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AMAG supplies both the electric vehicle industry and manufacturers of classic combustion engines - "we are well positioned in this respect," says CEO Helmut Kaufmann.

(Bild: Krone KREATIV/AFP, AMAG)

Crisis reports are flooding in about the VW Group every day, suppliers are trembling for their orders - but one company from Upper Austria seems quite unimpressed. Although AMAG is also feeling the effects of the weak industrial economy, including increasing price and volume pressure, the aluminum producer delivered good figures after three quarters.

At 1.078 billion euros, turnover was slightly lower than in the same period of the previous year, while earnings after taxes of 54.3 million euros were also lower than in 2023, but still top - AMAG presented these figures for the first three quarters of the current financial year on Wednesday.

"In an unchanged subdued economic situation in many European countries, we have so far succeeded in generating solid results," says CEO Helmut Kaufmann. The aluminum producer from Ranshofen (Upper Austria) supplies the aircraft, automotive, sporting goods and lighting industries, but also has customers in the mechanical engineering, construction and packaging sectors. It is precisely this broad positioning that is now helpful: "We are also broadly positioned geographically," emphasizes Kaufmann.

If we want to continue to operate successfully in Austria and be a reliable employer, we need to take urgent action now - particularly in terms of energy and wage costs as well as infrastructure. Our focus for the coming year therefore remains clearly on increasing efficiency, while we are eagerly awaiting structural improvements in Austria.

Helmut Kaufmann, Vorstandschef AMAG

Decline in Europe, more deliveries to the USA and Asia
What has worked well so far? "Thanks to a production site that is able to supply the whole world, we have been able to further strengthen our market presence," says the AMAG CEO. How are the difficulties in the automotive industry making themselves felt? "The challenges are certainly affecting us, but as we supply both the electric vehicle industry and the manufacturers of classic combustion engines, we are well positioned in this respect." The general decline in Europe has been cushioned by deliveries to the USA and Asia.

The Ranshofen site is coming under pressure due to high energy and wage costs. "Locational disadvantages are becoming increasingly noticeable, which are leading to competitive disadvantages even within Europe," reveals Kaufmann. The systems at the plant in the Innviertel region are all in operation, "but not at 100 percent capacity", he says, "the order status is good".

"Challenges well managed so far"
While voestalpine recently had to adjust its forecasts for the 2024/25 financial year and announced that it would generate less profit than expected, AMAG can stick to its expectations for 2024 published at the end of July, it said on Wednesday. "Challenges affect us no less than other companies. So far, however, we have succeeded in managing them," said Kaufmann.