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 

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