AMG Critical Materials NV (CHIX:AMGa)
€ 24.84 (0%) Market Cap: 860.29 Mil Enterprise Value: 1.33 Bil PE Ratio: 0 PB Ratio: 1.68 GF Score: 78/100
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Q3 2024 AMG Critical Materials NV Earnings Call Transcript

Nov 06, 2024 / 06:00PM GMT
Release Date Price: €16.77

Key Points

Positve
  • AMG Critical Materials NV (AMVMF) achieved $40 million in EBITDA for Q3 2024, continuing a steady growth trend.
  • The company's engineering unit secured $131 million in order intake, with a record order backlog of $367 million as of September 30, 2024.
  • AMG's Brazilian Lithium concentrate plant expansion is complete and ramping up, expected to reach full capacity by year-end.
  • The aerospace sector's recovery and technological advancements are benefiting AMG's technology segment, leading to strong performance.
  • AMG's diversified portfolio allows it to mitigate risks associated with market fluctuations, maintaining a low-cost production position.
Negative
  • AMG reported a net loss of $13 million attributable to shareholders for Q3 2024, primarily due to an $18 million inventory cost adjustment in the lithium segment.
  • Lithium and vanadium prices have weakened, impacting AMG's financial performance despite positive EBITDA.
  • The commissioning and ramp-up of the lithium hydroxide refinery in Bitterfeld, Germany, face timing uncertainties, delaying full capacity expectations to the second half of 2025.
  • AMG's vanadium segment experienced a 13% revenue decrease due to lower sales prices and volumes, with a 29% drop in adjusted EBITDA compared to Q3 2023.
  • The company's guidance for 2025 EBITDA is cautious, reflecting uncertainties in lithium and vanadium markets and excluding potential contributions from the Bitterfeld refinery.
Operator

Good day, everyone and welcome to today's AMG Q3 2024 earnings conference call.

(Operator Instructions)

It is now my pleasure to turn the conference over to Michelle Fisher. Please go ahead.

Michele Fischer
AMG Critical Materials NV - Senior Vice President - Communication

Welcome to AMG's third quarter, 2024 earnings call. Thank you for joining so late in the day.

Joining me on this call are Dr. Heinz Schimmelbusch, Chairman of the management board and Chief Executive Officer, Mr. Jackson Dunckel, Chief Financial Officer; Mr. Eric Jackson, Chief Operating Officer and Mr. Michael Connor, Chief Corporate Development Officer.

AMG's third quarter, 2024 earnings press release issued today is on AMG's website. Today's call will begin with a review of the third quarter, 2024 business highlights by Dr. Schimmelbusch, Mr. Connor will comment on strategy, Mr. Dunckel will comment on AMG's financial results and Mr. Jackson will discuss operations at the completion of Mr. Jackson's remarks, Dr. Schimmelbusch will comment on outlook.

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