Stop parsing PDFs. Get the API. Request Access

AI Terminal

MODULE: AI_ANALYST
Interactive Q&A, Risk Assessment, Summarization
MODULE: DATA_EXTRACT
Excel Export, XBRL Parsing, Table Digitization
MODULE: PEER_COMP
Sector Benchmarking, Sentiment Analysis
SYSTEM ACCESS LOCKED
Authenticate / Register Log In

AMG Critical Materials N.V.

Investor Presentation • Apr 1, 2008

3810_ip_2008-04-01_deaadc21-7b7e-4604-a05f-1c42d72fb614.pdf

Investor Presentation

Open in Viewer

Opens in native device viewer

AMG Advanced Metallurgical Group N.V.

Investor PresentationApril 2008

AMG ADVANCED METALLURGICAL GROUP N.V.

Disclaimer

THIS DOCUMENT IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION BY AMG ADVANCED METALLURGICAL GROUP N.V. (THE "COMPANY") AND MAY NOT BE REPRODUCED IN ANY FORM OR FURTHER DISTRIBUTED TO ANY OTHER PERSON OR PUBLISHED, IN WHOLE OR IN PART, FOR ANY PURPOSE. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS.

This presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries nor should it or any part of it, nor the fact of its distribution, form the basis of, or be relied on in connection with, any contract or commitment whatsoever.

This presentation has been prepared by, and is the sole responsibility of, the Company. This document, any presentation made in conjunction herewith and any accompanying materials are for information only and are not a prospectus, offering circular or admission document. This presentation does not form a part of, and should not be construed as, an offer, invitation or solicitation to subscribe for or purchase, or dispose of any of the securities of the companies mentioned in this presentation. These materials do not constitute an offer of securities for sale in the United States or aninvitation or an offer to the public or form of application to subscribe for securities. Neither this presentation nor anything contained herein shall form the basis of, or be relied on in connection with, any offer or commitment whatsoever. The information contained in this presentation has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy or completeness of the information or the opinions contained herein. The Company and its advisors are under no obligation to update or keep current the information contained in this presentation. To the extent allowed by law, none of the Company or its affiliates, advisors or representatives accept any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation.

Certain statements in this presentation constitute forward-looking statements, including statements regarding the Company's financial position, business strategy, plans and objectives of management for future operations. These statements, which contain the words "believe," "expect," "anticipate," "intends," "estimate," "forecast," "project," "will," "may," "should" and similar expressions, reflect the beliefs and expectations of the management board of directors of the Company and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, the achievement of the anticipated levels of profitability, growth, cost and synergy of the Company's recent acquisitions, the timely development and acceptance of new products, the impact of competitive pricing, the ability to obtain necessary regulatory approvals, and the impact of general business and global economic conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein.

Neither the Company, nor any of its respective agents, employees or advisors intend or have any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in this presentation.

The information and opinions contained in this document are provided as at the date of this presentation and are subject to change without notice.

This document has not been approved by any competent regulatory or supervisory authority.

AMG Presentation Team

AMG at a Glance

Preeminent global specialty materials and materials technology company serving high growth end-markets

Advanced Materials Division: Niche and complex specialty materials

Engineering Systems Division: Advanced vacuum furnace systems for high-purity metals

Timminco (50.5%-owned): Solar grade silicon and lightweight metals

Market and technological leadership across segments

Strong 2007 results: revenue up 24% to \$1,156 million and EBITDA up 65% to \$119 million

Global Operations

Note: This chart is a simplified depiction of AMG's organisational structure.

(1) Timminco Limited is listed on the Toronto stock exchange (TIM CN / TIM.TO).

(2) Graphit Kropfmuehl AG ("GK") is listed on the Frankfurt stock exchange (GKRG.DE / GKR GR). The acquisition of 62.3% of outstanding shares, along with AMG's intention to launch a public tender offer for the remaining shares, was announced 18 March 2008 and is subject to regulatory approval. AMG announced the acquisition of a further 10.8% of GK's shares on 28 March 2008.

Advanced Materials Division

i
M
k
L
d
h
t
a
r
e
e
a
e
r
s
p		 i
i
R
H
h
l
h
t
t
e
c
e
n
g
g
s
1
d
i
N
h
A
i
#
t
p
r
o
c
e
r
n
o
r
m
e
r
c
a

u
f
#
1
l
b
l
d
d

g
o
a
p
r
o
c
e
r
r
o
m
s
e
c
o
n
a
r
u
y
(
f
i.
i
l
t
t
t
s
o
u
r
c
e
s
e.
s
p
e
n
r
e
n
e
r
y
c
a
a
y
s
s
,
Fe
d
iu
rr
ov
an
a
m
)
d
l
i
d
t
a
n
p
o
e
r
p
a
n
r
e
s
e
s
w
u
S
K
i
l
d
N
d
l
t
t

e
y
c
u
s
o
m
e
r
s
n
c
u
e
u
c
o
r
a
n
e
e
D
i
y
n
a
m
c
s		 C
l
i
f
f
i
h
f
C
b
i
d
(
U
S
)
d
i
t
t

o
m
p
e
o
n
o
r
s
p
a
s
e
o
a
m
r
g
e
v
a
n
a
u
m
i
j
i
i
h
h
i
f
4.
0
t,
t
t
t
e
x
p
a
n
s
o
n
p
r
o
e
c
n
c
r
e
a
s
n
g
r
o
u
g
p
u
c
a
p
a
c
y
r
o
m
i
l
l
i
l
b
i
l
l
i
l
b
t
4.
5
m
o
n
s
o
m
o
n
s
S
d
h
i
h
l
i
l
f
l
f
t
t
t
-t
t
t

e
c
u
r
e
g
y
a
r
a
c
v
e
o
n
g
e
r
m
c
o
n
r
a
c
o
r
s
u
p
p
y
o
f
i
l
f
f
d
i
d
i
t
t
t
t
s
p
e
n
r
e
n
e
r
y
c
a
a
y
s
s
o
r
e
r
r
o
v
a
n
a
u
m
p
r
o
u
c
o
n
1
1
8
%
f
d
i
i
i
i
d
d
i
e
r
r
o
a
n
a
m
p
r
c
e
n
c
r
e
a
s
e
s
n
c
e
e
a
r-
e
n
r
e
n

v
u
y
v
S
b
h
A
f
i
l
d
i
i
t
t
o
r
c
a
n
s
p
p
s
r
p
o
n
s
y
u
u
y
u
L
l
b
l
l
i
f
i
l
t
t

a
r
g
e
s
g
o
a
s
u
p
p
e
r
o
s
p
e
c
a
y
l
l
f
h
i
i
i
d
t
t
t
t
a
o
y
s
o
r
e
a
n
u
m
n
u
s
r
y
Sp
ia
l
A
l
lo
ty
O
f
f
f
ec
y
s
i
i
d
l
l
t

n
e
o
a
e
c
e
r
e
a
e
r
o
s
p
a
c
e
a
o
w
y
fo
i
iu
T
ta
r
n
m
d
l
b
l
l
p
r
o
u
c
e
r
s
g
o
a
y
K
i
l
d
A
l
l
h
t

e
y
c
u
s
o
m
e
r
s
n
c
u
e
e
g
e
n
y
T
h
l
i
d
T
i
i
M
l
t
t
e
c
n
o
o
g
e
s
a
n
a
n
m
e
a
s
u		 f
f
A
i
d
i
i
7
5
%
F
N
E,
l
d
i
d

