AMG posts lower revenue over Q1, hit by lower lithium and vanadium prices (updated)

AMG Critical Materials NV

07/05/2024 17:33

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       May 7 (Reuters) - Miner and lithium supplier AMG
Critical Materials  AMG.AS  on Tuesday posted lower first
quarter results year-on-year, as low prices hurt revenues for
both lithium and vanadium.
    Revenue of the Dutch company decreased 21% year-on-year to
$358 million in the first quarter of 2024, while earnings before
interest, tax, depreciation and amortization (EBITDA) dropped
74% year-on-year to $30,8 million, the company said in a
statement.
    "Market prices for all products in our portfolio weakened
during the first quarter of 2024 compared to the first quarter
of 2023. The decrease in adjusted EBITDA compared to the first
quarter of 2023 was predominantly driven by the global decline
in lithium and vanadium prices", AMG said.


 (Reporting by Nathan Vifflin
Editing by Tomasz Janowski)
 ((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))