EQS-News: ANDRITZ reports record results for 2023

EQS-News: Andritz AG / Key word(s): Annual Results
ANDRITZ reports record results for 2023

29.02.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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• Revenue, net income and EBITA reach record high for second consecutive
year
• Full year order intake satisfactory, order intake in fourth quarter up
by 12% from the previous year
• Significant increase in dividends to 2.50 EUR per share

GRAZ, FEBRUARY 29, 2024. In 2023, international technology group ANDRITZ
again achieved the best results in its history. Revenue increased to 8.7
billion EUR (up 15% from 2022), net income rose to 504 MEUR (+25%), and
the operating result (EBITA) reached 742 MEUR (+14%). The comparable EBITA
margin increased from 8.5% to 8.7%. Subject to the approval by the Annual
General Meeting, shareholders will benefit from this excellent performance
through a dividend increase to 2.50 EUR (2022: 2.10 EUR) per share.

Order intake in the fourth quarter increased by 12% from the previous
year’s reference quarter. Order intake for the full year decreased by 8%
to 8,552 MEUR due to reduced capital investments by Pulp & Paper
customers. All other business areas were able to increase their order
intakes. 

The Hydro business area achieved a substantial increase in order intake as
a result of the favorable market development for new hydropower plants,
modernizations and pumped storage projects.

In 2023, ANDRITZ not only won its first large-scale order for a green
hydrogen plant but also the first order for a large, fully automated cell
formation plant to produce battery cells for e-mobility. In the fourth
quarter of 2023, ANDRITZ received orders for major pumped storage projects
in Austria and Greece.

“Providing economically viable solutions that support industries in their
decarbonization effort is an integral part of our company strategy. We are
very pleased that these solutions play an increasingly important role in
our growth,” said Joachim Schönbeck, President & CEO of ANDRITZ AG. “The
increase in order intake in the fourth quarter of 2023 and the
book-to-bill ratio, which reached almost 1 for the full year, show
ANDRITZ’s resilience in a difficult economic and geopolitical
environment.”

The results of the business year 2023 in more detail:

• Order intake for 2023, at 8,551.9 MEUR, was somewhat lower than in the
previous year (-7.7% compared to 2022: 9,263.4 MEUR). The Hydro,
Metals and Separation business areas were able to increase their order
intakes and thus partly compensate for the decline in the Pulp & Paper
business area, which was impacted by a global market weakness
regarding new capacities.

• Revenue developed very favorably in 2023, reaching a new record level
of 8,660.0 MEUR (+14.8% compared to 2022: 7,542.9 MEUR). All four
business areas achieved considerable increases in revenue.

• Order backlog as of the end of 2023 amounted to 9,872.6 MEUR,
remaining basically at the same high level as in the previous year
(-1.0% compared to 2022: 9,976.5 MEUR).

• The operating result (EBITA) increased in line with revenue and
reached 741.9 MEUR, also a record level (+14.4% compared to 2022:
648.5 MEUR). Profitability (EBITA margin) remained at 8.6% (2022:
8.6%). The comparable EBITA margin increased from 8.5% in 2022 to 8.7%
in 2023.

• The net income (including non-controlling interests) increased
significantly compared to the previous year, amounting to 504.3 MEUR
(+25.3% compared to 2022: 402.6 MEUR).

ANDRITZ expects for the business year 2024 a slight increase of revenue
and earnings.

KEY FINANCIAL FIGURES AT A GLANCE

  Unit 2023 2022 +/- Q4 2023 Q4 2022 +/-
Order intake MEUR 8,551.9 9,263.4 -7.7% 2,035.9 1,812.4 +12.3%
    – Pulp & Paper MEUR 3,119.4 4,296.4 -27.4% 668.1 735.6 -9.2%
    – Metals MEUR 2,124.5 2,008.6 +5.8% 379.4 453.8 -16.4%
    – Hydro MEUR 2,020.9 1,720.5 +17.5% 610.5 310.8 +96.4%
    – Separation MEUR 1,287.1 1,237.9 +4.0% 377.9 312.2 +21.0%
Revenue MEUR 8,660.0 7,542.9 +14.8% 2,446.9 2,335.1 +4.8%
    – Pulp & Paper MEUR 4,096.3 3,513.8 +16.6% 1,160.4 1,102.8 +5.2%
    – Metals MEUR 1,840.5 1,621.2 +13.5% 492.2 487.4 +1.0%
    – Hydro MEUR 1,521.7 1,313.0 +15.9% 448.3 422.3 +6.2%
    – Separation MEUR 1,201.5 1,094.9 +9.7% 346.0 322.6 +7.3%
Order backlog
(as of end of period) MEUR 9,872.6 9,976.5 -1.0% 9,872.6 9,976.5 -1.0%
EBITDA MEUR 910.2 825.5 +10.3% 277.4 268.4 +3.4%
EBITDA margin % 10.5 10.9 – 11.3 11.5 –
EBITA MEUR 741.9 648.5 +14.4% 232.9 222.7 +4.6%
EBITA margin % 8.6 8.6 – 9.5 9.5 –
Comparable EBITA MEUR 757.1 644.3 +17.5% 243.9 221.2 +10.3%
Comparable EBITA
margin % 8.7 8.5 – 10.0 9.5 –
EBIT MEUR 685.2 572.7 +19.6% 212.5 195.0 +9.0%
Financial result MEUR 3.0 -31.8 +109.4% 4.8 -11.2 +142.9%
EBT MEUR 688.2 540.9 +27.2% 217.3 183.8 +18.2%
Net income
(including
non-controlling
interests) MEUR 504.3 402.6 +25.3% 158.2 140.3 +12.8%
Net income margin % 5.8 5.3 – 6.5 6.0 –
Earnings per share EUR 5.15 4.14 – 1.60 1.43 –
Cash flow from
operating activities MEUR 375.0 710.8 -47.2% 300.1 268.2 +11.9%
Capital expenditure MEUR 226.2 184.4 +22.7% 68.5 64.5 +6.2%
Employees (as of end
of period;
without apprentices) – 29,717 29,094 +2.1% 29,717 29,094 +2.1%
               

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 –

FOR FURTHER INFORMATION, PLEASE CONTACT:

Susan Trast
Vice President, Group Communications & Marketing
[1]susan.trast@andritz.com
[2]andritz.com

Norbert Nettesheim
CFO
[3]investors@andritz.com
[4]andritz.com

ANDRITZ GROUP
International technology group ANDRITZ offers a broad portfolio of
innovative plants, equipment, systems, services and digital solutions for
a wide range of industries and end markets. Sustainability is an integral
part of the company’s business strategy and corporate culture. With its
extensive portfolio of sustainable products and solutions, ANDRITZ aims to
make the greatest possible contribution to a sustainable future and help
its customers achieve their sustainability goals. ANDRITZ is a global
market leader in all four of its business areas – Pulp & Paper, Metals,
Hydropower and Environment & Energy. Technological leadership and global
presence are cornerstones of the group’s strategy, which is focused on
long-term profitable growth. The publicly listed group has around 30,000
employees and over 280 locations in more than 80 countries.

ANNUAL AND FINANCIAL REPORTS
The annual and financial reports are available for download on the ANDRITZ
web site at [5]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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29.02.2024 CET/CEST 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: 1847731

 
End of News EQS News Service

1847731  29.02.2024 CET/CEST

References

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