 million as of December 31, 2017. AMG Engineering achieved EBITDA of $7.1 million during the fourth quarter of 2018, an increase of $1.0 million compared to the fourth quarter of 2017, driven by higher profitability generated from the delivery of casting furnaces and increased after-sales services during the quarter.

“In the fourth quarter of 2018, AMG generated cash from operating activities of $50.7 million, an increase of $17.4 million, or 52%, over the same period in 2017. On a full year basis, AMG generated cash from operating activities of $97.4 million in 2018, an increase of $18.9 million, or 24%, compared to the same period in 2017.”

Key Figures

Notes: 

1. EBIT is defined as earnings before interest and income taxes. EBIT excludes restructuring and equity-settled share-based payments and includes foreign currency gains or losses.
2. EBITDA is defined as EBIT adjusted for depreciation and amortization.

Operational Review

AMG Critical Materials

AMG Critical Materials’ revenue in the fourth quarter increased by $59.0 million, or 28%, to $272.9 million, driven by substantially improved vanadium prices, as well as price increases for aluminum products, chrome metal, and titanium products, and higher sales volumes of aluminum products.

Gross profit before non-recurring items in the fourth quarter increased by $26.5 million, or 66%, to $66.6 million. Strong financial performances in vanadium, chrome metal, titanium alloys and graphite in the quarter were partially offset by lower gross profit in silicon metal and in Brazil. Profitability in our tantalum and lithium mine in Brazil was adversely affected by lithium start-up costs and lower prices. Titanium alloys benefited from the early termination of a customer contract.

SG&A expenses in the fourth quarter of 2018 decreased by $2.0 million, or 9%, compared to the same period in the prior year, due to lower personnel costs and professional fees.

EBITDA increased by $28.8 million, or 107%, to $55.7 million in the fourth quarter of 2018 due to higher levels of gross profit.

AMG Engineering

AMG Engineering signed $67.8 million in new orders during the fourth quarter of 2018, representing a 0.95x book to bill ratio, due to strong orders of turbine blade coating and heat treatment furnaces. Order backlog was $241.4 million as of December 31, 2018, a 17% increase from $207.0 million as of December 31, 2017. On a full year basis, AMG Engineering signed $315.9 million in new orders, representing a 1.22x book to bill ratio.

AMG Engineering’s fourth quarter 2018 revenue increased by $4.8 million, or 7%, to $71.5 million, due to higher sales of turbine blade coating and vacuum induction furnaces and an increase in after-sales service revenues, partially offset by lower sales of remelting and heat treatment furnaces.

Fourth quarter 2018 gross profit before non-recurring items increased by $2.9 million, or 17%, to $20.4 million, and gross margin before non-recurring items improved to 29% from 26% in the fourth quarter of 2017, due to product mix effects.

SG&A expenses increased by $2.2 million, or 17%, in the fourth quarter of 2018 compared to the fourth quarter of 2017, due to higher employee related expenses partly associated with increased hiring to grow our after-sales business.

EBITDA increased by $1.0 million to $7.1 million in the fourth quarter of 2018, due to higher levels of gross profit before non-recurring items, partially offset by higher SG&A expenses. On a full year basis, EBITDA in 2018 rose by 6% from $25.5 million in 2017 to $27.0 million.

Financial Review

Tax

AMG recorded an income tax expense of $45.0 million in 2018 as compared to $13.9 million in 2017. The increase in income tax expense was driven by the full recognition of AMG’s US operating loss carryforwards in the prior year and higher levels of profitability in 2018.

Due to the volatile nature of the company’s Brazilian deferred tax balances, AMG believes that the cash tax rate is a more meaningful metric. In the fourth quarter of 2018, AMG benefited from operating loss carryforwards that offset taxes payable.  As a result of high pre-tax profitability, AMG paid taxes of $21.3 million in 2018 as compared to $10.3 million in 2017. For 2018, AMG’s effective cash tax rate was 15%, as compared to 14% in 2017.

