Brief: AMG Critical Materials Q2 EBITDA Up At USD 107 Million

AMG Critical Materials NV

26/07/2023 17:28

July 26 (Reuters) - AMG Critical Materials NV  AMG.AS :
    * AMG’S LITHIUM OPERATIONS CONTINUE TO DRIVE RECORD EARNINGS
WITH
THE FOURTH STRAIGHT QUARTER EXCEEDING $100 MILLION OF EBITDA
    * Q2 REVENUE OF $439 MILLION, A 4% INCREASE VERSUS A YEAR
AGO
    * Q2 EBITDA OF $107 MILLION WAS 32% HIGHER THAN Q2 2022
    * AMG'S LIQUIDITY AS OF JUNE 30, 2023 WAS $586 MILLION
    * AMG DECLARES AN INTERIM DIVIDEND OF EUR 0.40 PER ORDINARY
SHARE,
TO BE PAID IN Q3 OF 2023
    * PRICE OF LITHIUM CARBONATE IN NOVEMBER 2022, DATE OF OUR
$400
MILLION EBITDA GUIDANCE, HAS NOW ALMOST HALVED AND OUR OTHER
RELEVANT PORTFOLIO PRICES ARE DOWN AN AVERAGE OF 25%
    * FULL YEAR EBITDA GUIDANCE FOR 2023 CHANGED FROM "EXCEEDING
$400
MILLION IN EBITDA" TO "A RANGE BETWEEN $350 MILLION TO $380
MILLION IN EBITDA."
    * Q3 PROFITABILITY WILL BE NEGATIVELY IMPACTED BY LOWER
VOLUMES
ASSOCIATED WITH SPODUMENE EXPANSION PROJECT
    * OUR LONG-TERM GUIDANCE THEREFORE REMAINS UNCHANGED AT AN
EBITDA
LEVEL OF $650 MILLION, OR MORE, IN 5 YEARS, OR EARLIER

Source text for Eikon:  ID:nGNX13ZFyT 
Further company coverage:  AMG.AS 

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