Earnings release
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1 Investor information Ranshofen, 30 October 2025 AMAG Austria Metall AG : Earnings performance in Q3/2025 demonstrates high resilience in a persistently difficult environment Rapidly implemented measures enabled largely stable earnings development in Q3/2025 and supported performance in the first nine months Revenues recorded growth of +5.4% to EUR 1,137.0 million (Q1-Q3/2024: EUR 1,078.7 million) due to higher aluminium prices At EUR 114.2 million, EBITDA already exceeds the lower end of the range communicated for the full year 2025 (- 22.6% compared to Q1-Q3/2024: EUR 147.6 million) Net income after taxes at EUR 33.8 million (-37.7% compared to Q1-Q3/2024: EUR 54.3 million) Cash flow from operating activities recorded a growth of +23.3% to EUR 134.8 million (Q1-Q3/2024: EUR 109.3 million) Outlook for the 2025 financial year: EBITDA expected to be at the upper end of the communicated range (EUR 110 million to EUR 130 million) , although experience shows that valuation effects can have a noticeable impact In a subdued economic environment hampered by trade policy, the AMAG Group succeeded in maintaining the earnings quality of the previous quarter in Q3/2025. At over EUR 114 million, the lower limit of the communicated EBITDA range for the full year was already exceeded after nine months. At the same time, free cash flow more than doubled to over EUR 94 million. Dr. Helmut Kaufmann, Chief Executive Officer of AMAG Austria Metall AG: “The wide- ranging stabilisation measures we have intensified in recent months are already bearing fruit. Through productivity increases at the Ranshofen site, consistent liquidity management and a clear focus on cost efficiency, we were able to largely offset the
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2 increasingly negative market influences in the third quarter. In addition, working capital optimisations and targeted investment cuts have significantly strengthened cash flow development.” The revenues of the AMAG Group grew by +5.4% to EUR 1,137.0 million in the first three quarters of 2025 (Q1-Q3/2024: EUR 1,078.7 million). The increase is primarily attributable to a +6. 7% higher aluminium price (in USD) . At 320,800 tonnes, the AMAG Group's total shipments were slightly below the previous year's level (323,300 tonnes). At 293,400 tonnes, external shipments were at a similar level compared to the previous year (295,700 tonnes). Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to EUR 114.2 million in the current reporting period, compared to EUR 147.6 million in the previous year (-22.6% compared to Q1-Q3/2024). The Metal Division benefited from an attractive aluminium price, which partially offset the lower premium revenues resulting from US tariffs. In the Casting Division , the continuing weak market environment in the automotive industry had an expected impact on earnings. Among other things, increased productivity compared with the previous year mitigated the impact. The Rolling Division was also affected by the persistently weak economic environment and US tariffs. However, a high degree of flexibility, an increase in productivity and the rapidly implemented stabilisation measures were able to cushion these effects noticeably. Depreciation and amortisation decreased significantly to EUR 61.0 million (Q1-Q3/2024: EUR 66.8 million). Operating profit (EBIT) for the current reporting period was EUR 53.2 million (-34.1% compared to Q1 -Q3/2024: EUR 80.7 million). Net income after taxes amounted to EUR 33.8 million in the first nine months (-37.7% compared to Q1-Q3/2024: EUR 54.3 million). Cash flow from operating activities recorded significant growth of around +23% to EUR 134.8 million (Q1 -Q3/2024: EUR 109.3 million). Investments were reduced noticeably and amounted to EUR 40.6 million in Q1 -Q3/2025 (Q1-Q3/2024: EUR 69.0 million). This resulted in a significant increase in free cash flow of +134% to EUR 94.2 million (Q1-Q3/2024: EUR 40.2 million).
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3 Net financial debt was reduced considerably to EUR 344. 4 million as of 30 September 2025 (31 December 2024: EUR 382.3 million). Equity remained stable at EUR 736.2 million as of the current quarterly reporting date (31 December 2024: EUR 740.9 million). The equity ratio rose slightly to 42.5% as of 30 September 2025 (31 December 2024: 42.3%). Earnings performance in the third quarter of 2025 Revenues in the third quarter amounted to EUR 350.8 million, compared with EUR 370.9 million in the same quarter of the previous year ( -5.4% compared with Q3/2024). The AMAG Group's total shipments were 100,400 tonnes ( -8.0% compared to Q3/2024: 109,100 tonnes), with external shipments of 92,400 tonnes (-6.7% compared to Q3/2024: 99,000 tonnes). At EUR 33.5 million, EBITDA was roughly on a par with the previous quarter (Q2/2025), despite the increasing burden of US tariffs and greater price sensitivity. However, this represents a noticeable decrease compared with the previous year (-35.8% compared with Q3/2024: EUR 52.2 million). Taking into account depreciation and amortisation of EUR 19.1 million (Q3/2024: EUR 22.2 million), EBIT of EUR 14.5 million was achieved in the third quarter of 2025 (-51.8% compared to Q3/2024: EUR 30.0 million). Net income after taxes amounted to EUR 10.4 million (-50.3% compared to Q3/2024: EUR 20.9 million). Cash flow from operating activities grew significantly by around +74% to EUR 58.5 million in the third quarter of 2025 ( Q3/2024: EUR 33.6 million) , while investments were reduced by around -35% to EUR 13.4 million. The generated free cash flow rose considerably by +246% to EUR 45.1 million (Q3/2024: EUR 13.0 million).
