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AMAG Austria Metall
AMAG.VI Small CapBasic Materials · Aluminum
Updated: May 22, 2026, 22:06 UTC
Key Metrics
Valuation Analysis
About the Company
AMAG Austria Metall AG, together with its subsidiaries, engages in the production, processing, and sale of aluminum, aluminum semi-finished, and cast products in Austria, Europe, North America, and internationally. The company operates through four segments: Metal, Casting, Rolling, and Service. The Metal segment produces primary aluminium; and manages metal production streams. The Casting segment produces recycled casting alloys from aluminium scrap. This segment's product portfolio includes customer-specific aluminium materials in the form of ingots, sows, and liquid metals. The Rolling segment produces and sells rolled products comprising sheets, coils, and plates, as well as precision cast plates and precision rolled plates. The Service segment offers facility management services, incl
AMAG Austria Metall Stock at a Glance
AMAG Austria Metall (AMAG.VI) is currently trading at €28.00 with a market capitalization of $987.4M. The trailing P/E ratio stands at 29.17x, with a forward P/E of 15.74x. The 52-week range spans from €23.40 to €30.60; the current price is 8.5% below the yearly high. Year-over-year revenue growth stands at +0.6%. The net profit margin stands at 2.99%.
💰 Dividend
AMAG Austria Metall pays an annual dividend of €0.75 per share, representing a yield of 2.68%. The payout ratio stands at 125%. The elevated payout ratio reflects a mature dividend policy.
📊 Analyst Rating
4 analysts rate AMAG Austria Metall (AMAG.VI) on consensus: Buy. The average price target is €30.15, implying +7.69% from the current price. Analyst price targets range from €27.00 to €34.00.
Investment Thesis: Strengths & Weaknesses
- Analyst consensus: Buy
- Solid dividend yield of 2.68%
- Positive free cash flow
- –Low profitability (2.99% margin)
Technical Snapshot
Price shows short-term weakness (below 50d MA) but is still in a longer-term uptrend (above 200d MA).
Risk Profile
The data points to relatively defensive market behavior.
Trading Data
💵 Dividend Info
Related Stocks in the Same Sector
AMAG Austria Metall (AMAG.VI) 2026: 28,10 EUR Austrian Aluminum-Rolling-and-Casting Specialist with B&C-Industrieholding Anchor, Aluminerie-Alouette Canadian Smelter Stake and 2,67 Percent Dividend Yield
The Real Story
AMAG Austria Metall AG (Vienna: AMAG) is a Ranshofen, Austria-headquartered aluminum producer founded in 1939. The company operates: (1) Aluminum Smelting via 20 percent stake in Aluminerie Alouette (Canadian Sept-Îles primary-aluminum smelter, world's largest single-site capacity); (2) Aluminum Rolling and Casting for automotive-and-aerospace customers including BMW, Mercedes, Airbus, and Boeing; (3) Aluminum Recycling with approximately 80 percent recycled-content positioning that captures EU-Green-Deal sustainability premiums.
The structural trajectory: post-2022-energy-crisis recovery driven by European-aluminum-import-substitution as Russian-and-Chinese-aluminum-imports compress; long-duration aerospace-customer-demand from Airbus-and-Boeing build-rate-recovery through 2027–2028; automotive-light-weighting structural-volume-growth; EU-Green-Deal recycled-aluminum-premium pricing. B&C Industrieholding (Austrian industrial-holding controlled by Bank Austria and Erste Group) is the strategic anchor at approximately 53 percent.
What Smart Money Thinks
AMAG has structurally-controlled shareholder-register. B&C Industrieholding GmbH holds approximately 53 percent — strategic anchor since the 2011 IPO. Raiffeisenbank International at approximately 4,2 percent, Oberbank AG at approximately 3,8 percent represent Austrian-aligned-institutional flow. Free-float approximately 38 percent. Short-interest sits at approximately 2,1 percent of float as of May 2026 — very low, reflecting structural-defensive narrative.
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📈 The 3 Real Bull Points
AMAG supplies aerospace-grade rolled-aluminum to Airbus, Boeing, and major aerospace tier-1-suppliers (Spirit AeroSystems, Premium AEROTEC). The 2024–2028 aerospace build-rate recovery from Boeing 737-MAX-quality-overhang-and-Airbus-A320-family-ramp creates structural demand-trajectory. Management guides to approximately 12–18 percent annual aerospace-rolled-product-volume growth through 2027.
AMAG's approximately 80 percent recycled-aluminum-content positioning captures EU-Green-Deal sustainability premiums of approximately 80–150 EUR per tonne versus primary-aluminum. The CBAM (Carbon Border Adjustment Mechanism) implementation 2026 onwards favours EU-based-low-CO2 aluminum producers structurally.
AMAG's 20 percent Aluminerie Alouette stake (Canadian Sept-Îles smelter, hydroelectric-powered at approximately 0,04 USD/kWh) provides structural upstream-cost-advantage and supply-chain-vertical-integration. The Canadian-hydro-power-cost is structurally lower than European-natural-gas-priced aluminum smelters.
📉 The 3 Real Bear Points
AMAG's Austrian rolling and casting operations face structurally-higher energy-costs than Asian peers plus residual Chinese-aluminum-export-pressure compressing European-aluminum pricing. A renewed European energy spike 2026–2027 would compress AMAG-margins materially.
AMAG's aerospace-rolled-product business is exposed to Boeing-and-Airbus build-rate volatility. Boeing-737-MAX-quality-overhang and Airbus supply-chain-recovery-delays could compress AMAG aerospace-volume-trajectory.
AMAG's 15,8x forward P/E sits at the high-end of European-aluminum-peer-average and at the upper bound of the historical 5-year-range. Multiple-expansion potential is structurally limited.
Valuation in Context
AMAG at 28,10 EUR per share with approximately 35,3 million shares outstanding has a market capitalization of approximately 991 million EUR. Enterprise value approximates the market cap plus modest net-debt. Against TTM revenue of approximately 1,3 billion EUR this translates to approximately 0,8x EV/sales.
On forward-earnings, AMAG trades at approximately 15,8x consensus fiscal-2026 EPS of approximately 1,78 EUR. Applying peer-blended fair-multiple of 16–20x to fiscal-2027 EPS of approximately 2,30 EUR produces fair-value range 37–46 EUR per share — 32–64 percent upside. Bear-case 22–26 EUR. Bull-case (aerospace ramp accelerates, EU-Green-Deal-premium expands) 52–62 EUR over 24-36 months. The 2,67 percent dividend adds modest income.
🗓️ Next 3 Catalyst Dates
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2026 Q3:
H1 2026 earnings (early August 2026). Watch-items: aerospace-rolled-product volume growth, EU-Green-Deal-premium capture, Alouette equity-pickup contribution.
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2027 Q1:
Fiscal-2026 full-year results (early March 2027) plus fiscal-2027 guidance. Bullish 2,50+ EUR EPS guidance plus aerospace ramp acceleration would unlock 38–46 EUR range.
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2027 H2:
Half-year 2027 results plus CBAM implementation Phase-2 impact assessment.
💬 Daniel's Take
AMAG Austria Metall is a quality-cyclical Austrian aluminum-rolling-and-casting specialist with aerospace-ramp tailwind, EU-Green-Deal recycled-aluminum-premium, B&C-Industrieholding strategic anchor and Aluminerie-Alouette upstream-hedge. Position-sizing: 1,0–1,8 percent in quality-cyclical-industrial sleeve, 24–36 month patience.
Sources (3)
Disclaimer: This article is not investment advice. Investing in stocks carries risks, including total loss.
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