reports
- Stijn Demeester
AMG/1Q24 preview and model update/BUY
We update our model ahead of AMG's 1Q24 results. While current lacklustre market conditions provide limited room for positive earnings surprises in the short term, we continue to see attractive mid-term earnings growth potential on the back of capacity expansions in Lithium Brazil and Germany. We reiterate our BUY on a lowered target price of €30 per share.
AMG Critical Materials N.V. Completes Issuance of $100 Million Increme...
AMG Critical Materials N.V. Completes Issuance of $100 Million Incremental Term Loan Amsterdam, 15 April 2024 --- AMG Critical Materials N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to announce that it has entered into a new $100 million incremental term loan, structured as a fungible add-on to the existing $350 million senior secured term loan. The $100 million incremental term loan has the same pricing, terms and 2028 maturity as the existing $350 million term loan. AMG will use the proceeds of the new incremental term loan for general corporate purposes and lithium resource develop...
Nuclear Fuel from Nuclear Waste: Formation of NewMOX SAS, France
Nuclear Fuel from Nuclear Waste: Formation of NewMOX SAS, France Amsterdam, 4 April 2024 --- AMG Critical Materials N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to announce the formation of NewMOX SAS, Grenoble, France, to service the nuclear fuel market. NewMOX is a subsidiary of , Hanau, Germany ("ALD"), AMG’s engineering subsidiary focused on vacuum furnace technology, which includes sintering furnace systems enabling the production of commercial nuclear fuel from plutonium and depleted uranium (termed “MOX”). ALD's MOX technology has been applied in Germany, the United States, Fra...
AMG Critical Materials N.V. Publishes Agenda for the 2024 Annual Gener...
AMG Critical Materials N.V. Publishes Agenda for the 2024 Annual General Meeting and Expands Management Board Amsterdam, 27 March 2024 --- AMG Critical Materials N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") has published its Agenda and Explanatory Notes for the 2024 Annual General Meeting (“AGM”) which will take place on May 8, 2024 at the Hilton Hotel in Amsterdam. The Agenda carries, amongst other items, the appointment of a new Management Board member. The Supervisory Board has resolved to expand the Management Board to four members, nominating Mr. Michael Connor to the Management Board as C...
AMG Critical Materials N.V. Publishes 2023 Annual Report
AMG Critical Materials N.V. Publishes 2023 Annual Report Amsterdam, 13 March 2024 --- AMG Critical Materials N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") has published its 2023 Annual Report. The 2023 Annual Report is available to investors and other interested parties via the AMG website (). Hard copies of the 2023 Annual Report can be requested by contacting AMG via email at . About AMG AMG's mission is to provide critical materials and related process technologies to advance a less carbon-intensive world. To this end, AMG is focused on the production and development of energy storage mater...
AMG Critical Materials N.V: 1 director
A director at AMG Critical Materials N.V bought 13,000 shares at 20.090EUR and the significance rating of the trade was 59/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two ...
- Emmanuel Matot
NK IMERYS SA
SOP SOPRA STERIA GROUP SA
EO FAURECIA SA
F3C SFC ENERGY AG
POM PLASTIC OMNIUM SE
ALCLA CLASQUIN SA
GXI GERRESHEIMER AG
ISS ISS A/S
WHA WERELDHAVE N.V.
ISP INTESA SANPAOLO S.P.A.
ERA ERAMET SA
GLB GLANBIA PLC
INH INDUS HOLDING AG
KRN KRONES AG
WIE WIENERBERGER AG
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
ARCAD ARCADIS NV
AALB AALBERTS N.V.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
UCG UNICREDIT S.P.A.
VGP VGP NV
ASS APPLUS SERVICES S.A.
FFARM FORFARMERS
HOME NEINOR HOMES SA
VRLA VERALLIA SAS
- Emmanuel Matot
NK IMERYS SA
SOP SOPRA STERIA GROUP SA
EO FAURECIA SA
F3C SFC ENERGY AG
POM PLASTIC OMNIUM SE
ALCLA CLASQUIN SA
GXI GERRESHEIMER AG
ISS ISS A/S
WHA WERELDHAVE N.V.
ISP INTESA SANPAOLO S.P.A.
ERA ERAMET SA
GLB GLANBIA PLC
INH INDUS HOLDING AG
KRN KRONES AG
WIE WIENERBERGER AG
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
ARCAD ARCADIS NV
AALB AALBERTS N.V.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
UCG UNICREDIT S.P.A.
VGP VGP NV
ASS APPLUS SERVICES S.A.
FFARM FORFARMERS
HOME NEINOR HOMES SA
VRLA VERALLIA SAS
- ING Helpdesk
Benelux Morning Notes
Aalberts: Solid FY23 print. Ackermans & van Haaren: Nextensa FY23 results much lower (c.5% of NAV). AMG: Strong 4Q23 beat, c.US$130m 2024F guidance now includes lower lithium prices. Arcadis: Momentum continues. BE Semiconductor Industries: 4Q23 Results, solid hybrid bonding orders. Kinepolis: 2H23 REBITDA 7% beat despite 1% fewer visitors, net debt a bit better. Proximus: 4Q23 preview. Van Lanschot Kempen: FY23 – DPS up, C/I beat, 4Q net outflows to reverse in 1Q24
- Martijn Den Drijver
AMG : Q4 Excluding one offs Q4 a slight miss, 2024 EBITDA guidance wel...