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4 Outlook for 2025: The global economic environment in 2025 remains challenging and uneven. For USA, GDP growth of +1.8% is currently expected, affected by US tariff policy. At +1.2%, the anticipated economic growth in the eurozone also reflects the effects of the trade policy environment. Significantly lower growth is expected for Germany (+0.2%) and for the domestic economy (+0.3%). 1 Overall, the environment remains challenging with only limited growth potential for Q4/2025. Dr. Helmut Kaufmann, Chief Executive Officer of AMAG Austria Metall AG: “The development of our earnings situation to date underscores AMAG's high resilience. We continue to focus on quality, delivery reliability, flexibility, customer proximity and cost efficiency and will be able to maintain capacity utilisation in Ranshofen at roughly the same level as last year. Despite the current subdued mood, we are convinced that AMAG is well set-up for the future and will benefit from the next economic upturn, which is sure to come.” It can be assumed that the economic environment will not change significantly in the fourth quarter of 2025. This means that the challenges for AMAG's operating divisions will remain. In the Metal Division , earnings are expected to remain strong despite the elimination of US tariff exemptions for Canada. In the Casting and Rolling divisions, the trade policy environment with its high price sensitivity is leading to continued pressure on earnings. The AMAG Management Board expects EBITDA for 2025 as a whole to be at the upper end of the currently existing earnings range (EUR 110 million to EUR 130 million). Experience has shown that valuation effects in particular, the probability of which can only be predicted to a limited extent , can have a significant impact on earnings. 1 WIFO Economic Forecast 3/2025
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5 AMAG key figures: Q3/2025 Q3/2024 Change in % Q1-Q3/ 2025 Q1-Q3/ 2024 Change in % Shipments in tonnes 100,400 109,100 -8.0 320,800 323,300 -0.8 of which external shipments in tonnes 92,400 99,000 -6.7 293,400 295,700 -0.8 Revenues in EUR million 350.8 370.9 -5.4 1,137.0 1,078.7 +5.4 EBITDA in EUR million 33.5 52.2 -35.8 114.2 147.6 -22.6 EBIT in EUR million 14.5 30.0 -51.8 53.2 80.7 -34.1 Net income after taxes in EUR million 10.4 20.9 -50.3 33.8 54.3 -37.7 Cash flow from operating activities in EUR million 58.5 33.6 +74.1 134.8 109.3 +23.3 Cash flow from investing activities in EUR million -13.4 -20.6 +34.7 -40.6 -69.0 +41.2 Employees in FTE1) 2,168 2,237 -3.1 2,199 2,235 -1.6 30 September 2025 31 December 2024 Change in % Equity in EUR million 736.2 740.9 -0.6 Equity ratio in % 42.5 42.3 Gearing ratio in % 46.8 51.6 1) Average number of employees (full time equivalent) including contract workers, excluding apprentices and, since July 2024, also excluding holiday interns (adjustment also made retroactively for Q1 -Q3/2024) . Includes the 20% personnel share of the interest in the Alouette smelter and the employees of AMAG components.
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6 About the AMAG Group AMAG Austria Metall AG is a leading Austrian premium supplier of high -quality aluminium casting and rolled products used in a wide range of industries, including aerospace, automotive, sporting goods, lighting, mechanical engineering, construction and packaging. The Canadian Alouette smelter, in which AMAG holds a 20% interest, produces high- quality primary aluminium with an exemplary ecological balance. The AMAG components division, based in Übersee am Chiemsee (Germany), also manufactures ready-to-install metal parts for the aerospace industry. Investor contact Press contact Mag. Christoph M. Gabriel, BSc MMag. Alexandra Hanischläger, MBA Head of Investor Relations Head of Communications and Marketing AMAG Austria Metall AG AMAG Austria Metall AG Lamprechtshausener Straße 61 Lamprechtshausener Straße 61 5282 Ranshofen, Austria 5282 Ranshofen, Austria Tel.: +43 (0) 7722-801-3821 Tel.: +43 (0) 7722-801-2673 Email: investorrelations@amag.at Email: publicrelations@amag.at Website: www.amag.at NOTE The forecasts, plans and forward -looking assessments and statements contained in this publication were made on the basis of all information available to AMAG up to 17 October 2025. The economic and trade policy environment has changed several times in recent months . Internal calculations/earnings analyses are based on various assumptions. These include, among other things, the continued validity of global US import duties on aluminium products. If the assumptions underlying the forecasts do not materialise, targets are not achieved or risks arise, actual results may differ from those currently anticipated. We undertake no obligation to update such forecasts in light of new information or future events. This publication has been prepared with the utmost care and the data has been checked. However, rounding, transmission or printing errors cannot be ruled out. In general, rounding may result in deviations in the values, totals and percentages shown. AMAG and its representatives accept no liability for the completeness and accuracy of the information contained in this publication. This publication is also available in German, whereby the German version shall prevail in case of doubt. This publication does not constitute a recommendation or invitation to buy or sell AMAG securities.