The lower aluminum price and lower sales volumes were reflected at AMAG in Ranshofen: turnover fell to 335.8 million euros in the first quarter and profit after tax fell to 13.3 million euros. Still, boss Helmut Kaufmann says: “The order situation has improved somewhat.”
“All in all, we can look back on a challenging first quarter,” says Kaufmann, CEO of AMAG. After the first three months of the year, turnover amounted to 335.8 million euros; in the comparable period of 2023 this was 404.8 million euros.
“Some sectors are, as expected, cautious”
Profit also fell: from 26.8 million euros in the first quarter of 2023 to 13.3 million euros. Kaufmann does not lose his nerve: “Some industries are, as expected, cautious. We will continue to use our broad positioning and high product diversity and respond flexibly to the market environment with our international customer structure.”
The Ranshofen-based aluminum producer blamed the significantly deteriorated economic climate in Europe for the weaker first quarter figures.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
