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Weak Euro, Strong Business |

Weak Euro, Strong Business |

The low Euro also plays a positive role in the Amag aluminum group from Ranshofen. “We do our business in euros and US dollars. The currency relationship helps us with dollar transactions,” says AMAG spokesperson, Leopold Buchsteiner. “If we have sales in US dollars and costs in euros, the higher the dollar, the more advantages we have.” Amag’s competitors in Asia and America produce much cheaper , but this currency difference can be mitigated.In addition, AMAG uses hedging to hedge the currency risk associated with larger orders.

Meanwhile, with a consumption of 500 GWh of gas and 250 GWh of electricity, the group is one of the largest energy consumers in Austria. “We’re so completely dependent on natural gas, if it’s turned off, we’re standing up and the furnace is off,” says Pöcksteiner. “We can only do certain process steps with gas, especially in the liquid phase, where we melt the material, and we have no other options.”

Andritz says current exchange rate developments do not lead to any particular advantages or disadvantages, “especially since we are also dealing with long-term projects – which is typical for our business,” says the spokesperson.

The listed brick company has its factories in many countries, sales are made in local currencies. This is a currency neutral story. “But what we’re taking advantage of is North America, which we expanded last year with an acquisition,” says Weinerberger’s Marco Reiter. 13 percent of the group’s sales in 2021 of four billion euros can be attributed to North American activities in US dollars. If we include that in the consolidated financial statements, which we prepare in euros, we have an advantage.”

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