EQS-News: ANDRITZ reports stable results for the first quarter of 2024

EQS-News: Andritz AG / Key word(s): Quarter Results
ANDRITZ reports stable results for the first quarter of 2024

25.04.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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GRAZ, APRIL 25, 2024.  International technology group ANDRITZ saw a
satisfactory business development in the first quarter of 2024. The
revenue decreased slightly, but profitability remained stable and net
income increased slightly compared to the first quarter of 2023. While
total order intake declined from the high level of the previous year,
orders for green technologies went up.

ANDRITZ CEO Joachim Schönbeck stated, “Considering the increasingly
difficult economic and geopolitical environment, we are satisfied with our
business performance in the first quarter. The growth trend in our green
products and service business shows that we are on the right track.”

The Group’s revenue reached 1,886 million EUR (MEUR), a decrease of 4%
compared to the first quarter of 2023. The EBITA margin remained at the
level of Q1 2023 (8.1%) and net income increased by 1.6% compared to the
first quarter of 2023.

Order intake reached 1,950 MEUR, down 19% compared to Q1 2023. While order
intake in the service business was good, the markets for capital goods
were very weak across the industries served.

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

• Order intake amounted to 1,950.3 MEUR and was thus 19.4% below the
high level of the previous year’s reference period (Q1 2023: 2,420.2
MEUR), which included several major orders in Pulp & Paper and Metals.
The development of order intake varied considerably by business area.
While Environment & Energy and Hydropower achieved significant
increases in order intake by 30.5% and 15.9%, respectively, compared
to Q1 2023, the order intake of Metals (-47.8%) and Pulp & Paper
(-33.7%) decreased considerably.
 
• The order backlog as of March 31, 2024 amounted to 10,002.7 MEUR and
has thus increased compared to the end of 2023 (December 31, 2023:
9,872.6 MEUR).
 
• With a slight decline of 3.9%, revenue at 1,886.4 MEUR proved
resilient (Q1 2023: 1,962.6 MEUR). While Environment & Energy and
Metals achieved increases by 4.8% and 4.2%, respectively, compared to
Q1 2023, revenue in Hydropower and Pulp & Paper decreased by 15% and
6.2% respectively.
 
• The operating result (EBITA) reached 152.4 MEUR in the first quarter
of 2024 (-3.8% versus Q1 2023: 158.5 MEUR). The Group’s profitability
(EBITA margin) remained stable at 8.1% (Q1 2023: 8.1%).
 
• Net income (including non-controlling interests) increased to
104.1 MEUR (Q1 2023: 102.5 MEUR).
 
• Operating cashflow increased significantly to 285.3 MEUR compared to
Q1 2023 (-31.4) due to improvements in net working capital.

Against the backdrop of the global economic environment, ANDRITZ does not
expect a quick recovery of the markets and has adjusted its outlook,
expecting stable revenue and profitability (EBITA margin) for the 2024
financial year.

KEY FINANCIAL FIGURES AT A GLANCE
 

  Unit Q1 2024 Q1 2023 +/- 2023
Revenue MEUR 1,886.4 1,962.6 -3.9% 8,660.0
    – Pulp & Paper MEUR 832.3 887.3 -6.2% 3,987.4
    – Metals MEUR 439.5 421.8 +4.2% 1,839.6
    – Hydropower MEUR 302.3 355.6 -15.0% 1,521.7
    – Environment & Energy MEUR 312.3 297.9 +4.8% 1,311.3
Order intake MEUR 1,950.3 2,420.2 -19.4% 8,551.9
    – Pulp & Paper MEUR 642.5 968.4 -33.7% 3,036.0
    – Metals MEUR 349.1 669.3 -47.8% 1,997.7
    – Hydropower MEUR 497.6 429.3 +15.9% 2,020.9
    – Environment & Energy MEUR 461.1 353.2 +30.5% 1,497.3
Order backlog (as of end of period) MEUR 10,002.7 10,407.8 -3.9% 9,872.6
EBITDA MEUR 194.0 200.4 -3.2% 910.2
EBITDA margin % 10.3 10.2 – 10.5
EBITA MEUR 152.4 158.5 -3.8% 741.9
EBITA margin % 8.1 8.1 – 8.6
Comparable EBITA MEUR 153.5 160.3 -4.2% 757.1
Comparable EBITA margin % 8.1 8.2 – 8.7
Earnings Before Interest and Taxes
(EBIT) MEUR 139.9 146.0 -4.2% 685.2
Financial result MEUR -0.2 -8.3 +97.6% 3.0
Earnings Before Taxes (EBT) MEUR 139.7 137.7 +1.5% 688.2
Net income (including
non-controlling interests) MEUR 104.1 102.5 +1.6% 504.3
Cash flow from operating activities MEUR 285.3 -31.4 n.a. 375.0
Capital expenditure MEUR 39.7 48.4 -18.0% 226.2
Employees (as of end of period;
without apprentices) – 29,933 29,670 +0.9% 29,717

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:

Niklas Jelinek
External Communications Lead / Media Relations
[1]press@andritz.com
[2]andritz.com

Matthias Pfeifenberger
Head of Investor Relations
[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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25.04.2024 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: 1888729

 
End of News EQS News Service

1888729  25.04.2024 CET/CEST

References

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