AMG draait 'beste kwartaal tot nu toe'

1. [verwijderd] 12 november 2008 07:35

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   AMG draait 'beste kwartaal tot nu toe'
   AMSTERDAM (AFN) - Advance Metallurgical Group (AMG) heeft in het derde kwartaal een winst geboekt van 20,8 miljoen dollar tegen een verlies van 25,6 miljoen dollar vorig jaar.
   
   Dat maakte de producent van onder meer hoogwaardige metalen voor de ruimte- en luchtvaartindustrie woensdag bekend.
   
   De omzet steeg met 49 procent tot 437,6 miljoen dollar. Het bedrijfsresultaat (ebitda) verdubbelde ruim tot 71,1 miljoen dollar. Het bedrijf heeft naar eigen zeggen het beste kwartaal tot nu toe gedraaid, ondanks de slechte economische omstandigheden. Het bedrijf kondigde aan het productieniveau aan te passen om de moeilijke omstandigheden het hoofd te kunnen bieden.
   
   De fabrikant is positief over de groeivooruitzichten op lange termijn en verwacht dat het bedrijfresultaat dit jaar met meer dan 65 procent zal groeien ten opzichte van vorig jaar.
   
   Publicatiedatum: 12-11-2008 07:25
   
   Bron:
   www.rabobank.nl/beleggen/iris/page.as...,21640571,&isin-code=NL0000888691&hidetabs=5040&name=AMG
   
2. [verwijderd] 12 november 2008 07:56

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   11/12/2008
   
   AMG Reports Strong Third Quarter in Face of Challenging Economic Conditions
   AMG Reports Strong Third Quarter in Face of Challenging Economic Conditions
   
   
   Key Highlights
   Revenue increased 49% in the third quarter 2008 compared to the third quarter 2007; year to date increase 40%
   EBITDA increased 121% in the third quarter 2008 when compared to the third quarter 2007; year to date increase 99%
   EPS on a fully diluted basis increased to $0.75 compared to the third quarter 2007 to ($0.94), EPS, excluding non-recurring charges, increased to $1.19
   Advanced Materials' third quarter revenue and EBITDA improved by 17% and 120% compared to the third quarter of 2007
   Engineering Systems' third quarter revenue and EBITDA improved by 70% and 54% compared to the third quarter of 2007
   Timminco's third quarter revenue increased by 56% to $66.6 million and EBITDA increased to $7.4 million in the third quarter of 2007
   Graphit Kropfmühl contributed $36.4 million to revenue and $4.1 million to EBITDA during Q3 2008
   Strong balance sheet; cash on hand of $154.2 million, net debt of $79.6 million with no significant debt maturities until 2012; $114.8 million year to date free cash flow [1]
   [1] Free cash flow is defined as EBITDA less change in working capital and maintenance capital expenditures
   
   
   Amsterdam, 12 November 2008 --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") reported third quarter 2008 revenue increased to $437.6 million in the quarter ended 30 September 2008, from $292.9 million in the third quarter 2007, a 49% increase.
   
   Net income attributable to shareholders for the third quarter 2008 was $20.8 million, or $0.75 per fully diluted share. Excluding the non-recurring asset impairment expenses at AMG's 50.4% owned subsidiary, Timminco, and non-recurring acquisition purchase accounting at Graphit Kropfmühl, net income attributable to shareholders for the third quarter 2008 was $32.8 million, or $1.19 per fully diluted share. Adjusted net income was $9.4 million or $0.35 per fully diluted share for the third quarter 2007. EBITDA rose 121% to $71.1 million in the third quarter 2008 compared with $32.1 million in the third quarter 2007.
   
   Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, commented: "I am pleased to report our best quarter to date. Both the Advanced Materials and Engineering Systems divisions increased revenue and earnings driven by the solar, energy and superalloy end markets. AMG's majority owned subsidiary, Timminco Limited, continued to increase production of the solar grade silicon ramp up during the third quarter, shipping 300 metric tonnes, a 36% improvement over the second quarter 2008. Through AMG's diversified business model, conservative balance sheet and significant cash position, AMG is well positioned to endure the economic fallout from the global credit crisis. Demand and pricing for some of our major products are clearly being impacted by the growing uncertainties in the global economy. We are responding to these uncertainties by adjusting production levels on some of our products and increasing our cost containment measures. AMG is focused on protecting free cash flow in 2009."
   
