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