AMG Advanced Metallurgical Group N.V. has reported that their full year 2010 revenue increased 14% to $990.5 million, from $867.4 million in 2009. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 23% to $84.9 million in 2010 compared with $69.1 million in 2009.
AMG is the parent company of vacuum furnace manufacturer ALD Vacuum Technologies, and reports that the market for vacuum systems improved substantially in the second half of the year.
The Engineering Systems division, which includes ALD, reported that the order intake for 2010 was $280.8 million, up 53% from 2009. The division generated revenue of $67.7 million and EBITDA of $10.0 million in Q4 2010, with full year revenue and EBITDA of $245.7 million and $37.5 million, respectively.
Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, commented, “2010 was a transition year. Our primary end markets of aerospace, energy, infrastructure and specialty metals and chemicals began to rebound from the global financial crisis. The improvement in market conditions experienced in the second half of 2010 and our investments in tantalum, antimony and aluminium master alloys position the business for revenue and EBITDA growth in 2011.”