Netherlands · Delayed Price · Currency is EUR AMG Critical Materials Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 adjusted EBITDA rose sequentially but fell year-over-year due to prior Antimony strength. Capital was raised for lithium, molybdenum, and vanadium expansions, with strong segmental growth in vanadium and engineering. Full-year EBITDA guidance is maintained despite geopolitical risks.
Fiscal Year 2025
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Adjusted EBITDA for 2025 was the third highest in company history despite lithium and vanadium headwinds, with Q4 2025 showing a 25% year-over-year decline. 2026 guidance targets $210–240 million adjusted EBITDA, with improvement expected from Q2 as pricing recovers.
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Q3 2025 saw a 58% year-over-year EBITDA increase, driven by strong AMG Technologies and a $5M compensation gain, despite lithium and vanadium price pressures. Guidance for 2025 EBITDA was raised to $220M+, with positive free cash flow expected in Q4.
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Q2 2025 saw record adjusted EBITDA since Q4 2023, with strong performance in technologies and cost-driven gains in lithium, despite lower prices and volumes. Outlook for 2025 EBITDA was raised to $200M+, and liquidity remains robust to fund growth.
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Q1 2025 saw EBITDA nearly double year-over-year, driven by strong Technologies and antimony performance, despite lower lithium and vanadium prices. Guidance for 2025 EBITDA was raised to $170 million+, with major investments completed and liquidity strong.
Fiscal Year 2024
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Full-year 2024 EBITDA reached $168M, with strong Q4 results despite sharp lithium and vanadium price drops. 2025 EBITDA guidance was raised to $150M+, supported by portfolio diversification, cost leadership, and robust order intake in engineering and technologies.
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Q3 2024 saw $40M EBITDA and a $13M net loss, with strong performance in Technologies and record engineering orders offsetting weak lithium and vanadium prices. 2024 EBITDA guidance was raised to over $150M, while 2025 guidance excludes Bitterfeld due to ramp-up uncertainty.
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Q2 2024 saw strong operational execution and profitability across all units despite low lithium and vanadium prices, with significant progress in lithium and vanadium expansion projects and a major European lithium acquisition. Adjusted EBITDA is expected to exceed $130 million for 2024.