Non-Recurring Items

AMG’s fourth quarter 2018 and full year 2018 gross profit include non-recurring items, which are not included in the calculation of EBITDA.

A summary of non-recurring items in 2018 and 2017 are below:

Non-recurring items included in gross profit

Gross profit before non-recurring items by reporting segment

Non-recurring environmental expense

During the fourth quarter of 2018, AMG recorded non-recurring environmental expense of $8.7 million, the majority of which was related to its Newfield, New Jersey site, which is not included in the calculation of EBITDA.

Liquidity

AMG had a net cash position of $0.5 million as of December 31, 2018. Net debt decreased by $10.8 million from December 31, 2017, while gross debt increased by $192.3 million.

Cash from operating activities increased to $97.4 million in 2018 from $78.5 million in 2017.

Capital expenditures decreased to $73.0 million in 2018 compared to $80.9 million in 2017. Capital spending in 2018 included $27.9 million of maintenance capital, compared to $32.0 million in 2017. The largest expansion capital project in 2018 was AMG’s lithium project in Brazil.

Including the $381.9 million of cash, AMG had $551.5 million of total liquidity as of December 31, 2018.

Net Finance Costs

AMG’s fourth quarter 2018 net finance costs were $6.9 million compared to $2.3 million in the fourth quarter of 2017. The increase was primarily due to higher interest rates and higher outstanding gross debt associated with AMG’s new, long-term credit facility.

SG&A

AMG’s fourth quarter 2018 SG&A expenses were $35.1 million, a slight increase of 1% from the same period in the prior year.

Full year 2018 SG&A expenses were $143.6 million, a 9% increase from $132.3 million in 2017, primarily due to an increase in personnel costs.

Final Dividend Proposed

AMG intends to declare a dividend of €0.50 per ordinary share over the financial year 2018. The interim dividend of €0.20, paid on August 14, 2018, will be deducted from the amount to be distributed to shareholders. The proposed final dividend per ordinary share therefore amounts to €0.30.

A proposal to resolve upon the final dividend distribution will be included on the agenda for the Annual General Meeting to be held on May 1, 2019.

Outlook

As regards outlook, our last long-term guidance at the AGM in May 2018 was that we would reach $200 million of EBITDA, or more, by 2020 or earlier.  Obviously, we reached our target earlier – and with record numbers all around. For 2019, our target is to exceed the $200 million mark again.

The updated long-term guidance will be published at the AGM on May 1, 2019.

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).

About AMG

AMG is a global critical materials company at the forefront of CO₂ reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.

Critical Materials produces aluminum master alloys and powders, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal.  AMG Technologies produces titanium aluminides and titanium alloys for the aerospace market; designs, engineers, and produces advanced vacuum furnace systems; and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.

With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).

For further information, please contact:
AMG Advanced Metallurgical Group N.V.         +1 610 293 5814
Grace Stubel
gstubel@amg-nv.com

Disclaimer

Certain statements in this press release are not historical facts and are “forward looking.”  Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information.  When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements.  By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved.  These forward-looking statements speak only as of the date of this press release.  AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.

AMG Advanced Metallurgical Group N.V. Announces Changes to the Composition of its Supervisory Board

feb 28, 2019

Amsterdam, 28 February 2019 (Regulated Information) — The Supervisory Board of AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) resolved during its meeting on 27 February 2019 to propose to the General Meeting of Shareholders to make the following changes to its composition.

At the Annual General Meeting (“AGM”) in May 2019, Mr. Jack Messman will have served twelve years on the Supervisory Board of AMG when his current term ends. Mr. Messman has indicated that he wishes to retire from the Supervisory Board in May 2019, given other priorities and the term limits for Supervisory Directors under the Dutch Corporate Governance Code. The Supervisory Board is deeply grateful for the long service and dedication to AMG by Mr. Messman.