   
   Key Figures
   
   In 000's US Dollar
   Q3'08 Q3'07 [1] Change
   
   Revenue $437,561 $292,897 49%
   Gross profit 94,601 49,585 91%
   Gross margin 21.6% 16.9%
   
   Operating income 47,665 23,902 99%
   Operating margin 10.9% 8.2%
   
   Net Income attributable to shareholders 20,769 (25,630)
   
   
   EPS- Fully diluted 0.75 (0.94)
   Adjusted EPS-Fully diluted [2] 1.19 0.35
   
   EBIT [2] 52,805 27,818 90%
   EBITDA [2] [3] 71,118 32,119 121%
   EBITDA margin 16.3% 11.0%
   
   
   Notes:
   [1] Q3 2007 Revenue has been restated due to an adjustment at Timminco
   [2] In 2008, adjusted for non-recurring, restructuring and impairment charges at Timminco and non-recurring purchase accounting at GK. In Q3 2007 adjusted for debt extinguishment
   [3] EBITDA is defined as earnings before interest, tax, depreciation and amortization and excludes nonrecurring items
   
   
   
   Operational Review
   
   Advanced Materials Division
   
   Q3'08 Q3'07 Change
   Revenue $199,396 $170,981 17%
   Gross profit
   Operating income 42,702
   22,621 23,426
   6,701 82%
   238%
   EBITDA 25,427 11,560 120%
   Capital expenditures 7,643 5,684 34%
   
   
   The Advanced Materials division's third quarter 2008 financial results were driven by continued strong pricing and solid volumes in ferrovanadium and certain other key products. Revenue increased by $28.4 million or 17% to $199.4 million. Gross profit improved by $19.3 million or 82% to $42.7 million. As a percentage of sales, SG&A expenses decreased despite additional corporate infrastructure. EBITDA increased by $13.9 million, a 120% improvement over the third quarter 2007 to $25.4 million.
   
   Gross margins expanded from 14% in the third quarter of 2007 to 21% in third quarter of 2008. The division's secure raw material supply, particularly in ferrovanadium, enabled it to increase gross margins at a faster pace than revenue. The increase in revenue and margins was primarily driven by ferrovanadium, with reference prices increasing by 68% and volumes by 6% over third quarter 2007. Coating materials for thin film solar applications, vanadium chemicals and antimony products also delivered strong margins in the period. Ferronickel-molybdenum and chromium metal suffered significant declines in volumes during the quarter as weakness in the stainless and specialty steel markets impacted demand.
   
   Operating income for the third quarter 2008 improved 238% to $22.6 million, up from $6.7 million for the comparable period in 2007. This was primarily due to the increase in gross profit offset by a marginal increase in selling, general and administrative expenses that was attributable to a build-up in corporate infrastructure.
   
   Capital expenditures were $7.6 million for the quarter, 34% higher than the comparable period in 2007, as previously announced capacity expansion initiatives in ferrovanadium, tantalum and hydropower continued during the quarter.
   
   
   
3. [verwijderd] 12 november 2008 08:00

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   Engineering Systems Division
   
   Q3'08 Q3'07 Change
   Revenue $135,155 $79,350 70%
   Gross profit
   Operating income 44,326
   30,836 24,207
   19,781 83%
   56%
   EBITDA
   Capital expenditures 34,241
   4,392 22,202
   1,775 54%
   147%
   
   
   
   The Engineering Systems division continued its dynamic growth during the third quarter 2008. Order backlog of $393 (€279) million as of 30 September 2008 increased 56% compared to order backlog of $252 million as of 31 December 2007. The backlog consists primarily of solar silicon DSS furnaces and melting and remelting systems for the materials industry. Adjusting for the decrease in the value of the Euro, in which most contracts are denominated, vis-a-vis the U.S. Dollar, the backlog at 30 September is consistent as compared to 30 June 2008 backlog of €282 million.
   
