AMAG in the profit zone

Aviation boom eases concerns about the automotive industry

The automotive industry is currently struggling with uncertainties.(Bild: EPA)

At the beginning of the week, it was announced that aluminum processor HAI has already cut 250 jobs this year - also a consequence of the drop in demand from the automotive industry. How is AMAG coping with the stuttering of the automotive industry? The aluminum producer from Ranshofen (Upper Austria) presented its figures for the first half of the year on Thursday.

At 707.7 million euros, turnover was almost 89 million euros lower than in 2023, earnings after tax were also down, but at 33.4 million euros in the profit zone - these were the figures presented by AMAG on Thursday for the first half of 2024.

Market situation "challenging"
CEO Helmut Kaufmann refers to the "challenging market situation" and is pleased with earnings "at a satisfactory level". "Our strategic investment in electrolysis in Canada has once again proven its worth," says the AMAG boss.

The booming aviation industry, which is characterized by rising production figures for various types of aircraft, is also pleasing for the company operating from Ranshofen: "We were able to further expand our sales volumes here," says Kaufmann.

7100 tons less aluminium sold than in 2023
The automotive sector is characterized by uncertainties, confirms the manager: "Our broad customer base helps us." In the first half of 2024, AMAG sold 214,100 tons of aluminium, which was only 7100 tons less than in the same period of the previous year.