c
q
r
e
r
e
m
a
n
n
g
o
a
e
a
n
g
p
r
o
c
e
r
o
u
u
b
l
f
l
i
i
h
f
h
i
t
t
t
t
t
t
t
r
o
a
a
e
a
r
g
e
s
o
r
a
r
g
e
a
r
e
a
c
o
a
n
g
s
a
o
c
s
o
n
w
u
f
i
l
l
l
i
i
t
m
s
o
a
r
a
p
p
c
a
o
n
s
C
d
i
d
b
l
l
t
t
t

o
m
m
e
n
c
e
e
x
p
a
n
s
o
n
p
r
o
g
r
a
m
m
e
o
o
u
e
a
n
a
u
m
i
i
d
i
i
B
i
l
t
m
n
n
g
p
r
o
c
o
n
n
r
a
u
z
H
d
l
i
l
i
B
i
l
t
t
y
r
o
e
e
c
r
c
p
o
w
e
r
p
a
n
n
r
a
z
−
A
i
i
i
d
i
E
#
1
t
t

n
m
o
n
y
r
o
x
e
n
u
r
o
p
e
–
A
l
i
i
l
l
1
l
b
l
l
t
#

u
m
n
u
m
m
a
s
e
r
a
o
y
s
g
o
a
y
–
Se
le
d
te
c
H
i
h-
i
h
i
l –
1
t
t
#

g
p
r
c
r
o
m
m
m
e
a
u
y
u
O
he
M
ia
ls
t
te
r
a
r
l
b
l
l
g
o
a
y		 S
i
d
i
f
G
h
i
t
t
7
3.
1
%
t

g
n
e
a
g
r
e
e
m
e
n
s
o
a
c
q
u
r
e
o
r
a
p
K
f
h
l
r
o
p
m
u
e
I
i
l
h
b
l
i
d
f
f
f
h
i
i
t
t
t
t
t
n
e
n
o
n
o
a
u
n
c
a
p
u
c
e
n
e
r
o
e
r
o
r
e
r
e
m
a
n
n
g
−
h
s
a
r
e
s

Engineering Systems Division

M
k
L
d
h
i
t
a
r
e
e
a
e
r
s
p		 R
H
i
h
l
i
h
t
t
e
c
e
n
g
g
s
Va
cu
um
Re
l
in
t
m
e
g
Sy
te
s
m
s		 1
d
l
b
l
l
#

p
r
o
u
c
e
r
g
o
a
y
S
f
l
i-
i
d
d
d
t
t
t

r
o
n
g
m
n
s
r
e
m
a
n
o
r
u
u
y
(
i
i
l
l
i
t
t
a
n
m
a
o
s
e.
g.
a
e
r
o
s
p
a
c
e
e
n
g
n
e
u
y
,
d
i
d
i
l
b
i
k
)
t
t
t
a
n
n
s
r
a
g
a
s
r
n
e
m
a
r
e
s
u
u
K
i
l
d
T
h
K
t

e
c
s
o
m
e
r
s
n
c
e
s
s
e
n
r
p
p,
y
u
u
y
u
B
l
d
A
l
l
h
T
h
l
i
t
a
o
s
e
e
a
n
e
g
e
n
y
e
c
n
o
o
g
e
s		 S
d
d
f
l
i
l
i
l
i
d
l
l
i
i
t
t
t
t

r
o
n
g
e
m
a
n
o
r
s
o
a
r
s
c
o
n
m
e
n
g
a
n
c
r
y
s
a
s
a
o
n
f
d
f
i
l
0
%
f
h
t
t
t
5
t
r
n
a
c
e
s
s
e
m
s
a
c
c
o
n
e
o
r
a
p
p
r
o
m
a
e
o
e
u
y
u
x
y
h
i
t
2
0
0
7
y
e
a
r-
o
v
e
r-
y
e
a
r
g
r
o
w
n
\$
R
d
d
b
k
l
f
2
2
i
l
l
i
3
1
D
b
5
t
e
c
o
r
e
a
r-
e
n
a
c
o
g
o
m
o
n
a
e
c
e
m
e
r

y
2
0
0
i
h
b
k
l
d
i
h
l
l
7
t
t
t
t
c
r
r
e
n
a
c
o
g
e
c
e
e
n
g
a
e
e
w
u
x
v
f
N
i
l
i
i
b
h
l
i
d
d
t
t
t
t

e
w
a
c
e
s
r
o
u
g
o
n-
n
e
o
m
e
e
e
m
a
n
So
S
i
ic
la
l
r
on
M
l
in
d
t
e
g
an
Cr
l
l
is
io
ta
t
y
s
a
n
Fu
rn
ac
e
Sy
te
s
m
s		 L
d
i
l
b
l
f
f
l
t

e
a
n
g
g
o
a
m
a
n
u
a
c
u
r
e
r
o
s
o
a
r
i
l
i
l
i
d
l
l
i
i
t
t
t
s
c
o
n
m
e
n
g
a
n
c
r
s
a
s
a
o
n
y
f
t
u
r
n
a
c
e
s
y
s
e
m
s
S
i
i
f
i
d
i
d
d
f
t

g
n
c
a
n
a
n
g
r
o
w
n
g
e
m
a
n
o
r
l
d
i
l
i
s
o
a
r-
g
r
a
e
s
c
o
n
K
i
l
d
R
E
C
d
E
l
k
t

e
y
c
u
s
o
m
e
r
s
n
c
u
e
a
n
e
m		 G
i
d
B
l
i
f
i
l
i
f
d
i
f
l
t
t
e
r
m
a
n
y
:
a
c
q
u
r
e
e
r
n
a
c
y
o
r
p
r
o
u
c
o
n
o
s
o
a
r

f
i
l
i
d
h
i
t
t
s
c
o
n
a
n
o
e
r
u
r
n
a
c
e
s
y
s
e
m
s
r
a
m
p
-u
p
n
p
r
o
g
r
e
s
s
;
M
i
l
d
O
&
O
f
i
l
i
i
d
t
t
t
t
e
x
c
o
:
c
o
m
p
e
e
w
n
p
e
r
a
e
a
c
y
o
n-
m
e
a
n

b
d
t
o
n-
u
g
e
J
i
h
i
h
i
i
i
b
b
l
t
t
t
t
t
t

o
n
v
e
n
u
r
e
p
a
r
n
e
r
s
p
s
r
e
n
g
e
n
s
p
o
s
o
n
n
p
e
e
b
d
l
h
l
t
t
e
n
u
c
e
a
r
r
e
a
c
o
r
p
r
o
c
e
s
s
e
c
n
o
o
g
y
Ow
&
O
te
n
p
er
a		 L
d
i
i
d
f
h
t

e
a
n
g
p
r
o
v
e
r
o
v
a
c
u
u
m
e
a
i
f
O
E
M
i
h
t
t
t
t
r
e
a
m
e
n
s
e
r
v
c
e
s
o
r
s
n
e
i
d
l
i
t
t
t
t
r
a
n
s
p
o
r
a
o
n,
a
e
r
o
s
p
a
c
e
a
n
o
o
n
g
i
d
i
t
n
u
s
r
e
s
G
K
i
l
d
l
M
t
t
e
c
s
o
m
e
r
s
n
c
e
e
n
e
r
a
o
o
r
s,

