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
Uni- Q1 2024 Q1 2023 +/- 2023
t
Revenue MEU- 1,886.4 1,962.6 -3.9- 8,660.0
R %
- Pulp & Paper MEU- 832.3 887.3 -6.2- 3,987.4
R %
- Metals MEU- 439.5 421.8 +4.2- 1,839.6
R %
- Hydropower MEU- 302.3 355.6 -15.- 1,521.7
R 0%
- Environment & Energy MEU- 312.3 297.9 +4.8- 1,311.3
R %
Order intake MEU- 1,950.3 2,420.2 -19.- 8,551.9
R 4%
- Pulp & Paper MEU- 642.5 968.4 -33.- 3,036.0
R 7%
- Metals MEU- 349.1 669.3 -47.- 1,997.7
R 8%
- Hydropower MEU- 497.6 429.3 +15.- 2,020.9
R 9%
- Environment & Energy MEU- 461.1 353.2 +30.- 1,497.3
R 5%
Order backlog (as of end of MEU- 10,002.7 10,407.8 -3.9- 9,872.6
period) R %
EBITDA MEU- 194.0 200.4 -3.2- 910.2
R %
EBITDA margin % 10.3 10.2 - 10.5
EBITA MEU- 152.4 158.5 -3.8- 741.9
R %
EBITA margin % 8.1 8.1 - 8.6
Comparable EBITA MEU- 153.5 160.3 -4.2- 757.1
R %
Comparable EBITA margin % 8.1 8.2 - 8.7
Earnings Before Interest and MEU- 139.9 146.0 -4.2- 685.2
Taxes (EBIT) R %
Financial result MEU- -0.2 -8.3 +97.- 3.0
R 6%
Earnings Before Taxes (EBT) MEU- 139.7 137.7 +1.5- 688.2
R %
Net income (including MEU- 104.1 102.5 +1.6- 504.3
non-controlling interests) R %
Cash flow from operating MEU- 285.3 -31.4 n.a. 375.0
activities R
Capital expenditure MEU- 39.7 48.4 -18.- 226.2
R 0%
Employees (as of end of period; - 29,933 29,670 +0.9- 29,717
without apprentices) %
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
press@andritz.com
andritz.com
Matthias Pfeifenberger
Head of Investor Relations
investors@andritz.com
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 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
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1888729 25.04.2024 CET/CEST