Before becoming Chairman in 2018, Mr. Messman was Vice Chairman since 2007 and a long-serving member and Chair of AMG’s Remuneration Committee and before that of the Audit & Risk Management Committee, and has been a major contributor to the excellent quality of AMG’s current leadership team by implementing and overseeing AMG’s competitive executive compensation system.

Professor Steve Hanke will have served six years on the Supervisory Board in May 2019 when his current term ends. AMG is very pleased to announce that Professor Hanke, currently Chair of the Audit & Risk Management Committee,  will make himself available for re-appointment for a term of four years. The Supervisory Board will nominate Professor Hanke for re-appointment by the General Meeting Shareholders on May 1 of this year as independent member of the Supervisory Board for a term of four years.

Given the retirement of Mr. Messman as member and Chairman of the Supervisory Board after the Annual Meeting in May 2019, AMG is pleased to announce that the Supervisory Board plans to appoint Professor Steve Hanke as Chairman of the Supervisory Board as of May 1, 2019 after the Annual Meeting.

Given the vacancy created by the retirement of Mr. Messman, the Supervisory Board is pleased to announce that it will nominate Ms. Dagmar Bottenbruch as an independent Supervisory Board member for appointment by the General Meeting of Shareholders on May 1, 2019. Ms. Bottenbruch has German and US citizenship and brings highly relevant experience in the field of financial services as well as public and private equity and venture capital investments. She was Managing Director of Rabobank International in Germany and has worked at Credit Suisse in London and Frankfurt as Director Investment Banking. She currently serves on the Supervisory Board of CFA Society Germany and of Vaamo Finanz AG, Frankfurt. The full curriculum vitae of the nominee is available for inspection at the offices of the Company and will be published on the Company’s website.

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).

About AMG

AMG is a global critical materials company at the forefront of CO₂ reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.

Critical Materials produces aluminum master alloys and powders, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal.  AMG Technologies produces titanium aluminides and titanium alloys for the aerospace market; designs, engineers, and produces advanced vacuum furnace systems; and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.

With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).

For further information, please contact:
AMG Advanced Metallurgical Group N.V.         +1 610 293 5814
Grace Stubel
gstubel@amg-nv.com

Disclaimer

Certain statements in this press release are not historical facts and are “forward looking.”  Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information.  When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements.  By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved.  These forward-looking statements speak only as of the date of this press release.  AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.

AMG Advanced Metallurgical Group N.V. Announces the Formation of the Management Board of AMG Technologies

dec 31, 2018

Amsterdam, 31 December 2018 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that Guido Löber has been named Chairman of the Management Board of AMG Technologies.  This position will be in addition to his current responsibilities as President of AMG Titanium Alloys.  He will be joined on the Management Board by Markus Holz, who will continue to act as the President of AMG Engineering, as well as by Steve Daniels, who will act as the CFO of AMG Technologies.

As previously announced, AMG’s new operating division, AMG Technologies, will be a reportable segment replacing AMG Engineering.

Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, “Beginning with the AMG IPO in 2007, we stressed the importance of combining engineering and operations know-how in order to accelerate innovations in advanced metallurgy. In a major step early on we offered novel vacuum heat treatment technologies not only as a supplier of furnaces but also as a heat treatment service to our automotive customers.  Subsequent to that development, AMG Titanium Alloys achieved a major break-through in new aerospace engine materials based on the combination of vacuum furnace engineering and operations know-how, commercializing titanium aluminide as well as titanium aluminide powder for additive manufacturing.  This project and others have increased the cooperation between Hanau and Nuremberg, the corporate centers of AMG Engineering and AMG Titanium Alloys, respectively.  We predict that the combination of these two entities under one management team will deliver substantial value for our customers and for all AMG stakeholders.”

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).

About AMG

AMG is a global critical materials company at the forefront of CO₂ reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.

AMG Critical Materials produces aluminum master alloys and powders, titanium alloys and coatings, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal. AMG Engineering designs, engineers, and produces advanced vacuum furnace systems and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.

With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).

