Brief: AMG Q1 Net Profit Group Share Turns To Loss Of $16.3 Mln

AMG Critical Materials NV

07/05/2024 17:17

May 7 (Reuters) - AMG Critical Materials NV  AMG.AS :
    * AMG LITHIUM Q1 2024 ADJUSTED EBITDA DECREASED 94%, TO $6
MILLION, FROM $90 MILLION IN Q1 OF 2023 
    * IN BITTERFELD, GERMANY, AMG'S LITHIUM HYDROXIDE REFINERY'S
FIRST
20,000-TON MODULE IS ON SCHEDULE
    * AMG REPORTS FIRST QUARTER 2024 RESULTS: LITHIUM PROJECTS
ON
SCHEDULE
    * Q1 2024 REVENUE OF $358 MILLION, A 21% DECREASE VERSUS Q1
OF
2023
    * IN BRAZIL, EXPANSION OF OUR LITHIUM CONCENTRATE PLANT FROM
90,000 TONS TO 130,000 TONS PER ANNUM IS PROGRESSING AS PLANNED
    * OUTLOOK: WE EXPECT TO REACH FULL NAMEPLATE CAPACITY OF
130,000
TONS IN Q4 OF 2024
    * OUTLOOK: WE PLAN TO SHIP PRODUCTION BATCHES TO CLIENTS IN
Q3 OF
2024
    * VANADIUM ELECTROLYTE PLANT AT AMG TITANIUM IN NUREMBERG,
GERMANY
IS IN FINAL STAGES OF COMPLETION. WE EXPECT TO HAVE NAMEPLATE
CAPACITY AVAILABLE BY SECOND HALF OF 2024
    * AMG'S LIQUIDITY AS OF MARCH 31, 2024 WAS $485 MILLION,
WITH $285
MILLION OF UNRESTRICTED CASH AND $200 MILLION OF REVOLVING
CREDIT AVAILABILITY
    * PROPOSED DIVIDEND OF EUR 0.20
    * Q1 NET LOSS GROUP SHARE $16.3 MILLION VERSUS PROFIT $56.2
MILLION YEAR AGO
    * OUTLOOK: LOW PRICES CONTINUE FOR BOTH LITHIUM AND
VANADIUM.
UTILIZING TODAY'S PRICE LEVELS, WE REITERATE THAT AMG'S 2024
ADJUSTED EBITDA WILL BE APPROXIMATELY $130 MILLION

Source text: https://tinyurl.com/24vzvaac
Further company coverage:  AMG.AS 

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