y
u
u
O
B
M
W
d
V
D
A
i
t
t
a
n
u
o
m
o
v
e		 O
i
R
&
D
i
i
i
i
d
i
i
h
l
i
d
t
t
t
n
g
o
n
g
n
a
e
s
r
n
g
n
e
e
c
n
o
o
g
e
s
a
n

v
v
w
d
h
t
t
p
r
o
u
c
e
n
a
n
c
e
m
e
n
s

Timminco

M
k
L
d
h
i
t
a
r
e
e
a
e
r
s
p		 R
H
i
h
l
i
h
t
t
e
c
e
n
g
g
s
Up
de
d
g
ra
M
l
lu
ic
l
ta
e
rg
a
S
i
ic
l
on		 L
d
i
d
f
h
i
d
l
i
t
e
a
n
g
p
r
o
c
e
r
o
r
e
r
a
p
g
r
o
n
g

u
y
w
l
h
l
i
i
d
t
t
t
s
o
a
r
p
o
o
o
a
c
e
n
e
r
g
n
s
r
v
y
u
y
L
l
i
l
i
d
i
h
t
t

o
w
-c
o
s
s
o
a
r
s
c
o
n
p
r
o
u
c
e
r
w
i
d
i
h
l
t
t
t
p
r
o
p
r
e
a
r
y
p
r
o
u
c
o
n
e
c
n
o
o
g
y
i
h
i
d
9
9.
9
9
9
%
t

p
u
r
y
a
c
e
v
e		 R
i
d
l
i
d
d
f
i
l
i
l
d
l
i
l
i
t

a
p
g
r
o
n
g
e
m
a
n
o
r
s
c
o
n
m
e
a
a
n
s
o
a
r
s
c
o
n
y
w
R
i
i
i
l
b
l
l
s
n
g
e
n
e
r
g
y
p
r
c
e
s
g
o
a
y

S
l
i
l
i
l
h
t
o
a
r
s
c
o
n
s
u
p
p
y
s
o
r
a
g
e
s

M
l
i
l
l
i
t
-t
t
t

u
p
e
o
n
g
e
r
m
c
o
n
r
a
c
w
n
s
M
j
i
h
Q
-C
l
l
l
i
d
t
t
t
t
a
o
r
c
o
n
r
a
c
w
e
s
r
e
c
e
n
y
s
g
n
e

C
i
l
d-
i
i
t
t
t
t
t
t
t
u
r
r
e
n
c
a
p
a
c
y
s
o
o
u
a
a
r
a
c
v
e
p
r
c
e
s
S
i
l
ic
M
l
ta
on
e		 i
d
d
d
i
N
h
#
2
t
t

n
e
p
e
n
e
n
p
r
o
u
c
e
r
n
o
r
C
A
i
d
#
1
i
d
m
e
r
c
a
a
n
n
a
n
a
a
S
f
l
i
l
d
i
i
t
t

p
p
e
r
o
e
a
n
g
m
a
n
a
c
r
e
r
s
n
u
u
u
h
h
i
l
l
i
i
d
t
e
c
e
m
c
a
s,
a
m
n
m
a
n
u
u
l
i
l
i
i
d
i
i
l
d
i
A
l
t
p
o
s
c
o
n
n
s
r
e
s
n
c
n
g
c
o
a,
y
u
u
C
R
i
T
i
A
l
d
W
k
h
i
t
o
n
o
c
a
n
a
n
a
c
e
r
e
m
e		 C
f
f
f
l
d
i
i
l
i
l
i
i
l
i
i
t
t
t
t
t

o
m
p
e
e
c
o
n
s
r
u
c
o
n
o
r
s
s
o
a
r
s
c
o
n
a
c
y
n
é
C
B
d
c
a
n
c
o
u
r,
a
n
a
a
f
F
i
h
l
i
d
i
i
D
b
t
t
t
r
s
o
r
e
e
n
e
s
c
o
m
m
e
n
c
e
o
p
e
r
a
o
n
n
e
c
e
m
e
r

2
0
0
7
A
d
d
i
i
l
l
i
d
i
F
b
2
0
0
8
t
t
t
t
o
n
a
o
n
e
s
s
a
r
e
p
n
e
r
a
r
w
u
u
y

f
P
d
i
d
h
i
l
l
3
0
0
t
t
t
t
r
o
u
c
o
n
e
x
p
e
c
e
o
r
e
a
c
c
a
p
a
c
y
e
v
e
o
M
iu
ag
ne
s
m		 1
d
f
i
d
#
t

p
r
o
u
c
e
r
o
m
a
g
n
e
s
u
m
a
n
o
e
s
o
h
N
h
A
i
h
t
t
t
t
e
o
r
m
e
r
c
a
n
w
a
e
r
e
a
e
r
i
d
t
n
u
s
r
y
L
d
i
d
f
i
l
t

e
a
n
g
p
r
o
u
c
e
r
o
s
p
e
c
a
y
i
d
f
h
t
t
m
a
g
n
e
s
u
m
p
r
o
u
c
s
o
r
e
c
o
n
s
u
m
e
r
d
h
i
l
d
t
p
r
o
u
c
s,
c
e
m
c
a
s
a
n
h
i
l
i
d
i
t
t
p
a
r
m
a
c
e
u
c
a
n
u
s
r
e
s		 /
h
i
Q
t
t
3
2
0
0
8
o
n
n
e
s
m
o
n
n
A
d
h
d
l
i
f
l
i
l
i
i
t
t
t
n
n
o
n
c
e
e
q
a
r
p
n
g
o
s
o
a
r
s
c
o
n
c
a
p
a
c
o
u
u
u
y

1
4,
4
0
0
t
o
n
n
e
s
\$
f
f
f
R
i
d
d
1
0
8
i
l
l
i
i
i
i
t
t

a
s
e
n
e
p
r
o
c
e
e
s
o
m
o
n
r
o
m
e
q
n
a
n
c
n
g
s
u
y
i
2
0
0
7
n

CONFIDENTIAL

Investment Highlights

Focus on CO2Technologies and Markets

Solar

  • Furnace technology leadership for the production of high-purity solar wafers
  • Low-cost producer of solar silicon based on proprietary technology
  • New Timminco solar silicon facility is producing and shipping
  • Significant producer of silicon metal sold to polysilicon producers

Nuclear

  • Sintering furnaces for nuclear fuel
  • Furnaces and process technology for pebble bed reactors
  • Graphite production from GK acquisition is a critical input for nuclear components
  • JV in France for the production of nuclear fuel sintering and related furnaces

Fuel Economy

  • Proprietary alloys and superalloys for aerospace applications
  • Furnace technology for production of titanium and other weight-advantaged metals

Recycling

  • Spent refinery catalyst and power plant residue recovery for production of ferrovanadium and ferronickel-molybdenum
  • Capacity expansion in progress
  • New long-term contract for spent catalysts supports capacity expansion plans