   Third quarter 2008 revenue and EBITDA increased $55.8 million, or 70%, and $12.0 million, or 54%, respectively, over the same period in 2007.
   
   Sales of solar silicon melting and crystallization furnaces for the photovoltaic industry increased 147% in the third quarter 2008 compared to the same period a year ago. Significant capacity expansion in the Berlin production facility was essential to meet the growing global demand for solar silicon DSS furnaces. As of the end of the third quarter 2008, 6 furnaces per week were produced, compared to one furnace per week at the end of the fourth quarter 2007.
   
   Revenue from remelting systems primarily for the aerospace, materials, and specialty steel industries remained on a similar steady growth trajectory as during the second quarter. Geographically, sales to the Asia Pacific region and Europe accounted for a majority of total revenues. Almost all product lines achieved strong margins on increased volumes.
   
   The EBITDA margin decreased to 25% during the third quarter 2008 compared to 28% for the same period in 2007. Excluding a onetime gain in the third quarter of 2007, EBITDA margin increased from 22% in the third quarter 2007 to 25% in the third quarter 2008. The one-time $5 million gain recorded during the third quarter 2007 related to the grants earned in connection with the acquisition of the Berlin production facility. The EBITDA margin increased due to economies of scale resulting from additional sales of DSS vacuum furnace systems. The division continues to proactively address the market changes and is adjusting production capacity to reflect those changes.
   
   In the quarter ended 30 September 2008, capital expenditures increased to $4.4 million from $1.8 million for the third quarter of 2007. This increase was a result of the expansion of the Berlin facility.
   
   
   Timminco
   
   Q3'08 Q3'07 Change
   Revenue $66,579 $42,566 56%
   Gross profit
   Operating income (loss) 11,796
   2,055 1,952
   (2,580) 504%
   N/A
   EBITDA 7,393 (1,643) N/A
   Capital expenditures 24,997 7,446 236%
   
   
   
   Timminco's revenue for the third quarter 2008 was $66.6 million compared with $42.6 million in the third quarter 2007, an increase of 56%. The increase is primarily attributable to the record sales of Timminco's solar grade silicon and silicon metal products. Gross profit also achieved record levels within the silicon product line due to the increased volume of solar grade silicon and higher average selling prices for silicon metal.
   
   Silicon gross profit for the third quarter 2008 was $8.6 million or 17% of sales compared to a gross profit of $0.2 million in the third quarter of 2007. Timminco sold 300 metric tons of solar grade silicon during the third quarter 2008 at an average price of $53kg. The main contributor to the increase in margin was the 36% increase in solar grade silicon volumes and a decrease of the unit production costs of solar grade silicon to $30. Magnesium gross profit for the third quarter 2008 was $3.2 million or 18.7% of sales compared to $1.8 million or 11% of sales in the third quarter of 2007.
   
   Timminco had operating income in the quarter of $2.1 million compared to ($2.6) million loss in the third quarter 2007, due to higher gross profit which was partially offset by increased selling, general and administrative expenses. Higher professional fees and travel related to various strategic initiatives resulted in an increase in SG&A.
   
   During the quarter ended 30 September 2008, Timminco continued the expansion of its solar grade silicon production capacity. This expansion is expected to bring the installed annual solar grade silicon production capacity to 14,400 metric tons, although the ramp up of this capacity will continue for six to twelve months after installation. Capital expenditures increased to $25.0 million for the quarter from $7.4 million in the same period 2007, as the previously announced solar grade silicon capacity expansion continued during the quarter. Sources of funding for this expansion include cash flow from operations, the Company's existing credit facilities, customer deposits and cash on hand. Customer deposits totalled $30.1 million in the third quarter of 2008. Continued growth in solar silicon revenues and gross margin improvement are expected for the balance of 2008.
   
   Graphit Kropfmühl
   Q3'08
   Revenue $36,431
   Gross profit*
   Operating income* (4,223)
   (7,847)
   EBITDA 4,057
   Capital expenditures 1,727
   
   
   * Gross profit and operating income include purchase accounting adjustments in the amount of $10.2 million and $11.0 million, respectively.
   
