Amsterdam, 28 November 2018 (Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to announce that effective 1 January 2019, the Company will change its organizational structure. This change will result in two new strategic operating divisions, AMG Technologies and AMG Critical Materials.
AMG's new operating division, AMG Technologies, will be comprised of AMG's existing Engineering and Titanium Alloys businesses and will be a reportable segment replacing AMG Engineering. AMG Critical Materials will consist of seven operating units, namely Vanadium, Superalloys, Tantalum & Lithium, Graphite, Silicon, Aluminum and Antimony.
Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, "AMG Technologies brings together two industry leaders primarily serving the aerospace market, by combining AMG Engineering's expertise in metallurgical process design & development and AMG Titanium Alloys' industry-leading expertise in the development of metallurgical products, furnace operations, and quality assurance processes. In metallurgy, combining engineering and operational knowhow accelerates innovation."
Segment reporting will be adjusted as per 1 January 2019. AMG's proforma segmental information for AMG Technologies and AMG Critical Materials for 2018 is shown below:
Current Segmental Financial Data
Q1 2018 Q2 2018 Q3 2018
AMG Critical Materials AMG Engineering Total AMG Critical Materials AMG Engineering Total AMG Critical Materials AMG Engineering Total
Revenue 248,351 60,097 308,448 267,213 62,108 329,321 261,957 66,114 328,071
Gross Profit 51,922 18,196 70,118 62,151 17,010 79,161 61,455 18,100 79,555
EBITDA 37,076 7,404 44,480 45,252 5,497 50,749 52,139 6,977 59,116
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