Graphit Kropfmuehl Acquisition Highlights

O
i
v
e
r
v
e
w		 A
i
f
G
h
i
K
f
h
l
A
G
(
"G
K
")
f
j
i
h
h
l
d
f
6
2.
3
%
t
t
t
t

g
r
e
e
m
e
n
o
a
c
q
r
e
o
r
a
p
r
o
p
m
e
r
o
m
m
a
o
r
s
a
r
e
o
e
r
s
o
r
u
u
y
i
d
i
f
€
i
l
l
i
t
3
2.
7
c
o
n
s
e
r
a
o
n
o
m
o
n
A
d
d
i
i
l
h
f
1
0.
8
%
f
h
t
o
n
a
p
u
r
c
a
s
e
o
o
s
a
r
e
s
−
I
i
l
h
b
l
i
d
f
f
f
i
i
h
l
l
b
i
t
t
t
t
t
t
n
e
n
o
n
o
a
u
n
c
p
u
c
e
n
e
r
o
e
r
o
r
r
e
m
a
n
n
g
s
a
r
e
s
o
n
c
e
r
e
g
u
a
o
r
y
a
p
p
r
o
v
a
s
o
a
n
e
−
G
K
i
l
d
i
d
f
h
i
h-
d
l
h
i
(
f
l
)
d
h
l
G
3
6
%
t
t
t

s
a
e
a
n
g
p
r
o
c
e
r
o
g
g
r
a
e
n
a
r
a
g
r
a
p
e
o
s
a
e
s
a
n
e
o
n
e
r
m
a
n
u
u
y
(
)
d
f
i
l
i
l
6
4
%
f
l
t
p
r
o
u
c
e
r
o
s
c
o
n
m
e
a
o
s
a
e
s
G
C
C
S
P
d
i
i
i
U
K
d
h
h
R
b
l
i
i
i
h
i
d
i
L
k
t
t
t

r
o
u
c
o
n
s
e
s
n
e
r
m
a
n
y,
a
n
e
z
e
c
e
p
u
c
;
m
n
e
s
n
n
a
a
n
r
a
n
a
L
i
d
F
k
f
k
h
(
"G
K
R
G
D
E
/
G
K
R
G
R
")
t
t
t

s
e
o
n
r
a
n
u
r
s
o
c
e
x
c
a
n
g
e
d
E
B
I
T
D
A
f
€
i
l
l
i
d
€
i
l
i
i
l
2
0
0
7
8
3.
1
7.
9
t

r
e
e
n
e
a
n
o
m
o
n
a
n
m
o
n,
r
e
s
p
e
c
e
v
u
v
y
R
i
l
t
a
o
n
a
e
d
a
n
B
f
i
t
e
n
e
s		 S
i
l
i
l
b
i
h
i
l
l
i
i
d
i
h
l
t
t
t
t
t
t
t

c
o
n
m
e
a
s
n
e
s
s
s
p
p
o
r
s
g
r
o
n
s
o
a
r
a
p
p
c
a
o
n
s
a
n
m
p
r
o
e
s
a
c
c
e
s
s
o
e
a
r
g
e
s
u
u
w
v
l
k
i
E
t
s
o
a
r
m
a
r
e
n
u
r
o
p
e
N
l
h
i
d
d
i
l
l
b
i
l
i
i
i
h
i
i
f
i
k
i
i
i
t
t
t
t
t
t
t
t
t
t
t

a
u
r
a
g
r
a
p
e
a
s
o
s
p
e
c
a
y
m
e
a
s
c
a
p
a
e
s
w
s
g
n
c
a
n
m
a
r
e
o
p
p
o
r
u
n
e
s
n
l
l
i
i
t
n
u
c
e
a
r
a
p
p
c
a
o
n
s
B
i
l
d
i
i
d
d
h
l
f
l
i
f
l
i
d
t
t
t
t
t

u
s
o
n
e
x
s
n
g
p
r
o
u
c
a
n
e
c
n
o
o
g
y
p
o
r
o
o
o
r
n
u
c
e
a
r
n
u
s
r
y
A
i
i
i
2
0
0
8
i
h
b
i
l
i
i
i
t
t
t
t
t
t
t-
t
t

c
c
r
e
v
e
o
e
a
r
n
n
g
s
n
w
s
u
s
a
n
a
a
c
c
r
e
o
n
p
o
s
n
e
g
r
a
o
n

Share Price Development

CONFIDENTIAL

Record Results in 2007

(1) Excludes restructuring expenses, asset impairment expenses, non-recurring environmental expenses and non-recurring pension curtailment gains, as well as debt extinguishment expense. Percentages represent EBITDA margins.

Advanced Materials Division

Engineering Systems Division

Timminco

Capital Programmes and Recent Acquisitions Support Strategic Growth Initiatives

Current Capital Programmes

Pr
du
t
o
c		 Am
t
ou
n		 Pu
rp
os
e		 T
im
in
g
Fe
d
iu
rro
va
na
m		 \$
3
0m		 Se
d
ha
f e
io
b
le
do
b
l
ing
f s
ly
ing
to
t c
ta
t p
co
n
p
se
o
xp
an
s
n
e
na
o
p
en
a
s
ro
ce
ss
u
b
i
l
i
ies
t
ca
p
a		 2
0
0
8–
2
0
0
9
(
1)
S
i
l
ico
n		 \$
6
5m		 Fu
he
io
f
T
im
inc
's
h
ig
h-
i
la
i
l
ico
l
fa
i
l
i
t
ty
ta
ty
to
1
4,
4
0
0
r
r e
xp
an
s
n
o
m
o
p
ur
so
r s
n
m
e
c
to
nn
es		 2
0
0
8
Sp
ia
l
A
l
loy
fo
ty
ec
s
r
Su
T
i
iu
d
l
loy
ta
n
m
a
n
p
er
a
s		 \$
5m		 Ne
fu
fo
du
io
io
t
w
rn
ac
e
r p
ro
c
n
ex
p
an
s
n		 2
0
0
8
Ta
lu
ta
n
m		 \$
7m		 f
Ex
io
l
i
ine
d
hy
dr
lec
ic
la
in
Br
i
l
ta
ta
te
tr
t
p
an
s
n
o
n
m
a
n
o-
e
p
ow
er
p
n
az		 2
0
0
8
Co
P
las
ing
t
m
a
a
s		 \$
6m		 Ex
io
in
ing
du
to
t
ts
p
an
s
n
n
ew
c
oa
p
ro
c		 2
0
0
8
Ca
M
in
te
a
na
nc
e
p
ex		 \$
\$
8–
1
0m		 f
fa
M
in
i
l
i
ies
d
ip
te
t
t
a
na
nc
e
o
c
a
n
eq
u
m
en		 An
l
ba
is
nu
a
s

Pending Acquisitions

Co
/
m
p
an
y
Pr
du
Ar
t
o
c
ea		 Am
t
ou
n		 Pu
rp
os
e		 T
im
in
g
(
2)
G
h
i
Kr
fm
h
l
t
ra
p
op
ue		 \$
8
2m		 Su
h
in
la
d
lea
l
ica
io
d
im
ts
t
t
to
p
p
or
g
ro
so
r a
n
nu
c
r a
p
p
ns
a
n
p
ro
ve
s
ac
ce
ss
w
Eu
ke
ts
ro
p
ea
n
m
ar		 2
0
0
8
Co
ing
t
a
s		 \$
8m		 Ex
io
in
ing
du
h
ic
h
du
f
fe
ing
t
ts
t c
t p
t o
p
an
s
n
co
a
s
p
ro
c
au
g
m
en
ur
re
n
ro
c
r
w		 2
0
0
8

In addition to the pending acquisitions, the Company is in the evaluation / discussion phase with third parties on major solar projects and investments

(1) Funded by capital raise at Timminco.