   Graphit Kropfmühl ("GK") generated $36.4 million in revenue and $4.2 million in gross losses during the quarter ended 30 September 2008. The gross loss was caused by the $10.2 million in purchase accounting related to the acquisition of GK by AMG. Excluding these charges, GK generated $3.2 million in operating income. The EBITDA for the quarter was $4.1 million or 11% of revenue, reflecting the higher average selling prices for silicon metal sales than in the second quarter 2008. GK spent $1.7 million in capital expenditures during the quarter, primarily to begin a project that will expand the production capacity of the silicon metal operations from 30,000 tonnes to 31,000 tonnes.
   
   
   
4. [verwijderd] 12 november 2008 08:01

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   Financial Review
   
   
   Liquidity
   Q3'08 Q4'07 Change
   Total debt $233,797 $140,782 (66)%
   Cash & short-term investments 154,162 187,891 (18)%
   Net debt (cash) 79,635 (47,109) (269)%
   
   
   AMG had a net debt position of $79.6 million as of 30 September 2008. The increase in the Company's net debt is primarily a result of the acquisition of Graphit Kropfmühl, which used $62.9 million of cash and included the assumption of $27.3 million of debt. In addition, Timminco's year-to-date $48.3 million investment in a solar grade silicon expansion and an increased investment in working capital across all segments of the business also impacted liquidity. AMG's term debt and revolving credit facility do not mature until August 2012.
   
   
   Cash Flow
   Nine months ended
   30 September 2008 30 September 2007
   
   Cash flows from operations $76,038 $65,840
   Capital expenditures (95,262) (33,079)
   Acquisitions, net of cash (66,484) (49,321)
   Cash flows from other investing 2,991 4,927
   Cash flows used in investing activities (158,755) (77,473)
   Cash flows generated from (used in) financing activities 73,124 186,419
   Effect of exchange rates on cash held (8,803) 14,789
   Net (decrease) increase in cash and cash equivalents (18,396) 189,575
   
   
   
   Cash flows from operations were $76.0 million in the year-to-date period ended 30 September 2008 as compared to $65.8 million for the comparable period in 2007. Year to date 2008 cash flows from operations were up slightly year over year, as a result of an $88.3 million increase in EBITDA which was offset by an $88.4 million increase in working capital, as compared to the same period in 2007. The working capital increase is the result of higher raw material prices and inventory volumes for the Advanced Materials division's products, increased work in process inventory of solar silicon DSS furnaces in the Engineering Systems division and a build-up of silicon metal inventory at Timminco to support the ramp-up of solar silicon production.
   
   Cash used in investing activities was $158.8 million for the nine months ended 30 September 2008. This increase of $81.3 million over the comparable period in 2007 is primarily related to two items; $48.3 million in costs related to the expansion of the solar silicon production facility at Timminco and $62.9 million for the purchase of approximately 79.5% of Graphit Kropfmühl.
   
   Cash from financing activities was $73.1 million, a decrease of $113.3 million from the same period in 2007. This decrease was primarily the result of two factors, $287.1 million generated from the AMG initial public offering in 2007, offset by the net repayment of $183.6 million debt as compared to the 2008 borrowings on the credit facility for the acquisition of approximately 79.5% of Graphit Kropfmühl and borrowings to fund the working capital increases in Advanced Materials and Timminco.
   
   
   Outlook
   
   Despite the challenging economic conditions, AMG remains positive on long term growth prospects for the core markets of solar, fuel economy, nuclear and recycling that it serves. In the near term, however, AMG is taking cost containment steps, delaying non-essential capital projects and focusing on reducing working capital to maximize profitability and free cash flow through the current economic downturn and uncertain global markets. The impact of the current volatile economic situation makes visibility for 2009 difficult at this point; however AMG expects to substantially exceed its full year 2008 EBITDA target of 65% growth over 2007.
   
