AMG Advanced Metallurgical Q3 Profit Rises; To Re-appoint CEO To New Term

(RTTNews) - Netherlands-based AMG Advanced Metallurgical Group N.V. reported Friday that its third-quarter net income attributable to shareholders surged 130 percent to $3.24 million or $0.12 per share from last year's $1.41 million or $0.05 per share.

EBITDA increased 32 percent to $23.4 million from $17.7 million in 2013.

Revenue, meanwhile, dropped 2 percent to $279.7 million from $286.4 million a year ago.

Separately, AMG announced that its Supervisory Board, in its meeting of November 6, decided to propose to the Annual Meeting in May 2015, to re-appoint its current CEO Heinz Schimmelbusch as CEO and Chairman of the Management Board for a term of four years.