(2) GK is listed on the Frankfurt stock exchange (GKRG.DE / GKR GR). The acquisition of 62.3% was announced 18 March 2008 and is subject to regulatory approval. The acquisition of a further 10.8% of shares was announced on 28 March 2008. The Company intends to launch a tender offer for the remaining 26.9% of shares outstanding. \$82 million reflects the estimated purchase price of 100% of shares outstanding.

Capital Structure and Financial Flexibility

C
i
l
S
t
t
t
a
p
a
r
u
c
u
r
e





























)*
'

"


#
\$
%
&
\$
(

!

#
#		 )

*
)*

'


\$#

\$

,
(



!


#
+


 )
*
"


-
.
/
#
+

%
0
&
%
1


-
 %
0		 %

&
/
+


-
+
#		 %

0
%
&
) *
'
(

-		 %
0
&
%



!
!
"

2
#
3



 &

%

#
\$
\$
%
()



#
&'
 !
*



(
(#

(,
+
!


)*



3


-




#

#
"


-


(&'
(
()
f \$
(
1)
Ba
sed
20
07
EB
ITD
A o
119
.4
mi
llio
on
n.
(
2)
Pro
fo
a f
62
.3%
isit
ion
of
G
K f
€3
2.7
illio
rm
or
ac
qu
or
m
n a
18
Ma
rch
20
08
on		 xch
t a
n e
an
ge		 \$1
of
9 /
€1
te
.57
ra		 .00
(
3)
Th
e C
inte
nds
la
ch
de
ffe
r fo
r th
e 3
to
a t
om
pa
ny
un
en
r o
alr
dy
d).
ea
ag
ree		 7.7
%
of
ain
rem		 ing
sh
uts
tan
are
s o		 din
(
10
.8%
g
(
4)
GK
de
bt
of
the
lat
blic
fil
ing
n 3
0 S
be
r 2
00
d a
ha
of
est
tem
7 c
rte
t a
ot
ate
as
pu
s o
ep
on
ve
sp
exc
ng
e r
\$1
.42
2 /
€1
.00
\$8
(
5)
Av
aila
bili
of
3.6
illio
dra
itte
ty
ts
m
n r
ep
res
en
un
wn
co
mm		 d b
ing
fa
orr
ow		 cili
tie
s.
F
i
i
l
H
i
h
l
i
h
t
n
a
n
c
a
g
g
s
\$
A
i
l
b
l
h
f
i
l
l
i
f
f
h
9
1
t

v
a
a
e
c
a
s
o
m
o
n
p
r
o
o
r
m
a
o
r
e
G
i
i
i
f
K
t
a
c
q
s
o
n
o
u
\$
f
I
l
d
2
0
i
l
l
i
T
i
i
h
n
c
e
s
m
o
n
o
m
m
n
c
o
c
a
s
u
−
\$
A
i
l
b
l
l
i
i
d
i
f
i
l
l
i
1
7
5
t

v
a
a
e
q
u
y
o
m
o
n
\$
\$
R
l
f
i
l
l
i
b
i
l
l
i
d
1
7
5
t
9
1
t
e
v
o
v
e
r
o
m
o
n
u
m
o
n
u
s
e
o
−
S
i
d
f
h
E
i
i
t
t
t
p
r
o
e
g
a
r
a
n
e
e
s
o
r
e
n
g
n
e
e
r
n
g
s
e
m
s
v
u
y
D
i
i
i
v
s
o
n
A
b
i
l
i
i
d
d
b
d
h
d
d
t
t
t
t

y
o
r
a
s
e
u
n
s
e
c
u
r
e
e
u
n
e
r
e
a
m
e
n
e
d
i
t
t
c
r
e
a
g
r
e
e
m
e
n
C
i
f
i
i
l
t
t
t

o
n
s
e
r
v
a
v
e
n
a
n
c
a
s
r
a
e
g
y
M
i
i
i
i
l
i
i
i
l
i
i
h
t
t
t
t
t
a
n
a
n
c
o
n
s
e
r
v
a
v
e
c
a
p
a
s
a
o
n
n
n
e
w
o
r
−
b
h
t
t
t
e
e
r
a
n
p
e
e
r
s
R
i
l
l
i
i
d
i
h
h
h
b
l
d
t
t
t
e
a
n
a
m
p
e
q
r
o
g
c
a
s
a
a
n
c
e
a
n
u
y
u
−
l
r
e
v
o
v
e
r
E
l
i
i
d
i
f
i
t
t
n
s
r
e
q
o
r
o
p
e
r
a
o
n
s
u
u
y
R
i
k
l
i
i
t
t
t
t
e
a
c
q
c
o
o
p
p
o
r
n
e
s
u
y
u
U
i
i
d
f
d
i
i
i
i
i
t
t
t
t
t
t
s
e
e
q
u
y
a
s
r
e
q
u
r
e
o
u
n
s
r
a
e
g
c
n
a
v
e
s
R
i
i
d
i
i
d
d
l
d
t
e
n
v
e
s
e
a
r
n
n
g
s
n
o
v
e
n
p
a
n
n
e
–

Robust Outlook

A
d
d
v
a
n
c
e
M
i
l
t
a
e
r
a
s		 F
d
i
i
h
d
h
l
i
2
0
0
8
d
i
i
i
l
S
h
A
f
i
t
t
t
t

e
r
r
o
v
a
n
a
u
m
p
r
c
e
s
a
v
e
m
o
v
e
u
p
s
a
r
p
y
n
y
e
a
r-
o-
a
e,
o
w
n
g
p
r
m
a
r
y
o
o
u
r
c
a
n
d
i
i
t
s
r
u
p
o
n
s
F
d
i
d
f
i
k
l-
l
b
d
d
i
d
i
1
%
i
2
0
0
8
d
t
t
t
5
t

e
r
r
o
v
a
n
a
u
m
a
n
e
r
r
o
n
c
e
m
o
y
e
n
u
m
p
r
o
u
c
o
n
e
x
p
e
c
e
o
n
c
r
e
a
s
e
n
u
e
o
f
h
l
l
d
h
i
t
t
t
e
r
e
c
e
n
y
c
o
m
p
e
e
p
a
s
e
o
e
x
p
a
n
s
o
n
T
l
i
i
i
i
l
i
d
i
i
d
i
l
l
t
t
t
t
t
t
t

a
n
a
u
m
p
r
c
n
g
n
c
r
e
a
s
n
g
y
a
r
a
c
v
e
p
r
o
u
c
o
n
s
e
x
p
e
c
e
o
n
c
r
e
a
s
e
a
s
w
e
–
G
f
f
K
i
i
i
i
l
l
i
b
l
i
d
l
d
i
l
l
b
i
i
i
h
i
i
b
i
t
t
t
t
t
t

a
c
q
u
s
o
n
w
c
o
n
r
u
e
s
o
y
a
n
w
e
n
e
r
o
m
s
y
n
e
r
g
e
s
w
e
x
s
n
g
u
s
n
e
s
s
e
s
E
i
i
n
g
n
e
e
r
n
S
t
y
s
e
m
s		 B
k
l
d
d
l
l
i
h
b
k
l
d
i
h
l
l
t
t
t
t
t