   
   AMG Advanced Metallurgical Group N.V.
   Interim consolidated balance sheet at 30 September 2008
   In thousands of US Dollars
   30 September 31 December
   2008 2007
   Unaudited Audited
   Property, plant and equipment 297,807 155,763
   Intangible assets 69,863 50,291
   Investments in associates 9,646 15,145
   Derivative financial instruments 176 194
   Deferred tax assets 31,449 34,537
   Restricted cash 17,816 14,582
   Notes receivable 7,397 7,068
   Other assets 10,074 5,087
   Total non-current assets 444,228 282,667
   Inventories 330,997 186,410
   Trade and other receivables 235,055 187,243
   Derivative financial instruments 8,948 3,582
   Prepayments and other current assets 66,197 48,754
   Short term investments - 15,333
   Cash and cash equivalents 154,162 172,558
   Total current assets 795,359 613,880
   Total assets 1,239,587 896,547
   Equity
   Issued capital 724 722
   Share premium 379,325 392,304
   Other reserves (40) (9,923)
   Retained earnings (deficit) (69,007) (137,439)
   Equity attributable to shareholders of the Company 311,002 245,664
   
   Minority interests 67,430 64,133
   
   Total equity 378,432 309,797
   Liabilities
   Loans and borrowin gs 157,296 115,726
   Employee benefits 119,014 102,809
   Provisions 13,356 12,011
   Government grants 2,408 8,585
   Other liabilities 8,780 9,087
   Derivative financial instruments 148 77
   Deferred tax liabilities 57,380 32,112
   Total non-current liabilities 358,382 280,407
   Loans and borrowings 6,481 1,102
   Short-term bank debt 63,147 16,202
   Related party debt 6,873 7,752
   Government grants 8,457 7,927
   Other liabilities 54,264 42,356
   Trade and other payables 186,333 126,827
   Derivative financial instruments 7,182 4,994
   Advance payments 100,312 74,731
   Unearned revenue 37,512 -
   Current taxes payable 15,589 11,496
   Provisions 16,623 12,956
   Total current liabilities 502,773 306,343
   Total liabilities 861,155 586,750
   Total equity and liabilities 1,239,587 896,547
   
   
   
   
   
   AMG Advanced Metallurgical Group N.V.
   Interim consolidated income statement for the nine months ended 30 September 2008
   
   For the nine months ended 30 September
   In thousands of US Dollars 2008 2007
   Unaudited Unaudited
   Continuing operations
   Revenue 1,176,714 838,734
   Cost of sales 922,901 690,968
   Gross profit 253,813 147,766
   
   Selling, general and administrative expenses 116,998 85,306
   Restructuring expense 13,912 51
   Asset impairment expense 3,65 2 -
   Environmental expense 197 244
   Other expenses 46 312
   Other income (4,944) (7,773)
   Operating profit 123,952 69,626
   
   Loss on early extinguishment of debt - 35,069
   Interest expense 15,920 23,929
   Interest income (5,027) (4,983)
   Foreign exchange loss (gain) 3,643 (2,748)
   Net finance costs 14,536 51,267
   
   Share of loss of associates (10,999) (1,963)
   Profit before income tax 98,417 16,396
   
   Income tax expense 36,767 22,854
   Profit (loss) for the period 61,650 (6,458)
   
   Attributable to:
   Shareholders of the Company 68,548 (6,473)
   Minority interests (6,898) 15
   61,650 (6,458)
   
   Earnings per share
   Basic earnings (loss) per share 2.56 (0.24)
   Diluted earnings (loss) per share 2.49 (0.24)
   
   
   
   
   
   
5. [verwijderd] 12 november 2008 08:07

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   AMG Advanced Metallurgical Group N.V.
   Interim consolidated income statement for the three months ended 30 September 2008
   
   For the three months ended 30 September
   In thousands of US Dollars 2008 2007
   Unaudited Unaudited
   Continuing operations
   Revenue 437,561 292,897
   Cost of sales 342,960 243,312
   Gross profit 94,601 49,585
   
   Selling, general and administrative expenses 44,397 31,900
   Restructuring expense 666 21
   Asset impairment expense 3,652 -
   Environmental expense 104 42
   Other expenses - 25
   Other income (1,883) (6,305)
   Operating profit 47,665 23,902
   
