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AMG Critical Materials (AMG) investor relations material
AMG Critical Materials Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 revenue rose 22% year-over-year to $435 million, with adjusted EBITDA up 58% to $64 million, mainly from strong AMG Technologies performance and a $5 million compensation settlement for equipment failure.
Net income attributable to shareholders was $13 million, a turnaround from a $13 million net loss in Q3 2024.
Strategic divestment of the natural graphite business for $65 million to focus on core growth and strengthen the balance sheet; transaction expected to close by year-end 2025.
Key expansion projects include a chromium metal plant in the US (startup Q2 2026), titanium alloys capacity increase, and feasibility studies for tantalum, niobium, and antimony dioxide plants.
Ongoing ramp-up of the Bitterfeld lithium hydroxide refinery in Europe and progress on the Saudi Arabia Super Center joint venture.
Financial highlights
Q3 2025 adjusted EBITDA rose 58% year-over-year to $64 million.
Revenue increased 22% year-over-year to $435 million.
Net income attributable to shareholders was $13 million, reversing a loss in Q3 2024.
AMG Technologies revenue increased 59% year-over-year, with adjusted EBITDA more than doubling.
Liquidity stood at $419 million at quarter-end, with $220 million in unrestricted cash.
Outlook and guidance
Adjusted EBITDA guidance for 2025 raised from $200 million+ to $220 million+.
Capital expenditures for 2025 expected at $75–$100 million.
Five-year guidance targets normalized EBITDA of $500 million or more.
Guidance for 2026 and beyond to be provided with full-year results for improved accuracy.
Management cites limited visibility due to geopolitical uncertainties, especially regarding antimony export restrictions.
When will strategic projects turn profitable?
Lithium segment recovery timeline?
Net debt reduction plan post-divestment?
US critical material project payback expectations
Criteria for future portfolio streamlining
Operational headwinds impact on Q4 FCF
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Next AMG Critical Materials earnings date
Q4 202525 Feb, 2026
Next AMG Critical Materials earnings date
Q4 202525 Feb, 2026
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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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