AMAG Austria Metall : Q1/2024 Presentation

1. M A G N I F I C E N T

M A T E R I A L

S T A B L E . F L E X I B L E . I N N O V AT I V E . S U S T A I N A B L E .

Presentation Q1/2024 April 24, 2024

DISCLAIMER	2

Note

• The forecasts, budgets, and forward-looking assessments and statements contained in this presentation were compiled on the basis of all information available to AMAG as of April 12, 2024. In the event that the assumptions underlying these forecasts prove to be incorrect, targets are missed or risks materialise, actual results may depart from those currently anticipated. We are not obligated to revise these forecasts in the light of new information or future events.
• This presentation was prepared and the data contained in it verified with the greatest possible care. Nevertheless, misprints, as well as rounding and transmission errors cannot be entirely ruled out. In particular, AMAG and its representatives do not assume any responsibility for the completeness and correctness of information included in this presentation. This presentation is also available in German. In cases of doubt, the German-language version takes precedence.
• This presentation does not comprise either a recommendation or a solicitation to either purchase or sell securities of AMAG.

Presentation Q1 2024

AMAG Austria Metall AG

HIGHLIGHTS	3

CHALLENGING ENVIRONMENT INFLUENCES QUARTERLY RESULT

• Quarterly performance influenced by lower aluminium price and lower shipment volumes due to partly subdued incoming orders in Q4/2023
• Revenue of EUR 335.8 million below the previous year's level due to price and volume factors (Q1/2023: EUR 404.8 million)
• EBITDA of EUR 42.4 million above Q4/2023, but lower than in previous year's quarter (Q1/2023: EUR 60.8 million)
• Net income after taxes at EUR 13.3 million (Q1/2023: EUR 26.8 million)
• Cash flow from operating activities at the previous year's level of EUR 35.6 million (Q1/2023: EUR 35.6 million)
• Outlook for 2024: From today's perspective and assuming no significant global deterioration in the economic situation, full-year EBITDA is expected to be between EUR 150 million and EUR 180 million

Presentation Q1 2024

AMAG Austria Metall AG

MARKET AND SHIPMENTS

Presentation Q1 2024

AMAG Austria Metall AG

SENTIMENT INDICATOR	5

PURCHASING MANAGERS' INDEX* IN EUROZONE BELOW GROWTH THRESHOLD

						2022											2023							2024
Region/Country	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Jan	Feb	Mar
World	53	54	53	52	52	52	51	50	50	49	49	49	49	50	50	50	50	49	49	49	49	49	49	49	50	50	51
Euro Zone	59	58	57	56	55	52	50	50	48	46	47	48	49	49	47	46	45	43	43	44	43	43	44	44	47	47	46
Austria	62	58	59	58	57	51	52	49	49	47	47	47	48	47	45	42	40	39	39	41	40	42	42	42	43	43	42
Germany	60	58	57	55	55	52	49	49	48	45	46	47	47	46	45	45	43	41	39	39	40	41	43	43	46	43	42
France	56	57	55	56	55	51	50	51	48	47	48	49	51	47	47	46	46	46	45	46	44	43	43	42	43	47	46
Italy	58	58	56	55	52	51	49	48	48	47	48	49	50	52	51	47	46	44	45	45	47	45	44	45	49	49	50
Spain	56	57	54	53	54	53	49	50	49	45	46	46	48	51	51	49	48	48	48	47	48	45	46	46	49	52	51
UK	57	58	55	56	55	53	52	47	48	46	47	45	47	49	48	48	47	47	45	43	44	45	47	46	47	48	50
USA	56	57	59	59	57	53	52	52	52	50	48	46	47	47	49	50	48	46	49	48	50	50	49	48	51	52	52
Canada	56	57	59	56	57	55	53	49	50	49	50	49	51	52	49	50	49	49	50	48	48	49	48	45	48	50	50
China	49	50	48	46	48	52	50	50	48	49	49	49	49	52	50	50	51	51	49	51	51	50	51	51	51	51	51
Japan	55	53	54	54	53	53	52	52	51	51	49	49	49	48	49	50	51	50	50	50	49	49	48	48	48	47	48

• Gloomy sentiment in Eurozone remained largely unchanged in Q1/2024; economic growth of +0.7% expected for the Eurozone in 2024**
• GDP forecasts for Germany and Austria significantly weaker at +0.2% each for 2024**

*The purchasing managers' index for the manufacturing sector is shown. Source: Bloomberg **WIFO Economic Forecast 1/2024, March 2024

Presentation Q1 2024

AMAG Austria Metall AG

AMAG GROUP SHIPMENTS	6

SHIPMENTS BELOW PREVIOUS YEAR DUE TO GLOOMY MARKET ENVIRONMENT

Shipments in tonnes

Q1/2023

Q1/2024

110,400

-5.7 %

104,200

0

25,000

50,000

75,000

100,000

Change in shipment volume compared to Q1/2023 in tonnes

Metal: +400 tonnes  Unchanged stable production at the Alouette smelter in Canada Casting: -1,900 tonnes  Shipments of recycling foundry alloys solid, but below previous year's level

Rolling: -4,700 tonnes  Subdued order intake in Q4/2023, particularly for industrial applications and in the sports sector, as well as lower shipments of packaging products; Demand from the transport industry continue to develop positively

Presentation Q1 2024

AMAG Austria Metall AG

ROLLING DIVISION: SHIPMENTS BY INDUSTRY

7

PRODUCT MIX WITH UNCHANGED HIGH DIVERSIFICATION

Packaging

-4%-pt

Automotive (OEM)

15%

Sports/Architecture/

-1%-pt

Electronics/Other

6%

-0%-pt

Speciality products for

20%

numerous industries

-1%-pt

13%

Heat exchangers

Aircraft

+2%-pt.

15%

Industrial applications

+2%-pt.

Sheets and plates for

27%

+2%-pt.

a variety of different

5%

industries

Other transport

Percentages refer to shipments in the first quarter of 2024.

The percentage change in percentage points represents the difference in the product mix share compared to Q1/2023.

Presentation Q1 2024

AMAG Austria Metall AG

ROLLING DIVISION: ORDER TREND	8

ORDER BACKLOG AT A SOLID LEVEL OF OVER 60 THOUSAND TONNES

[in thousand tonnes]

› Order intake in Q1/2024 largely as planned

› Average order backlog in Q1/2024 with over 60 thousand tonnes in the AMAG target corridor

› Order development for industrial applications in Europe remains subdued; slight improvement recognisable in USA

› Ongoing destocking in the sports sector; positive trend in the transportation sector

Presentation Q1 2024

AMAG Austria Metall AG

Q1/2024 BUSINESS PERFORMANCE

Presentation Q1 2024

AMAG Austria Metall AG

ALUMINIUM PRICE TREND	10

LOWER QUARTER-ON-QUARTER, BUT NOTICEABLE INCREASE IN APRIL 2024

Aluminium price trend in USD/t

2,800

2,600		2,496 USD/t as per
	April 12, 2024
2,400

2,200

2,000

Ø Aluminium price (3-month LME) in USD/t

3,000	-193.4 USD/t (-7.9 %)
2,500	2,435
2,281	2,200	2,224	2,241
2,000
1,500
1,000
500
0

Source: London Metal Exchange (LME)

Presentation Q1 2024

AMAG Austria Metall AG