EQS-News: ANDRITZ again significantly increases revenue and earnings in the first quarter of 2023

EQS-News: Andritz AG / Key word(s): Quarter Results
   ANDRITZ again significantly increases revenue and earnings in the first
   quarter of 2023

   27.04.2023 / 07:30 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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     • Order intake remains high at 2.4 billion euros
     • Positive outlook for full year 2023 confirmed
     • Cutting-edge green technology opens up new growth areas

   GRAZ, APRIL 27, 2023. International technology group ANDRITZ has started
   the 2023 business year with unchanged high growth dynamics despite a
   slowing global economy. Revenue and operating result both increased
   significantly by well over 20 percent in the first quarter of 2023
   compared with the same period of the previous year. Net income improved by
   almost 50 percent to 104.5 million euros (MEUR). Order intake reached a
   favorable level of 2.4 billion euros but was 6.5 percent below the figure
   for the first quarter of 2022, when the booking of two large-scale orders
   had provided an exceptional peak.

   CEO Dr. Joachim Schönbeck stated: “ANDRITZ showed exceptionally strong
   growth and resilience during the first quarter in the face of a weakening
   economy, rising interest rates, and turbulence in the banking sector. Our
   broad portfolio of available future technologies for the transformation of
   our customers' production processes toward sustainability provides a
   stable foundation for the further expansion of our global market
   position.”

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

     • Order intake amounted to 2,420.2 MEUR and was thus 6.5% below the high
       level of the previous year’s reference period (Q1 2022: 2,588.6 MEUR),
       which included two large-scale orders. The Metals business area was
       able to increase its order intake significantly compared to the
       previous year’s reference period.

     • The order backlog as of March 31, 2023 amounted to 10,407.8 MEUR and
       has thus increased compared to 2022 (December 31, 2022: 9,976.5 MEUR).

     • Revenue at 1,962.6 MEUR was 28.5% higher than the reference figure for
       the previous year’s reference period (Q1 2022: 1,526.9 MEUR). All four
       business areas were able to significantly increase their revenue
       compared to the previous year.

     • The operating result (EBITA) increased in line with revenue, reaching
       a very favorable level at 158.5 MEUR in the first quarter of 2023
       (+29.6% versus Q1 2022: 122.3 MEUR). The Group’s profitability (EBITA
       margin) increased slightly to 8.1% (Q1 2022: 8.0%).

     • Net income (without non-controlling interests) increased significantly
       to 104.5 MEUR (Q1 2022: 71.5 MEUR).

   Chief Financial Officer Norbert Nettesheim said: “In particular, the
   strong increase in our operating result is encouraging and shows that
   ANDRITZ continues to grow profitably. The continued improvement in
   profitability in the Metals business area with the Schuler Group is
   particularly positive.”

   Following the successful first quarter, ANDRITZ confirms its previously
   published outlook for the full year 2023. Both revenue and earnings for
   the full year are expected to be above the level of 2022.

   CEO Dr. Joachim Schönbeck: “We are seeing continued brisk project activity
   in all our business areas and continued lively investment interest from
   our customers. In this context, we are confident that our new products,
   such as plants for CO[2] capture, for the production of green hydrogen and
   for battery production, will make a particular contribution to growth.”

   KEY FINANCIAL FIGURES AT A GLANCE
    

                                        Unit  Q1 2023 Q1 2022     +/-    2022
   Revenue                              MEUR  1,962.6 1,526.9  +28.5% 7,542.9
       Pulp & Paper*                    MEUR    907.9   695.1  +30.6% 3,513.8
       Metals                           MEUR    421.8   356.5  +18.3% 1,621.2
       Hydro*                           MEUR    355.6   247.7  +43.6% 1,313.0
       Separation*                      MEUR    277.3   227.6  +21.8% 1,094.9
   Order intake                         MEUR  2,420.2 2,588.6   -6.5% 9,263.4
       Pulp & Paper*                    MEUR    993.3 1,079.3   -8.0% 4,296.4
       Metals                           MEUR    669.4   501.4  +33.5% 2,008.6
       Hydro*                           MEUR    429.3   703.5  -39.0% 1,720.5
       Separation*                      MEUR    328.2   304.4   +7.8% 1,237.9
   Order backlog (as of end of period)  MEUR 10,407.8 9,435.1  +10.3% 9,976.5
   EBITDA                               MEUR    200.4   163.4  +22.6%   825.5
   EBITDA margin                           %     10.2    10.7       -    10.9
   EBITA                                MEUR    158.5   122.3  +29.6%   648.5
   EBITA margin                            %      8.1     8.0       -     8.6
   Earnings Before Interest and Taxes
   (EBIT)                               MEUR    146.0   106.3  +37.3%   572.7
   Financial result                     MEUR     -8.3   -10.7  +22.4%   -31.8
   Earnings Before Taxes (EBT)          MEUR    137.7    95.6  +44.0%   540.9
   Net income (without non-controlling
   interests)                           MEUR    104.5    71.5  +46.2%   409.6
   Cash flow
   from operating activities            MEUR    -31.4   227.1 -113.8%   710.8
   Capital expenditure                  MEUR     48.4    39.1  +23.8%   184.4
   Employees (as of end of period;
   without apprentices)                    -   29,670  27,108   +9.5%  29,094

   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.

   *At the beginning of 2023, ANDRITZ made changes to the reporting structure
   of the business areas. The pumps business (previously reported in the
   Hydro business area) and some products of the Pulp & Paper business area
   that are mainly supplied to customers outside the pulp & paper industry,
   will be reported in the Separation business area as of January 1, 2023.
   The comparative figures for the previous year are also shown in the new
   reporting structure.

   – End –

   PRESS RELEASE AVAILABLE FOR DOWNLOAD
   This press release is available for download at [1]andritz.com/news on the
   ANDRITZ web site.

   FOR FURTHER INFORMATION, PLEASE CONTACT:

   Susan Trast
   Vice President Group Corporate Communications & Marketing
   [2][email protected]
   [3]andritz.com

   Stefan Schantl
   Head of Investor Relations
   [4][email protected]
   [5]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. Sustainability is an essential
   part of the business strategy and of the company culture. With its
   extensive portfolio of sustainable products and solutions, ANDRITZ wishes
   to make the largest possible contribution towards a sustainable future and
   help its customers achieve their sustainability goals. ANDRITZ ranks among
   the global market leaders in all four of its business areas – Pulp &
   Paper, Metals, Hydro, and Separation. Technological leadership and global
   presence are main pillars of the company’s business strategy for achieving
   long-term growth. The publicly listed group has around 29,700 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 [6]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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   27.04.2023 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:      [email protected]
   Internet:    www.andritz.com
   ISIN:        AT0000730007
   Indices:     ATX
   Listed:      Vienna Stock Exchange (Official Market)
   EQS News ID: 1618363


    
   End of News EQS News Service


   1618363  27.04.2023 CET/CEST

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