Amag aluminium earnings fall in 2Q as US tariffs squeeze margins

Amag aluminium

Amag aluminium earnings fell in the second quarter as US tariffs and higher costs hit profitability. EBITDA dropped 34.7% to €34.6mn while revenue rose 3.5% to €384.8mn. Shipments edged up 0.4% to 110,800t, yet pricing pressure intensified. Meanwhile, the 50% US tariff effective 4 June will weigh more on the second half. As a result, Amag aluminium earnings remain under strain despite stable volumes.

Tariffs and costs pressure all divisions

Tariffs and input inflation affected metals, casting, and rolling. The metals division absorbed higher alumina prices and US import duties. The casting unit faced sharper price pressure for recycled cast alloys. Therefore, the rolling division endured tariff-driven trade flow shifts and market price declines. Elevated energy and labour costs compounded the squeeze on margins and Amag aluminium earnings.

Half-year results and H2 setup

First-half EBITDA fell 15.4% to €80.6mn on revenue up 11.1% to €786.2mn. Shipments increased 2.9% to 220,400t, but profitability lagged volume. The company expects the 50% US tariff to bite harder in H2 2025. Management maintained stable capacity utilisation, yet near-term losses from tariffs and costs cannot be offset. The CEO urged a viable US trade agreement and improved domestic conditions.

The Metalnomist Commentary

Tariff escalation is amplifying European downstream aluminium margin risk just as power and wage bills stay high. Amag’s levers are mix, energy efficiency, and sales re-routing while advocating predictable US-EU trade terms. Watch H2 for the full tariff impact and any relief from alumina and energy costs.