For further information, please contact:
AMG Advanced Metallurgical Group N.V.         +1 610 293 5814
Grace Stubel
gstubel@amg-nv.com

Disclaimer
Certain statements in this press release are not historical facts and are “forward looking”.  Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information.  When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements.  By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved.  These forward looking statements speak only as of the date of this press release.  AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.

AMG Advanced Metallurgical Group N.V. Announces the Formation of the Management Board of AMG Technologies

dec 31, 2018

Amsterdam, 31 December 2018 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that Guido Löber has been named Chairman of the Management Board of AMG Technologies.  This position will be in addition to his current responsibilities as President of AMG Titanium Alloys.  He will be joined on the Management Board by Markus Holz, who will continue to act as the President of AMG Engineering, as well as by Steve Daniels, who will act as the CFO of AMG Technologies.

As previously announced, AMG’s new operating division, AMG Technologies, will be a reportable segment replacing AMG Engineering.

Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, “Beginning with the AMG IPO in 2007, we stressed the importance of combining engineering and operations know-how in order to accelerate innovations in advanced metallurgy. In a major step early on we offered novel vacuum heat treatment technologies not only as a supplier of furnaces but also as a heat treatment service to our automotive customers.  Subsequent to that development, AMG Titanium Alloys achieved a major break-through in new aerospace engine materials based on the combination of vacuum furnace engineering and operations know-how, commercializing titanium aluminide as well as titanium aluminide powder for additive manufacturing.  This project and others have increased the cooperation between Hanau and Nuremberg, the corporate centers of AMG Engineering and AMG Titanium Alloys, respectively.  We predict that the combination of these two entities under one management team will deliver substantial value for our customers and for all AMG stakeholders.”

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).

About AMG

AMG is a global critical materials company at the forefront of CO₂ reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.

AMG Critical Materials produces aluminum master alloys and powders, titanium alloys and coatings, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal. AMG Engineering designs, engineers, and produces advanced vacuum furnace systems and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.

With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).

For further information, please contact:
AMG Advanced Metallurgical Group N.V.         +1 610 293 5814
Grace Stubel
gstubel@amg-nv.com

Disclaimer
Certain statements in this press release are not historical facts and are “forward looking”.  Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information.  When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements.  By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved.  These forward looking statements speak only as of the date of this press release.  AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.

AMG Advanced Metallurgical Group N.V. Announces Strategic Segmental Realignment

nov 28, 2018

Amsterdam, 28 November 2018 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that effective 1 January 2019, the Company will change its organizational structure. This change will result in two new strategic operating divisions, AMG Technologies and AMG Critical Materials.

AMG’s new operating division, AMG Technologies, will be comprised of AMG’s existing Engineering and Titanium Alloys businesses and will be a reportable segment replacing AMG Engineering. AMG Critical Materials will consist of seven operating units, namely Vanadium, Superalloys, Tantalum & Lithium, Graphite, Silicon, Aluminum and Antimony.

Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, “AMG Technologies brings together two industry leaders primarily serving the aerospace market, by combining AMG Engineering’s expertise in metallurgical process design & development and AMG Titanium Alloys’ industry-leading expertise in the development of metallurgical products, furnace operations, and quality assurance processes. In metallurgy, combining engineering and operational knowhow accelerates innovation.”

Segment reporting will be adjusted as per 1 January 2019. AMG’s proforma segmental information for AMG Technologies and AMG Critical Materials for 2018 is shown below:

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).

About AMG

AMG is a global critical materials company at the forefront of CO₂ reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.

AMG Critical Materials produces aluminum master alloys and powders, titanium alloys and coatings, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal. AMG Engineering designs, engineers, and produces advanced vacuum furnace systems and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.

With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).

For further information, please contact:
AMG Advanced Metallurgical Group N.V.         +1 610 293 5804
Steve Daniels
Senior Vice President
sdaniels@amg-nv.com

Disclaimer
Certain statements in this press release are not historical facts and are “forward looking”.  Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information.  When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements.  By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved.  These forward looking statements speak only as of the date of this press release.  AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.