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

2023-04-27 05:31:20

EQS-News: Andritz AG / Key word(s): Quarter Results
ANDRITZ once more 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][e-mail]
[3]andritz.com

Stefan Schantl
Head of Investor Relations
[4][e-mail]
[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: [phone]
Fax: [phone]
E-mail: [e-mail]
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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