AMG Advanced Metallurgical Group N.V. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
February 22, 2023 at 11:30 pm IST
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AMG Advanced Metallurgical Group N.V. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was USD 390 million compared to USD 330.36 million a year ago. Net income was USD 60.7 million compared to USD 5.71 million a year ago. Basic earnings per share from continuing operations was USD 1.9 compared to USD 0.18 a year ago. Diluted earnings per share from continuing operations was USD 1.85 compared to USD 0.18 a year ago.
For the full year, sales was USD 1,642.77 million compared to USD 1,204.67 million a year ago. Net income was USD 187.59 million compared to USD 13.77 million a year ago. Basic earnings per share from continuing operations was USD 5.87 compared to USD 0.44 a year ago. Diluted earnings per share from continuing operations was USD 5.73 compared to USD 0.44 a year ago.
AMG Critical Materials N.V. specializes in the fabrication of specialty metals and vacuum furnace systems for the aerospace, electronics, optical, chemical, construction, and transportation industries. Net sales break down by family of products as follows:
- metals and advanced materials (58.6%): aluminum alloys, magnesium alloys, silicon metal, chromium metal, tantalum oxides, titanium, vanadium chemical products, aluminum powders, coatings, etc.;
- vacuum furnace systems (41.4%): injection furnaces, casting furnaces, crystallization furnaces, carburizing furnaces, etc. The group also offers vacuum heat-treating services.
Net sales are distributed geographically as follows: the Netherlands (1%), United States (27.7%), China (26%), Germany (8.6%), France (5.2%), Brazil (3.6%), United Kingdom ( 3.5%), Italy (2.9%), Japan (2.8%), Canada (2.7%), India (2.4%), Thailand (1.6%), Mexico (1.4%), Austria (1. 3%), and others (9.3%).