- Critical materials firm AMG Advanced Metallurgical Group today reported Q1 2023 revenue of $451 million, a 12% increase versus the same period in 2022.
Cash from operating activities was $93 million in the first quarter of 2023, an increase of $97 million over the same period in 2022. AMG added that its liquidity as of March 31, 2023 was $555 million, with $360 million of unrestricted cash and $195 million of revolving credit availability. The company also reaffirmed that its guidance for the full year 2023 to exceed $400 million EBITDA.
"The record results are due to our recent expansion projects. The profitability going forward is also driven by the strategic projects coming on stream in 2023 and 2024, in particular our lithium concentrate expansion and our first lithium hydroxide refinery module in Bitterfeld. We thereby confirm our guidance for 2023 to exceed $400 million in EBITDA."