Key Highlights
Revenue increased by 5% to $258.9 million in the third quarter 2017 from $247.5 million in the third quarter 2016
EBITDA(2) was $27.6 million in the third quarter 2017, an increase of $4.2 million, or 18%, over the same period in 2016
Operating profit increased by 10% to $17.8 million in the third quarter 2017 from $16.1 million in the third quarter 2016
Net income attributable to shareholders increased by 169% to $14.0 million in the third quarter 2017 from $5.2 million in the third quarter 2016
EPS, on a fully diluted basis, was $0.44 in the third quarter 2017, an increase of $0.26, or 144%, over the same period in 2016
Cash from operating activities on a year to date basis was $45.3 million, an increase of $4.6 million, or 11%, over the same period in 2016
Annualized return on capital employed increased to 21.5% in the third quarter 2017, as compared to 18.0% in the third quarter 2016
AMG has mandated Outotec OYJ, Finland, to complete engineering work for a second lithium concentrate plant at the Mibra mine in Brazil

Amsterdam, 2 November 2017 (Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") reported third quarter 2017 EBITDA of $27.6 million, an 18% increase from $23.4 million in the third quarter 2016. Revenue increased to $258.9 million in the third quarter 2017, an increase of $11.4 million, or 5%, from the third quarter 2016. Net income attributable to shareholders for the third quarter 2017 was $14.0 million, a 169% increase from $5.2 million in the third quarter 2016.

Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, "AMG's third quarter 2017 performance was once again strong across all of our key financial and operational metrics, driven primarily by improved pricing and volume in our Critical Materials business. On a year to date basis, net income attributable to shareholders has increased by $12.0 million, or 39%, to $42.6 million, resulting in a 29% year to date improvement in EPS, on a fully diluted basis.

I am pleased to announce that during the quarter, we further advanced our work on the first lithium concentrate plant at the Mibra mine in Brazil, in accordance with our EPC contract development schedule with Outotec OYJ, Finland. Furthermore, as announced today, we have signed a contract with Outotec to complete engineering work for a second lithium concentrate plant at the Mibra mine in Brazil. The annual design capacity of the second lithium concentrate plant will be 90,000 tons, leading to a combined annual production capacity of 180,000 tons. We expect to make a final investment decision for the second plant in December 2017 and reach full operating capacity by the end of 2019.

AMG Critical Materials generated EBITDA of $23.5 million during the third quarter 2017, thanks to strong financial performance in vanadium and titanium alloys, and the recognition of $4.6 million in business interruption insurance, following the fire at the Mibra mine in Brazil.\

AMG Engineering's EBITDA of $4.1 million in the third quarter 2017 was down compared to the third quarter 2016, mainly due to the $4.3 million gain on the sale of an unused production facility recognized in the prior year.

In the third quarter of 2017, AMG generated cash from operating activities of $16.8 million, a decrease of $3.9 million, or 19%, over the same period in 2016. On a year to date basis, AMG generated cash from operating activities of $45.3 million in 2017, an increase of $4.6 million, or 11%, compared to the same period in 2016."

Key Figures
In 000's US Dollar Q3 '17 Q3 '16 Change
Revenue $258,941 $247,526 5%
Gross profit 51,273 46,298 11%
Gross margin 19.8% 18.7%
Operating profit 17,756 16,110 10%
Operating margin 6.9% 6.5%
Net income attributable to shareholders 13,953 5,181 169%
EPS - Fully diluted 0.44 0.18 144%
EBIT (1) 19,879 16,231 22%
EBITDA (2) 27,638 23,403 18%
EBITDA margin 10.7% 9.5%
Cash from operating activities 16,790 20,677 (19%)

Note:
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.
EBITDA is defined as EBIT adjusted for depreciation and amortization.

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AMG Advanced Metallurgical Group N.V. Signs Engineering Contract for Lithium Concentrate Expansion

Amsterdam, 2 November 2017 (Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to announce that it has mandated Outotec OYJ, Finland, to complete detailed engineering for a second lithium concentrate plant at the Mibra mine in Brazil. The annual design capacity of the second plant will be 90,000 tons, leading to a combined annual production capacity of 180,000 tons of lithium concentrate.

Parallel to the engineering work on the second lithium concentrate plant, AMG is finalizing plans to double the operating capacity of the Mibra mine.

The final investment decision for the second lithium concentrate plant is scheduled for December 2017. AMG expects the second lithium concentrate plant to be in production by the end of 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).

tijd 09.10
AMG EUR 39,50 -1,72 vol. 143.000