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AMG Critical Materials (AMG) investor relations material

AMG Critical Materials Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary31 Jul, 2025

Executive summary

  • Q2 2025 revenue rose 20% year-over-year to $439 million, with adjusted EBITDA up 79% to $71 million, marking the highest quarterly adjusted EBITDA since Q4 2023, driven by strong AMG Technologies and Antimony segments.

  • Net income attributable to shareholders was $12 million, reversing an $11 million loss in Q2 2024, reflecting a significant profitability recovery.

  • Diversified platform across upstream, midstream, and refining provides resilience to geopolitical and regulatory shifts.

  • No material negative direct effects from tariffs or trade barriers; operations benefit from critical materials within domestic value chains.

  • Robust liquidity position of $462 million supports ongoing growth initiatives and capital projects.

Financial highlights

  • Adjusted EBITDA reached $71 million in Q2 2025, up from $39 million in Q2 2024.

  • Revenue increased to $439 million, a 20% rise compared to Q2 2024.

  • Return on capital employed was 14.9%, the highest since Q4 2023.

  • Ended quarter with $502 million net debt, $262 million in unrestricted cash, and $200 million available on revolving credit facility.

  • SG&A expenses rose 28% year-over-year, mainly due to increased headcount and a non-recurring executive retirement benefit.

Outlook and guidance

  • Adjusted EBITDA outlook for 2025 raised to $200 million or more, up from previous guidance, reflecting strong first-half performance and antimony inventory sales.

  • Capital expenditures expected to remain in the $75–100 million range for 2025, signaling the end of a heavy capital expansion phase.

  • Focus remains on disciplined, sustainable growth as market prices recover.

  • Anticipates higher cash flow in the second half of the year, with a chance to reach free cash flow breakeven for FY 2025.

  • Management notes ongoing global economic and market uncertainties.

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Frequently asked questions

AMG Critical Materials NV, formerly AMG Advanced Metallurgical Group NV is a Netherlands-based specialty metals company offering engineered metallurgical products and vacuum furnace systems to a range of industries. The Company is active in three reporting segments: AMG Clean Energy Materials (CEM), which combines recycling and mining operations, producing materials: the vanadium, lithium, and tantalum for infrastructure and energy storage solutions; AMG Critical Minerals (CMI), which consists of mineral processing operations in graphite, silicon metal and antimony; AMG Critical Materials Technologies segment (CMT) consist of vacuum furnace technology line with high-purity materials and produces titanium aluminides, titanium alloys, and chrome metal. The Company’s products are used for critical components in the aerospace, energy, electronics, optics, chemical, construction, and transportation industries.

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