EQS-News: ANDRITZ continues to increase results in the third quarter of 2023

EQS-News: Andritz AG / Key word(s): Quarter Results/9 Month figures
ANDRITZ continues to increase results in the third quarter of 2023

02.11.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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  • Revenue up 11%, net income up 27%, and EBITA up 16% compared to Q3 2022.
  • Order intake down from Q3 2022 due to absence of large orders. Order backlog
    remains at high level.
  • Positive outlook for business year 2023 confirmed.

GRAZ, NOVEMBER 2, 2023.  International technology group ANDRITZ achieved strong
increases in revenue, earnings, and net income in the third quarter of 2023 compared
to the previous year’s reference period. The group has thus continued the positive
development of the previous quarters.

Total order intake declined from the previous year’s reference quarter, which
included a large pulp mill order. However, order intake increased in the business
areas Hydro, Metals, and Separation. The order intake for sustainable solutions and
products was very satisfactory.

After entering the green hydrogen market with its first engineering order in the
second quarter of 2023, ANDRITZ booked its first order for the supply of a complete
green hydrogen plant in the third quarter. German steel producer Salzgitter Group
selected ANDRITZ to supply one of the largest green hydrogen plants in Europe as part
of its sustainable transformation program.

Joachim Schönbeck, President & CEO of ANDRITZ AG, stated: “Our products and solutions
serving the green transition of the economy are increasingly contributing to our
order intake. We are steadily expanding this product range, reaffirming our
commitment to innovation and sustainability. The solid growth in our service revenues
continued in the third quarter, helping us to further stabilize our business.”

The Group’s financial key figures:

  • Order intake in the third quarter of 2023 amounted to 1,803.5 MEUR and was thus
    32.8% below the previous year’s reference figure (Q3 2022: 2,683.4 MEUR). The
    Metals, Hydro and Separation business areas were able to increase their order
    intake compared to the previous year’s reference quarter. In the Pulp & Paper
    business area, however, order intake significantly declined as a large order for
    a complete pulp mill was booked in Q3 2022.

  • Order backlog as of September 30, 2023 amounted to 10,361.2 MEUR and increased
    by 3.9% compared with the end of 2022 (9,976.5 MEUR).

  • Revenue in the third quarter of 2023 reached 2,104.1 MEUR and was thus well above
    the previous year’s reference period (+11.3% compared to Q3 2022: 1,890.8 MEUR).
    All four business areas noted significant increases in revenue compared to the
    previous year. Revenue in the first three quarters of 2023, at 6,213.1 MEUR, was
    also significantly higher than the previous year’s reference figure (+19.3%
    versus Q1-Q3 2022: 5,207.8 MEUR).

  • EBITA in the third quarter of 2023 amounted to 176.4 MEUR, considerably higher
    than in the previous year’s reference period (+15.6% compared to Q3 2022: 152.6
    MEUR). The EBITA in the first three quarters of 2023 amounted to 509.0 MEUR
    (+19.5% compared to Q1-Q3 2022: 425.8 MEUR). Profitability (EBITA margin) at 8.4%
    in Q3 2023 increased compared to Q3 2022 (8.1%).

  • Net income (including non-controlling interests) increased significantly to
    124.6 MEUR in the third quarter of 2023 (+26.6% compared to Q3 2022: 98.4 MEUR).
    In the first three quarters of 2023, net income (including non-controlling
    interests) amounted to 346.1 MEUR (Q1-Q3 2022: 262.3 MEUR), thus 31.9% higher
    than in the reference period of last year.

For the full business year 2023, ANDRITZ confirms the financial guidance published
with the results for the first half of 2023 and, from today’s perspective, expects a
significant increase in revenue and earnings as well as stable profitability (EBITA
margin).

KEY FINANCIAL FIGURES AT A GLANCE

 

                              Q1-Q3    Q1-Q3
                      Unit     2023     2022    +/-  Q3 2023  Q3 2022     +/-    2022
Revenue               MEUR  6,213.1  5,207.8 +19.3%  2,104.1  1,890.8  +11.3% 7,542.9
    Pulp & Paper      MEUR  2,935.9  2,411.0 +21.8%    985.7    868.5  +13.5% 3,513.8
    Metals            MEUR  1,348.3  1,133.8 +18.9%    456.1    399.8  +14.1% 1,621.2
    Hydro             MEUR  1,073.4    890.7 +20.5%    362.9    343.3   +5.7% 1,313.0
    Separation        MEUR    855.5    772.3 +10.8%    299.4    279.2   +7.2% 1,094.9
Order intake          MEUR  6,516.0  7,451.0 -12.5%  1,803.5  2,683.4  -32.8% 9,263.4
    Pulp & Paper      MEUR  2,451.3  3,560.8 -31.2%    615.3  1,529.2  -59.8% 4,296.4
    Metals            MEUR  1,745.1  1,554.8 +12.2%    568.1    564.1   +0.7% 2,008.6
    Hydro             MEUR  1,410.4  1,409.7  +0.0%    323.8    304.0   +6.5% 1,720.5
    Separation        MEUR    909.2    925.7  -1.8%    296.3    286.1   +3.6% 1,237.9
Order backlog
(as of end of period) MEUR 10,361.2 10,822.2  -4.3% 10,361.2 10,822.2   -4.3% 9,976.5
EBITDA                MEUR    632.8    557.1 +13.6%    217.5    194.9  +11.6%   825.5
EBITDA margin            %     10.2     10.7      -     10.3     10.3       -    10.9
EBITA                 MEUR    509.0    425.8 +19.5%    176.4    152.6  +15.6%   648.5
EBITA margin             %      8.2      8.2      -      8.4      8.1       -     8.6
Earnings Before
Interest and Taxes
(EBIT)                MEUR    472.7    377.7 +25.2%    164.2    136.2  +20.6%   572.7
Financial result      MEUR     -1.8    -20.6 +91.3%      5.0     -2.2 +327.3%   -31.8
Earnings Before Taxes
(EBT)                 MEUR    470.9    357.1 +31.9%    169.2    134.0  +26.3%   540.9
Net income (including
non-controlling
interests)            MEUR    346.1    262.3 +31.9%    124.6     98.4  +26.6%   402.6
Cash flow from
operating activities  MEUR     74.9    442.6   n.a.    154.2     29.4    n.a.   710.8
Capital expenditure   MEUR    157.7    119.9 +31.5%     64.4     39.4  +63.5%   184.4
Employees (as of end
of period; without
apprentices)             -   29,819   27,925  +6.8%   29,819   27,925   +6.8%  29,094

All figures according to IFRS. Due to the utilization of automated calculation
programs, differences may occur 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 [1]andritz.com/news on the ANDRITZ
web site.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

Norbert Nettesheim
CFO
[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 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, Hydro and
Separation. 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 29,800 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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02.11.2023 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: 1761955


    
   End of News EQS News Service


   1761955  02.11.2023 CET/CEST

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