a
c
o
g
a
r
e
c
o
r
e
a
r-
e
n
e
e
c
r
r
e
n
a
c
o
g
e
c
e
e
n
g
a
e
e
y
v
w
u
x
v
B
l
i
f
i
l
i
i
i
i
h
h
d
f
d
l
i
i
t
t
t
t

e
r
n
a
c
a
c
q
s
o
n
a
s
s
o
r
e
n
e
r
n
a
c
e
e
e
r
m
e
s
y
u
u
v
y
E
l
i
j
b
i
l
d
i
h
l
l
h
i
t
t
t
t

v
a
u
a
n
g
p
r
o
e
c
s
o
e
c
o
m
e
m
o
r
e
n
v
o
v
e
n
e
s
o
a
r
v
a
u
e
c
a
n
g
G
P
i
i
h
i
d
d
b
d
d
d
A
M
's
h
l
i
l
l
d
h
i
t
t
t
t

r
c
n
g
a
s
r
e
m
a
n
e
s
r
o
n
g
u
e
o
r
o
u
s
e
m
a
n
a
n
e
c
n
o
o
g
c
a
e
a
e
r
s
p
O
O
&
b
i
i
d
i
l
t
t

w
n
p
e
r
a
e
u
s
n
e
s
s
g
r
o
w
n
g
s
e
a
y
f
F
l
l
M
i
d
i
t
u
y
e
a
r
o
e
x
c
o
p
r
o
u
c
o
n

C
C
i
d
i
h
l
i
i
l
d
i
h
i
t
t
o
n
s
e
r
n
g
o
e
r
o
c
a
o
n
s,
n
c
n
g
n
a
u
i
i
T
m
m
n
c
o		 S
l
i
l
i
i
i
i
t

o
a
r
s
c
o
n
e
x
p
a
n
s
o
n
c
o
n
n
u
n
g
Q
d
l
i
f
i
h
d
f
l
l
f
d
d
d
d
b
i
l
i
h
t
t
t
t
t
u
a
r
u
p
n
g
o
c
a
p
a
c
y
a
s
c
o
m
m
e
n
c
e
u
y
u
n
e
a
n
e
x
p
e
c
e
o
e
o
p
e
r
a
o
n
a
n
e
–

d
h
l
f
f
2
0
0
9
s
e
c
o
n
a
o
M
l
i
l
i
i
d
t
t
t
t
t
u
p
e
c
o
n
r
a
c
n
e
g
o
a
o
n
s
a
r
e
u
n
e
r
w
a
y

S
f
f
i
l
i
l
i
i
i
i
l
2
0
0
8
t
t

c
o
n
m
e
a
p
r
c
e
s
p
s
g
n
c
a
n
o
r
u
y

CONFIDENTIAL

Safeguard – Overview and Update

  • Safeguard International Fund, L.P. is the largest shareholder of AMG
  • 7.1 million shares representing 26.6% as of 31/12/07
  • Safeguard was founded as a private equity fund in 1997
  • Original life was to be 8 years
  • Recently received third one-year extension to 31/3/09 Safeguard is expected to wind down prior to that date by liquidating its investments or distributing them to its limited partners
  • Dr. Heinz Schimmelbusch and Arthur Spector are managing directors of Safeguard
  • Safeguard's investments other than AMG are:
  • Timminco Limited (deeply in-the-money convertible notes representing ~17.4 million new Timminco shares)
  • Puralube, Inc. (27.5%)
  • PFW Aerospace AG (100%)

Timminco Limited

C
o
m
p
a
n
y		 T
i
i
L
i
i
d
t
m
m
n
c
o
m
e
(
1
)
M
k
i
l
i
i
t
t
t
a
r
e
c
a
p
a
s
a
o
n		 \$
\$
C
2
8
4
i
l
l
i
(
2,
9
6
i
l
l
i
)
7
7
m
o
n
m
o
n
,
D
i
l
d
h
t
e
s
a
r
e
s
u		 1
1
8
i
l
l
i
m
o
n
(
1
)
S
h
i
a
r
e
p
r
c
e		 \$
C
2
4.
1
6
(
1
)
5
2-
k
h
i
h
/
l
w
e
e
g
o
w		 \$
\$
C
2
4
9
(
2
/
3
/
0
8
)
/
C
0.
6
(
2
/
4
/
0
)
7.
7
5
7
i
A
3-
h
d
l
l
t
g
m
o
n
a
o
m
e
v
y
v
u		 2
7
7
8,
8
9
0
h
s
a
r
e
s
,
L
i
i
l
i
t
t
s
n
g
o
c
a
o
n		 T
k
h
t
t
o
r
o
n
o
s
o
c
e
c
a
n
g
e
x
S
b
l
y
m
o		 C
B
l
b
T
I
M
N
o
o
m
e
r
g
:
R
T
I
M
T
O
t
e
u
e
r
s
:

(1) As of 28/3/08.

CONFIDENTIAL

Graphit Kropfmuehl AG

C
o
m
p
a
n
y		 G
G
h
i
K
f
h
l
A
t
r
a
p
r
o
p
m
u
e
(
1
)
M
k
i
l
i
i
t
t
t
a
r
e
c
a
p
a
s
a
o
n		 \$
€
i
l
l
i
(
i
l
l
i
)
5
2
8
2
m
o
n
m
o
n
D
i
l
d
h
t
u
e
s
a
r
e
s		 3
i
l
l
i
m
o
n
(
1
)
S
h
i
a
r
e
p
r
c
e		 €
1
8.
0
9
(
)
1
i
/
5
2-
k
h
h
l
e
e
g
o
w
w		 (
/
/
)
/
(
/
/
)
€
1
8.
2
5
2
7
3
0
8
€
1
1.
0
4
1
7
3
0
8
A
3-
h
d
i
l
l
t
v
g
m
o
n
a
y
v
o
u
m
e		 h
4
2
4
7
s
a
r
e
s
,
i
i
i
L
l
t
t
s
n
g
o
c
a
o
n		 f
F
k
k
h
t
t
r
a
n
u
r
s
o
c
e
x
c
a
n
g
e
S
b
l
y
m
o		 B
l
b
G
K
R
G
R
o
o
m
e
r
g
:
R
G
K
R
G
D
E
t
e
e
r
s
u
:

(1) As of 28/3/08.

EBITDA Overview

EBITDA Reconciliation

(
\$
ns)
in m
illio
20
0
6		 20
07
Op
ing
f
it
t
era
p
ro		 \$
3
8.
1		 \$
8
4.2
De
iat
ion
/ a
isa
ion
rt
t
+
p
rec
mo		 18
.5		 18
.7
/ -
F
X
inc
(
los
)
+
om
e
s		 0.
4		 3.
6
Re
ing
d
im
irm
str
tur
t
+
uc
an
p
a
en		 19
.3		 (
)
0.
2
En
iro
l
ta
+
nm
en
v		 11
.1		 2.1
Pe
ion
i
lm
rta
t
ns
cu
en
-		 (
)
15
.1		 –
St
k o
t
ion
+
oc
p
ex
p
en
se		 – 4.2
Ot
he
isc
l
lan
ing
+
r m
e
eo
us
no
n-r
ec
urr		 6.
8
E
B
I
T
D
A		 \$
72
.3		 \$
11
9.
4

Note: Timminco amounts include minority interest of 49.4%.