>Headline Q4 numbers beat css, excluding one offs sales and EBITDA miss css - AMG reported headline Q4 sales that beat css by 1%. Adj. EBITDA came in at $71.1m which represents a beat of 63% versus css of $43.7m. But adjusted EBITDA included a $10m one off (dividend from an equity investment) and a $6m subsidy (IRA act related), meaning that underlying adj. EBITDA was $55.1m. However, more lithium sales were recognized than expected ($17m sales impact, $13m EBITDA im...
- Frank Claassen
AMG - Drop in lithium price continues to hurt
• Q4-23 was surprisingly strong, but mainly due to one-offs. • The painful drop in the lithium price results in another warning for 2024. We will lower our EBITDA estimates by USD 65-70m p/a for 2024/2025.• Our 2025E based SOTP now arrives at EUR 18 p/s with a target EV/EBITDA of 6x (was EUR 22 p/s). Hold maintained.
AMG Reports Record-Setting Earnings for the Full Year 2023
AMG Reports Record-Setting Earnings for the Full Year 2023 Amsterdam, 21 February 2024 (Regulated Information) --- AMG Critical Materials N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) reported record-setting adjusted EBITDA $350 million in 2023, due largely to strong profitability in our lithium and vanadium businesses. Fourth quarter 2023 revenue was $367 million, a 6% decrease versus the fourth quarter of 2022. Fourth quarter 2023 adjusted EBITDA of $71 million decreased 32% compared to the fourth quarter of 2022. Cash from operating activities was $223 million in 2023, the highest in AMG’s h...
AMG Schedule for Fourth Quarter and Full Year 2023 Earnings Release
AMG Schedule for Fourth Quarter and Full Year 2023 Earnings Release Amsterdam, 14 February 2024 --- AMG Critical Materials N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") will release its fourth quarter and full year 2023 financial results on Wednesday, February 21, 2024, at approximately 18:00 CET. AMG will host a conference call to discuss its financial results for the fourth quarter of 2023 at 19:00 CET (18:00 GMT / 1:00PM EST) on Wednesday, February 21, 2024. Please connect approximately 10 minutes prior to the beginning of the call to ensure participation. The call-in information is as follow...
- Gerardo Ibanez
- Steven Boumans
- Gerardo Ibanez
- Steven Boumans
- Martijn Den Drijver
AMG : Preview Q4 2023: lower lithium price hits Q4, 2024 EBITDA guidan...
>Lithium price decline impacts Q4 2023 earnings - AMG will publish Q4 2023 results on February 21 after the close at 18h CET. An investor call is planned for 19h CET. We forecast sales of $363m (company compiled css at $365m, which is down 7% yoy and 2% qoq. Adjusted EBITDA (which ignore the costs associated with strategic projects, the silicon business and one offs) is expected to come in at $41.0m (css at $43.7m), which represents a 61% decline yoy and 24% qoq. Thos...
- Stijn Demeester
AMG/No relief from lithium prices/BUY
We lower our 2024F-2025F EBITDA estimates by c.30% and reduce our target price to €32 per share to reflect a further leg down of the lithium price since our last update. Mark-to-marking our estimates to current spot prices, we see +25% downside to AMG's 2024F guidance of c.US$200m EBITDA. While recognising current lacklustre market conditions provide limited room for positive surprises, we maintain our BUY recommendation on the back of attractive earnings upside potential in case of a lithium pr...
AMG Vanadium Acquires a Suite of Processing Related Technologies and I...
AMG Vanadium Acquires a Suite of Processing Related Technologies and IP Related Activities from Transformation Technologies Inc. Amsterdam, 5 February 2024 --- AMG Critical Materials N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that AMG Vanadium has acquired a suite of processing technologies and IP related activities from Transformation Technologies Inc. (“TTI”), a US-based company focused on the creation of green energy, green oil and recyclable metals. TTI has developed a unique technology for thermal treatment of spent catalyst and other oil refinery wastes into val...
- Sinan Doganli
ODDO BHF Small & MIDCAP MORNING NEWS - 30/01/2024 Date Performance dep...
A date, il nous semble un peu tôt pour pleinement repondérer les Midcaps en raison du timing de la baisse des taux que nos économistes/stratégistes situent à mi-2024, mais : i/ les valorisations (PE 24e : 12,5x - VE/EBITDA 24e : 6,3x) offrent, ponctuellement au moins, des opportunités (décote proche de 30% par rapport aux Large caps), ii/ la croissance attendue est de ~4% (CA 24e) et 8% sur l’EBITDA 24e, iii/ l’approche de la détente des taux amorce un changement dans la perception gé...
- Sinan Doganli
ODDO BHF Small & MIDCAP MORNING NEWS - 01/30/2024 Date Performance sin...
To date, we believe it is a bit early to fully reweight midcaps due to the timing of the interest rate cut which our economists/strategists are expecting in mid-2024, but: i/ valuations (P/E 2024e: 12.5x - 2024e EV/EBITDA: 6.3x) offer, at least occasionally, a number of opportunities (discount close to 30% compared to large caps), ii/ expected growth is at ~4% (2024e sales) and 8% in 2024e EBITDA and iii/ the approach of easing interest rates initiates a change in the general risk per...
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