   Loss on early extinguishment of debt - 35,069
   Interest expense 6,156 6,003
   Interest income (1,611) (2,954)
   Foreign exchange loss (gain) 2,105 (1,217)
   Net finance costs 6,650 36,901
   
   Share of loss of associates (11,717) (877)
   Profit (loss) before income tax 29,298 (13,876)
   
   Income tax expense 13,974 11,215
   Profit (loss) for the period 15,324 (25,091)
   
   Attributable to:
   Shareholders of the Company 20,769 (25,630)
   Minority interests (5,445) 539
   15,324 (25,091)
   
   Earnings per share
   Basic earnings (loss) per share 0.77 (0.96)
   Diluted earnings (loss) per share 0.75 (0.94)
   
   
   
   
   
   AMG Advanced Metallurgical Group N.V.
   Interim condensed consolidated cash flow statement for the nine months ended 30 September
   
   For the nine months ended 30 September
   In thousands of US Dollars 2008 2007
   Unaudited Unaudited
   Cash flows from operating activities
   Profit (loss) for the period 61,650 (6,458)
   Adjustments to reconcile profit (loss) to net cash flows:
   Non-cash
   Depreciation and amortization 30,884 13,579
   Restructuring expense 13,912 51
   Asset impairment expense 3,652 -
   Environmental expense 197 124
   Net finance costs 14,536 51,267
   Share of loss of associates 10,999 1,96 3
   Equity-settled share-based payment transactions 8,189 2,635
   Income tax expense 36,767 22,854
   Change in working capital (71,376) 17,014
   Other (11,351) (12,488)
   Interest paid, net (4,707) (15,080)
   Income tax paid (17,582) (9,621)
   Cash received from dividends 268 -
   Net cash flows from operating activities 76,038 65,840
   
   Cash flows used in investing activities
   Proceeds from sale of property, plant and equipment 469 730
   Acquisitions of property, plant and equipment and intangibles (95,262) (33,079)
   Acquisitions, net of cash (66,484) (49,321)
   Related party loans (5,848) (26)
   Change in short-term investments 14,884 -
   Change in restricted cash (3,866) -
   Other (2,648) 4,223
   Net cash flows used in investing activities (158,755) (77,473)
   
   Cash flows from financing activities
   Proceeds from issuance of debt 79,951 91,470
   Repayment of borrowings (7,140) (275,083)
   Issuance of shares and related transaction costs - 264,005
   Capital infusion - 106,076
   Other 313 (49)
   Net cash flows from financing activities 73,124 186,419
   
   Net (decrease) increase in cash and cash equivalents (9,593) 174,786
   Cash and cash equivalents at 1 January 172,558 54,610
   Effect of exchange rate fluctuations on cash held (8,803) 14,789
   Cash and cash equival ents at 30 September 154,162 244,185
   
6. [verwijderd] 12 november 2008 08:10

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   Even er tussenuit gehaald:
   
   Outlook
   
   Despite the challenging economic conditions, AMG remains positive on long term growth prospects for the core markets of solar, fuel economy, nuclear and recycling that it serves. In the near term, however, AMG is taking cost containment steps, delaying non-essential capital projects and focusing on reducing working capital to maximize profitability and free cash flow through the current economic downturn and uncertain global markets. The impact of the current volatile economic situation makes visibility for 2009 difficult at this point; however AMG expects to substantially exceed its full year 2008 EBITDA target of 65% growth over 2007.
   
7. [verwijderd] 12 november 2008 08:16

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   Gelukkig nog een bedrijf wat gewoon goed blijft draaien in welke tijd dan ook, AMG heeft de wind mee vooral door de sterk stijgende vraag naar zonne energie.
   
   Verwacht nog niet meteen 50e :), maar dit is wel een aandeel dat als het weer iets normaliseerd de markt ver kan en gaat outperformen.
   
