EANS-Adhoc: AMAG Austria Metall AG /

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3-month report

03.05.2011

AMAG Group records strong sales and revenue growth in the first
quarter of 2011

• Sales rise 27% to EUR 214.6 million (Q1 2010: EUR 168.6 million) •
EBITDA rises 15% to EUR 35.9 million from EUR 31.1 million, EBIT up
24% to EUR 24.6 million from EUR 19.9 million • High capacity
utilisation in all production areas also ensured for the next
quarter by full order books

Ranshofen, 3 May 2011 - Despite the political instability in North
Africa and the Near East, and the resulting increase in energy and
raw material prices, AMAG Austria Metall AG ("AMAG"), a leading
Austrian manufacturer of primary aluminium and high-quality aluminium
cast and flat-rolled products, was able to increase sales in Q1 2011
by 27% compared to the previous year, to EUR 214.6 million from EUR
168.6 million.

Earnings before interest, taxes, depreciation and amortisation
(EBITDA) rose by 15% compared to the first quarter of the record year
2010, reaching EUR 35.9 million (Q1 2010: EUR 31.1 million). EBIT
increased 24% compared with the same period in 2010, to EUR 24.6
million from EUR 19.9 million.

The strong sales and revenue growth in the first quarter of 2011, as
in the previous year, was stimulated by the continuing increase in
demand for high-quality aluminium cast and flat rolled products.
Owing to the quick recovery witnessed in the previous year, the
facilities in Ranshofen are producing at full capacity.

In order to increase production capacity by more than 20% from
150,000 tons (in 2010) to 186,000 tons (by 2014) and at the same time
expand the product portfolio in the rolling division, the Ranshofen
site is benefiting from an extensive investment programme. In the
first quarter of 2011, a new production process for precision plates
was launched and a shredder for mixed aluminium scrap was
commissioned. Furthermore, capacity in the casting division is to be
increased from the current 80,000 tons to 94,000 tons by 2014. A new
filling station for liquid aluminium deliveries was commissioned on
schedule in Q1 2011. A total of EUR 75 million is to be invested in
this programme by 2014.

In the metal division, sales increased 26% to EUR 147.8 million from
EUR 117.1 million in the first quarter of 2010, mainly due to higher
aluminium prices. While production from the Alouette smelter could be
slightly increased, the shipment volume was down 10% on the previous
year, at 22,235 tons, due to a delay in delivery ensuing impacts on
earnings. EBITDA in the division was EUR 9.7 million, and EBIT was
EUR 4.1 million, significantly lower than the respective results from
the previous year of EUR 16.3 million and EUR 10.6 million. Further
reasons for this development in earnings, despite higher aluminium
prices on a quarter-to-quarter comparison, were increased
raw-material prices and effects from metal management.

In the casting division, sales increased 36% compared to the first
quarter of the previous year, to EUR 35 million from EUR 25.7
million. The shipment volume of 19,325 tons was on a level with that
of the previous year. EBITDA rose from EUR 1.2 million in the
previous year to EUR 2.2 million (+76%). EBIT grew from EUR 0.7
million to EUR 1.7 million (+128%). The main reason for this positive
development was a shift in the sales mix to higher value products and
an increase in margins.

In the rolling division, sales rose on a quarter-to-quarter
comparison from EUR 117.4 million to EUR 152.9 million (+30%). The
shipment volume increased by 9% from 39,023 tons to 42,662 tons.
EBITDA increased by 80% from EUR 12.4 million to EUR 22.3 million and
EBIT grew 108% from EUR 9.1 million to EUR 18.8 million. The growth
in earnings results from the increased sales volume, a shift in the
sales mix to higher value products and an increase in margins over
LME.

The positive overall outlook for the company is confirmed by the
business development seen in the first quarter of this year. The
company is equally confident of achieving continued good results for
the rest of the year.

Key figures

in Euro million 1-3/2011 1-3/2010 Change 2010
Sales 214.6 168.6 27 % 728.0
EBITDA 35.9 31.1 15 % 139.0
EBIT 24.6 19.9 24 % 93.8
Employees (1) 1,221 1,157 6 % 1,175

(1) Average workforce (Full Time Equivalent) inclusive leased
employees, without apprentices

All business figures of 2010 refer to AMAG Holding GmbH (incl.
subsidiaries). About AMAG Group

AMAG is a leading Austrian manufacturer of primary aluminium and high
quality aluminium cast and flat rolled products for the aircraft,
automotive, construction, electronics and sports equipment
industries. With 1,175 employees, the Company achieved sales of EUR
728 million and EBITDA of EUR 139 million in 2010.

Cautionary statements

The forecasts, plans and forward-looking assessments and statements
contained in this report are based on the information currently
available to us. Should the assumptions on which the forecasts have
been based fail to occur, the targets not be met or risks
materialize, then the actual results may deviate from the results
currently anticipated. We undertake no obligation to update publicly
any such forecasts in light of new information or future events. We
have exercised the utmost diligence in preparing this report and have
checked the data contained therein. However, rounding, transmission
and printing errors cannot be ruled out. This report is also
available in German. In case of doubt, the German version prevails.

end of announcement euro adhoc
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ots Originaltext: AMAG Austria Metall AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Leopold Pöcksteiner
Leitung Strategie, Kommunikation, IR

AMAG
Lamprechtshausnerstraße 61
5282 Ranshofen, Austria
Tel.: +43 (0) 7722-801-2205
Email: Leopold.Poecksteiner@amag.at
Website: www.amag.at

Branche: Metal Goods & Engineering
ISIN: AT00000AMAG3
WKN:
Index: Prime Market
Börsen: Wien / official dealing