EQS-News: ANDRITZ GROUP: Results for the first quarter of 2022

EQS-News: Andritz AG / Key word(s): Quarter Results
ANDRITZ GROUP: Results for the first quarter of 2022

29.04.2022 / 07:30
The issuer is solely responsible for the content of this announcement.

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ANDRITZ GROUP: Results for the first quarter of 2022

GRAZ, APRIL 29, 2022. International technology group ANDRITZ saw very
favorable business development in the first quarter of 2022. At just under
2.6 billion euros, order intake reached the second highest quarterly
figure in the company’s history, and the order backlog rose to the record
level of 9.4 billion euros. Operating result (EBITA), profitability and
net income increased significantly compared to the previous year’s
reference period.

Joachim Schönbeck, President & CEO of ANDRITZ AG: “We are very pleased
with business development in the first quarter of 2022. Despite the very
difficult overall economic conditions, we succeeded in increasing order
intake in all business areas – in some cases substantially – and created a
good basis for revenue and earnings development in the coming quarters.

The key financial figures developed as follows during the reporting
period:

• Order intake amounted to 2,588.6 million euros (MEUR) and was thus
49.7% higher than in the previous year’s reference period (Q1 2021:
1,729.5 MEUR). In particular, the Pulp & Paper and Hydro business
areas were able to increase order intake significantly compared to the
reference period of the previous year.
 
• The order backlog as of March 31, 2022, reached a record level at
9,435.1 MEUR and has thus risen significantly once again compared to
the end of 2021 (December 31, 2021: 8,165.8 MEUR).
 
• Revenue at 1,526.9 MEUR were 2.3% higher than in the previous year’s
reference period (Q1 2021: 1,493.2 MEUR). This rise is largely
attributable to the Metals and Separation business areas.
 
• The operating result (EBITA) increased more than revenue, reaching
122.3 MEUR (+10.3% compared to Q1 2021: 110.9 MEUR). As a result, the
Group’s profitability (EBITA margin) increased significantly to 8.0%
(Q1 2021: 7.4%). This is mainly due to continuing good business
development in the Pulp & Paper business area and the substantial
earnings improvements achieved by the Metals and Hydro business areas.
 
• Net income (without non-controlling interests) increased to 71.5 MEUR
(Q1 2021: 62.1 MEUR).

For the full-year 2022, ANDRITZ confirms the expectations voiced in March
2022 on the occasion of the release of the 2021 financial figures and,
from today’s perspective, expects an increase in revenue as well as in
EBITA and net income compared to the previous year.

The financial guidance provided by ANDRITZ for 2022 takes account of the
financial impact discernible from today’s perspective by the war in
Ukraine as a regional incident. Possible adverse economic effects by the
Chinese COVID policy on the global economy cannot be estimated at present
and thus are not included in the ANDRITZ financial guidance. A negative
impact cannot be excluded from today’s perspective.

However, if the global economy suffers severe setbacks in the coming
months as a result of the war between Russia and Ukraine or the pandemic
intensifies again, this could lead to negative effects on the processing
of orders and on order intake and hence have a negative impact on
ANDRITZ’s financial development. This may create a need for capacity
adjustment measures that could have a negative impact on the ANDRITZ
GROUP’s earnings. Similarly, further increases in the price of raw
materials or bottlenecks in global supply chains could have a negative
effect on the Group’s earnings development.

KEY FINANCIAL FIGURES AT A GLANCE

  Unit Q1 2022 Q1 2021 +/- 2021
Revenue MEUR 1,526.9 1,493.2 +2.3% 6,463.0
  Pulp & Paper MEUR 712.9 710.9 +0.3% 3,070.6
  Metals MEUR 356.5 316.1 +12.8% 1,366.1
  Hydro MEUR 291.6 316.0 -7.7% 1,345.1
  Separation MEUR 165.9 150.2 +10.5% 681.2
Order intake MEUR 2,588.6 1,729.5 +49.7% 7,879.7
  Pulp & Paper MEUR 1,105.8 845.5 +30.8% 3,774.7
  Metals MEUR 501.4 429.1 +16.8% 1,778.8
  Hydro MEUR 756.3 284.3 +166.0% 1,565.2
  Separation MEUR 225.1 170.6 +31.9% 761.0
Order backlog (as of end of period) MEUR 9,435.1 7,071.3 +33.4% 8,165.8
EBITDA MEUR 163.4 151.1 +8.1% 718.3
EBITDA margin % 10.7 10.1 – 11.1
EBITA MEUR 122.3 110.9 +10.3% 546.5
EBITA margin % 8.0 7.4 – 8.5
Earnings Before Interest
and Taxes (EBIT) MEUR 106.3 96.4 +10.3% 479.6
Financial result MEUR -10.7 -12.4 +13.7% -40.0
Earnings Before Taxes (EBT) MEUR 95.6 84.0 +13.8% 439.6
Net income (without non-controlling
interests) MEUR 71.5 62.1 +15.1% 325.5
Cash flow
from operating activities MEUR 227.1 69.2 +228.2% 529.6
Capital expenditure MEUR 39.1 31.9 +22.6% 160.1
Employees (as of end of period;
without apprentices)   – 27,108 26,952 +0.6% 26,804

All figures according to IFRS. Due to the utilization of automatic
calculation programs, differences can arise in the addition of rounded
totals and percentages. MEUR = million euros. EUR = euros.

– End –

PRESS RELEASE AVAILABLE FOR DOWNLOAD
This press release is available for download at andritz.com/news.

FOR FURTHER INFORMATION, PLEASE CONTACT
Dr. Michael Buchbauer
Head of Corporate Communications
[1]michael.buchbauer@andritz.com
andritz.com

ANDRITZ GROUP
International technology group ANDRITZ offers a broad portfolio of
innovative plants, equipment, systems, services and digital solutions for
many different industries and end-markets. ANDRITZ ranks among the global
market leaders in all four of its business areas – Pulp & Paper, Metals,
Hydro, and Separation. Technological leadership, global presence, and
sustainability are the main pillars of the company’s business strategy for
achieving long-term growth. The publicly listed group has around 27,100
employees and over 280 locations in more than 40 countries.

ANNUAL AND FINANCIAL REPORTS
The annual and financial reports are available for download on the ANDRITZ
web site at [2]andritz.com.

DISCLAIMER
Certain statements contained in this press release constitute
“forward-looking statements”. These statements, which contain the words
“believe,” “intend,” “expect,” and words of a similar meaning, reflect the
Executive Board’s beliefs and expectations and are subject to risks and
uncertainties that may cause actual results to differ materially. As a
result, readers are cautioned not to place undue reliance on such
forward-looking statements. The company disclaims any obligation to
publicly announce the result of any revisions to the forward-looking
statements made herein, except where it would be required to do so under
applicable law.

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29.04.2022 This Corporate News was distributed by EQS Group AG.
www.eqs.com

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Language: English
Company: Andritz AG
Stattegger Straße 18
8045 Graz
Austria
Phone: +43 (0)316 6902-0
Fax: +43 (0)316 6902-415
E-mail: welcome@andritz.com
Internet: www.andritz.com
ISIN: AT0000730007
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1338747

 
End of News EQS News Service

1338747  29.04.2022 

References

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1. michael.buchbauer@andritz.com
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