Capital Expenditure Overview

  • Timminco's solar silicon plant and expansion expenditures are expected to be \$65 million in 2008 and have been pre-financed by \$108 million of net equity capital raised
  • Berlin expansion has been financed by the cash received by Engineering Systems in connection with the Berlin facility acquisition

Major Capital Projects – 2006 and 2007 Project 2006 2007Solar silicon plant and expansion \$1.3 \$22.6Ferrovanadium spent catalyst recycling facility 1.6 2.9Ferrovanandium furnace overhaul – 2.0Mexico Own & Operate – 5.5Berlin facility expansion – 1.7Hydro-electric powerplant expansion in Brazil – 1.8Tantalum mine expansion – 0.8(\$ in millions)

Working Capital Overview

Consolidated Income Statement

(
\$ in
)
tho
nds
usa		 YE
AR		 EC
E
ND
ED
31
D
EM
BE		 R
20
05		 20
06		 20
07
Co
nti
ing
tio
nu
op
era
ns
Re
ve
nu
e		 \$
90
6,
71
1		 \$
93
2,
72
7		 \$
1,
15
5,
65
9
Co
of
st
les
sa		 72
8,
83
4		 78
2,
12
2		 95
4,
22
9
Gr
rof
it
os
s p		 \$
17
87
7,
7		 \$
15
0,
60
5		 \$
20
1,
43
0
Se
llin
ral
d a
dm
inis
tiv
tra
g,
ge
ne
an
e e
xp
en
se
s		 10
0,
09
5		 97
23
6
,		 12
3,
41
3
Re
ing
d a
im
irm
str
tur
et
t e
uc
an
ss
pa
en
xp
en
se		 20
96
1
,		 19
34
1
,		 (
1)
24
En
vir
l E
nta
on
me
xp
en
se
s		 19
9		 11
04
4
,		 2,
10
7
Ot
he
r e
xp
en
se
s		 2,
98
8		 1,
32
4		 1,
85
5
Pe
ion
C
ail
Ga
in
urt
nt
ns
me		 – (
15
15
9)
,		 –
Ot
he
r in
co
me		 (
6,
41
3)		 (
1,
26
4)		 (
9,
87
3)
Op
tin
rof
it
era
g p		 \$
60
04
7
,		 \$
38
08
3
,		 \$
84
16
9
,
of
Lo
tin
ish
nt
de
bt
ss
on
ex
gu
me		 10
23
4
,		 - 34
66
8
,
Int
st
ere
ex
pe
ns
e		 33
20
7
,		 36
55
9
,		 28
02
3
,
Int
st
Inc
ere
om
e		 (
8)
3,
96		 (
2)
3,
10		 (
4)
6,
95
Fo
rei
ch
in
gn
ex
an
ge
ga		 – (
2)
44		 (
1)
3,
59
Ne
t fi
ts
na
nc
e c
os		 \$
39
47
3
,		 \$
33
01
5
,		 \$
52
14
6
,
Sh
of
ofi
f a
iat
t o
are
pr
ss
oc
es		 44
7		 (
2)
2,
37		 (
3)
3,
21
Pr
ofi
t b
efo
inc
e t
re
om
ax		 \$
21
02
1
,		 \$
2,
69
6		 \$
28
81
0
,
Go
od
wil
l a
dju
lat
ing
de
fer
red
stm
t re
to
ta
et
en
x a
ss		 – – 1,
38
6
Inc
e t
om
ax
ex
pe
ns
e		 16
33
2
,		 8,
38
3		 19
32
2
,
Pr
ofi
t fo
he
r t
ye
ar		 \$
4,
68
9		 (
\$
7)
5,
68		 \$
8,
10
2
At
tri
bu
tab
le
to
:
Sh
ho
lde
of
the
C
are
rs
om
pa
ny		 16
87
4
,		 4,
50
7		 11
70
4
,
Mi
rity
in
ter
ts
no
es		 (
5)
12
18
,		 (
4)
10
19
,		 (
2)
3,
60
Ea
ing
sh
rn
s p
er
are
Ba
sic
rni
sh
ea
ng
s p
er
are		 – \$
0.1
7		 \$
0.4
4
Dil
d e
ing
sh
ute
arn
s p
er
are		 – \$
0.1
7		 \$
0.4
3

Consolidated Balance Sheet

5
200
200
6
200
7
Ass
ets
Pro
plan
d e
qui
\$10
\$10
\$15
ty,
t an
nt
5,7
92
1,25
6
5,7
63
per
pme
Inta
ngib
le a
42,
367
44
,898
50
,29
1
ts
sse
Inve
s in
ocia
11,7
34
13
,303
15
,145
stm
ent
tes
ass
Der
ivat
ive
fina
ncia
l ins
194
trum
ent
s
–
–
Def
d ta
16,6
39
21
,73
1
34
,537
sets
erre
x as
Oth
ts
4,5
96
4,9
81
12
,155
er a
sse
\$18
\$18
\$26
Tot
al n
t as
set
1,12
8
6,1
69
8,0
85
on-
cur
ren
s
Inve
ries
153
,332
159
,65
1
186
,410
nto
Tra
de
and
oth
ivab
les
128
,010
140
,976
187
,243
er r
ece
Der
ivat
ive
fina
ncia
l ins
1,89
6
2,4
48
3,5
82
trum
ent
s
Pre
31,
221
26
,784
48
,754
ts
pay
men
Sho
rt te
inve
stm
ent
15
,333
rm
s
–
–
Res
trict
ed
h
14
,582
cas
–
–
Cas
h an
d ca
sh e
quiv
ale
nts
50,
317
54
,610
172
,558
Tot
al c
\$36
4,7
76
\$38
4,4
69
\$62
8,4
62
nt a
ts
urre
sse
\$54
\$57
\$89
Tot
al a
5,9
04
0,6
38
6,5
47
ts
sse
Equ
ity
Issu
ed
ital
59
722
cap
–
Sha
ium
129
,13
1
129
,986
392
,304
re p
rem
Oth
(3,5
93)
(15
)
(9,
)
,313
923
er r
ese
rves
(15
47)
(14
40)
(13
39)
Ret
aine
d e
ings
3,3
8,8
7,4
arn
(\$2
(\$3
\$24
Equ
ity
ibu
tab
le t
har
eho
lde
f th
e C
7,8
09)
4,1
08)
5,6
64
attr
o s
rs o
om
pan
y
\$18
\$10
\$64
Min
orit
y in
tere
sts
,984
,367
,133
(\$8
(\$2
\$30
Tot
al e
qui
,825
)
3,7
41)
9,7
97
ty
Lia
bili
ties
Loa
nd
bor
ings
199
,280
185
,386
115
,726
ns a
row
Rel
ate
d p
arty
de
bt
3,8
81
72
1
-
efits
Em
ploy
ben
105
,485
94
,245
102
,809
ee
Pro
visi
14,4
91
9,9
88
12
,01
1
ons
Gov
8,5
85
t gr
ant
ern
men
s
–
–
Oth
er l
iabi
litie
8,0
31
5,4
26
9,0
87
s
Der
ivat
ive
fina
ncia
l ins
77
trum
ent
s
–
–
Def
d ta
x lia
bilit
ies
10,5
62
12
,989
32
,112
erre
\$34
\$30
\$28
Tot
al n
t lia
bili
ties
1,73
0
8,7
55
0,4
07
on-
cur
ren
Loa
nd
bor
ings
7,7
79
22
,659
1,1
02
ns a
row
Sho
ban
k de
bt
rt-te
41,
749
53
,180
16
,202
rm
Rel
d p
de
bt
5,4
14
,815
52
ate
arty
57
7,7
Gov
7,9
27
t gr
ant
ern
men
s
–
–
Oth
er l
iabi
litie
40,
095
42
,753
42
,356
s
Tra
de
and
oth
bles
78,
414
93
,84
1
126
,827
er p
aya
Der
ivat
ive
fina
ncia
l ins
trum
ent
1,95
0
1,3
03
4,9
94
s
Adv
ent
18,9
52
29
,739
74
,73
1
anc
e p
aym
s
Cur
t ta
yab
le
7,7
16
13
,126
11
,496
ren
xes
pa
Pro
visi
10,8
87
14
,208
12
,956
ons
\$21
\$28
\$30
Tot
al c
nt l
iab
iliti
2,9
99
5,6
24
6,3
43
urre
es
\$55
\$59
\$58
Tot
al l
iab
iliti
4,7
29
4,3
79
6,7
50
es
\$54
\$57
\$89
Tot
al e
qui
ty a
nd
liab
iliti
5,9
04
0,6
38
6,5
47
es		 (\$ in
tho
ds)
YEA
R E
ND
ED
31
DEC
EM
BER
usan