8. [verwijderd] 12 november 2008 08:46

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   En dat op deze belachelijke koers , aandeel is dus gewoon meegesleurd.Dit moet een koersexplosie teweeg gaan brengen vandaag.
   
   gegroet
9. [verwijderd] 12 november 2008 09:05

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   Voorlopig staan we in de min op 14,73
10. [verwijderd] 12 november 2008 09:17

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    Dit aandeel is voor de langere termijn goud waard, maar wat een rare reacties weer vanmorgen. Eerst snel in de plus met een hoog van 15,61, daarna weer naar 14,70 en nu weer licht in de plus op 14,95
    
    Het lijkt wel of de markt geen enkele vertrouwen meer heeft. AMG staat als een rots in de branding en de bezinning komt wel.
11. [verwijderd] 12 november 2008 09:22

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    Fidelity fund is nogsteeds zijn belang aan het afbouwen omdat ze nu eenmaal gedwongen wat moeten verkopen.
    
    Dit soort dagen waar dan verhoogd koop interesse is wordt dan vaak gebruikt om ff snel af te bouwen.
    Boeit ze verder toch niet zo, ze moeten er vanaf, kosten zijn voor de klant, de fee is voor de toko.
    Bonus zit er toch niet meer in na de wanprestatie van 2008 dus snel er uit en over 2009 weer lekker performan en de klant nog meer leeg trekken.
12. [verwijderd] 12 november 2008 10:34

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    AMG derde kwartaal buitengewoon goed - SNS
    12 november 2008, 9:40 uur | FD.nl/DJ
    AMSTERDAM (FD.nl/DJ)--De cijfers van het Advanced Metallurgical Group (AMG) over het derde kwartaal waren buitengewoon goed, zo schrijft analist Reinoud Bicker Caarten van SNS Securities in een reactie op de resultaten. Hij heeft een buy-advies op het aandeel. Omstreeks 09.35 uur noteert het aandeel 1,7% lager op EUR, terwijl de Midkap met 0,4% stijgt. (MAN)
    
    FD.nl/DJ: +31-20-5928456; webredactie@fd.nl
    
13. [verwijderd] 12 november 2008 12:30

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    Een Buyadvies is ook logisch denk ik. Als het voor dit bedrijf niet zou gelden, voor welk bedrijf dan wel?
    
    Gewoon geduld hebben met dit aandeel en het levert een mooi rendement op
    
14. [verwijderd] 12 november 2008 13:40

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    Voor de zittenblijvers in AMG is het weer een teleurstellende dag,Aandeel reageert nauwelijks op de resultaten .Het een en ander zal wel verdisconteerd zitten in de magere koers.Helaas teleurstellend het is niet anders
15. [verwijderd] 12 november 2008 14:18

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    Aan de ene kant ben ik blij dat de cijfers niet als negatief worden beoordeeld en dus het aandeel niet zwaar wordt afgestraft aan de andere kant... hoop je altijd op een stijging. Misschien is er straks als de beurs in Canada open gaat nog iets te verwachten.
16. RRPP 12 november 2008 14:28

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    Morgen of vrijdag valt het kwartje ineens bij de meeste analisten en komen ze met leuke(re) koersdoelen, de markt volgt echt nog wel.
    Vaak zie je na presentatie van goede cijfers pas na enkele dagen dat de koers weer oploopt.
    Ik hoop op dit scenario.
    
    
17. [verwijderd] 12 november 2008 14:29

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    quote:

    ron 2 schreef:

    Voor de zittenblijvers in AMG is het weer een teleurstellende dag,Aandeel reageert nauwelijks op de resultaten .Het een en ander zal wel verdisconteerd zitten in de magere koers.Helaas teleurstellend het is niet anders
    

    Maar Ron, voor de langere termijn zit het wel goed.
    
    Trouwens er is nog heel wat in te halen voor veel beleggers
18. [verwijderd] 12 november 2008 14:54

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    WTF!
19. [verwijderd] 12 november 2008 15:02

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    Jan voorlopig hebben de dumpers de overhand
20. [verwijderd] 12 november 2008 15:13

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    Wat een smurfenaandeel is dit zeg...1 stap naar voren en 2 (of 3) naar achteren...en zo vaak...