Consolidated Cash Flow Statement

(\$ i
n th
and
s)
ous		 EC
YE
AR
EN
DE
D 3
1 D
EM
BE
R
200
5		 200
6		 200
7
Ca
sh
flo
fro
tin
ctiv
itie
ws
m
op
era
g a
s
Pro
fit f
he
iod
or t
per		 \$4
,68
9		 \$5
(
7)
,68		 \$8
,10
2
Ad
jus
tme
nts
fo
r:
De
cia
tion
d a
rtiz
atio
pre
an
mo
n		 18,
272		 18,
529		 18,
663
Pe
nsi
tail
ain
nt g
on
cur
me		 – (
)
15,
159		 -
Re
str
uct
urin
d im
irm
ent
los
g e
xpe
nse
an
pa
ses		 20
,96
1		 19,
34
1		 (
1)
24
Env
iron
l ex
nta
me
pen
se		 151 11,
844		 2,1
07
Ne
t fin
ost
anc
e c
s		 29
,23
9		 33
,01
5		 52
,14
6
Sh
of
s (p
rof
it) o
f as
los
iate
are
soc
s		 (
)
447		 2,3
72		 3,2
13
Los
ale
dis
al o
f p
lan
d e
ipm
erty
t an
ent
s o
n s
or
pos
rop
, p
qu		 692 2,6
17		 93
Eq
uity
ttle
d s
har
e-b
d p
ctio
ent
tra
-se
ase
aym
nsa
ns		 282 386 4,2
07
Inc
e ta
om
x e
xpe
nse		 16,
332		 8,3
83		 20
,70
8
Ch
e in
rkin
ital
ang
wo
g c
ap		 1,4
18		 (
)
16,
195		 10,
20
1
Oth
er		 (
4,2
76)		 (
1,6
44)		 (
12,
952
)
Inte
id
t pa
res		 (
22
,01
2)		 (
28
,65
0)		 (
26
,79
2)
Inte
cei
ved
t re
res		 13,
300
Inc
aid
e ta
om
x p		 –
(
6,6
92)		 –
(
5,7
99)		 (
18,
255
)
Ne
h f
low
s f
tin
ctiv
itie
t c
as
rom
op
era
g a
s		 \$58
,60
9		 \$23
,35
3		 \$74
,50
0
Ca
sh
flo
ed
in i
sti
tiv
itie
ws
us
nve
ng
ac
s
fro
of
Pro
ds
ale
ty,
lan
t an
d e
ipm
ent
cee
m s
pro
per
p
qu		 191 420 768
Ca
sh
eiv
ed
for
eiv
abl
te
rec
no
rec
e		 1,3
53
Ac
isit
ion
of
oci
ate
qu
ass
s		 (
382
)		 –
(
4,0
03)		 –
(
9,1
62)
of
Ac
isit
ion
ty,
lan
t a
nd
ipm
ent
qu
pro
per
p
equ		 (
)
13,
659		 (
2)
24
,29		 (
9)
58
,25
Re
late
d p
arty
loa
ns		 (
14,
312
)		 (
11,
046
)		 (
4,4
75)
Re
cei
fro
ela
ted
pts
rty
m r
pa		 – 4,4
56
Pu
rch
of
sho
inv
rt te
est
nts
ase
rm
me		 – – (
)
15,
333
Ch
e in
stri
cte
d c
ash
ang
re		 – (
14,
054
)
Oth
er		 –
–		 –
–		 3,2
00
Ne
h f
low
sed
in
in
tin
ctiv
itie
t c
as
s u
ves
g a
s		 \$26
(
,80
9)		 \$38
(
,92
1)		 \$92
(
,85
9)
Ca
sh
flo
(u
sed
in
)
fro
m f
ina
ing
tiv
itie
ws
nc
ac
s
Pro
ds
fro
m i
f de
bt
cee
ssu
anc
e o		 209
,89
3		 26
,61
9		 105
,31
6
Pay
f tr
ion
nt o
act
sts
me
ans
co		 (
13,
487
)		 (
207
)		 (
8,8
30)
fina
Pre
nt p
ltie
late
d to
Re
nci
pay
me
ena
s re
ng		 – – (
6)
23
,18
Re
f bo
ing
nt o
pay
me
rrow
s		 (
219
,88
3)		 (
11,
878
)		 (
284
,01
8)
Iss
of S
har
uan
ce
es		 – 59 342
,60
7
f tr
of s
Pay
nt o
act
ion
sts
late
d to
iss
har
me
ans
co
re
uan
ce
es		 – – (
26)
8,5
Oth
er		 (
4)		 (
121
)		 62
Ne
h f
low
s (
d i
n)
fro
m f
ina
ing
tiv
itie
t c
as
use
nc
ac
s		 \$23
(
,48
1)		 \$14
,47
2		 \$12
3,4
25
Ne
t d
e in
sh
d c
ash
uiv
ale
nts
ecr
eas
ca
an
eq		 \$8,
319		 \$1,
(
096
)		 \$10
5,0
66
Ca
sh
and
sh
iva
len
Jan
ts a
t 1
ca
equ
uar
y		 45
,82
7		 50
,31
7		 54
,61
0
Eff
of
han
flu
atio
h h
eld
ect
rate
ctu
exc
ge
ns
on
cas		 (
3,8
29)		 5,3
89		 12,
882
Ca
sh
d c
ash
uiv
ale
31
De
be
nts
at
an
eq
cem
r		 \$50
,31
7		 \$54
,61
0		 \$17
2,5
58

More from AMG Critical Materials N.V.

Interim / Quarterly Report 2025
Sep 26
Quarterly Report 2025
Jul 31
Notice of Dividend Amount 2025
Jul 31
AGM Information 2025
May 9
Notice of Dividend Amount 2025
May 9
Annual Report (ESEF) 2025
Mar 20
Regulatory Filings 2019
Oct 9
M&A Activity 2019
Oct 8
Regulatory Filings 2019
Sep 26
Investor Presentation 2010
May 12
View all filings →

Talk to a Data Expert

Have a question? We'll get back to you promptly.