Andritz AG

EANS-News: ANDRITZ GROUP: solid business development in the first half of 2014


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6-month report

Graz, August 7, 2014.  International technology Group ANDRITZ showed solid 
business development in the first half of 2014 in a still challenging 
overall economic environment.
- Sales increased slightly to 2,659.4 MEUR in the first half of 2014 
  (+1.9% versus H1 2013: 2,610.1 MEUR); this increase is attributable to the
  Schuler Group, which only contributed four months to the previous year's 
  reference period (first-time consolidation as of March 1, 2013). 
  Sales in the second quarter of 2014, at 1,439.9 MEUR, almost reached the 
  reference figure of last year (-0.4% versus Q2 2013: 1,446.3 MEUR). 

- The order intake amounted to 2,980.2 MEUR in the first half of 2014 and was 
  thus well above the previous year's reference figure (+18.0% versus 
  H1 2013: 2,526.0 MEUR). This significant increase is mainly due to the good
  order intake in the PULP & PAPER and METALS business areas in the first 
  quarter of 2014. The order intake in the second quarter of 2014, at 
  1,238.0 MEUR, was practically unchanged compared to the level in the 
  second quarter of 2013 (1,237.7 MEUR).

- As of June 30, 2014, the order backlog amounted to 7,555.7 MEUR which is 
  an increase of 2.3% compared to the end of last year (December 31, 2013:
  7,388.5 MEUR).

- In the first half of 2014, the EBITA amounted to 133.4 MEUR (+37.7% versus
  H1 2013: 96.9 MEUR) and the EBITA margin was 5.0% (H1 2013: 3.7%). Thus, 
  earnings were significantly above the low reference figure for the previous
  year, which was strongly negatively impacted in the first quarter of 2013 
  by high provisions booked for a pulp mill project in South America. 
  In the second quarter of 2014, the EBITA amounted to 84.8 MEUR and was 
  thus 2.5% above the figure for the second quarter of 2013 (82.7 MEUR). 
  The EBITA margin slightly increased to 5.9% (Q2 2013: 5.7%). 

- The net income reached 66.7 MEUR in the first half of 2014 and was thus 
  well above the very low reference figure for the previous year (+42.2% 
  versus H1 2013: 46.9 MEUR).

ANDRITZ President and CEO Wolfgang Leitner: "Given the overall economic 
situation and the competitive environment, order intake and sales of the 
ANDRITZ GROUP saw solid development. We achieved a significant improvement 
in earnings compared to the previous year's reference period, although 
further improvements are necessary to reach our target figures. We expect 
unchanged project activity in the markets we serve for the current second 
half of the year."

Based on the business development so far, the order backlog, and - compared
to 2013 - additional two months sales contribution by the Schuler Group, 
ANDRITZ expects a slight rise in sales in the 2014 business year compared 
to the previous year. Net income is expected to show a significant 
improvement compared to the low level of 2013.

- End -

Key financial figures of the ANDRITZ GROUP at a glance


                   Unit    H1 2014  H1 2013   +/-     Q2 2014   Q2 2013   +/-
Sales              MEUR    2,659.4  2,610.1   +1.9%   1,439.9   1,446.3   -0.4%
 HYDRO             MEUR      805.5    850.6   -5.3%     442.7     469.4   -5.7%
 PULP & PAPER      MEUR      869.3    932.2   -6.7%     469.7     479.8   -2.1%
 METALS            MEUR      722.3    549.2  +31.5%     389.5     347.2  +12.2%
 SEPARATION        MEUR      262.4    278.1   -5.6%     138.1     149.9   -7.9%

Order intake       MEUR    2,980.2  2,526.0  +18.0%   1,238.0   1,237.7    0.0%
 HYDRO             MEUR      814.7    854.3   -4.6%     291.4     280.1   +4.0%
 PULP & PAPER      MEUR    1,057.2    815.0  +29.7%     402.4     391.5   +2.8%
 METALS            MEUR      797.9    534.5  +49.3%     377.8     390.0   -3.1%
 SEPARATION        MEUR      310.4    322.2   -3.7%     166.4     176.1   -5.5%

Order backlog
(as of end 
of period)         MEUR    7,555.7  7,644.4   -1.2%   7,555.7   7,644.4   -1.2%

EBITDA             MEUR      175.7    136.0  +29.2%     106.2     104.0   +2.1%
EBITDA margin      %           6.6      5.2     -         7.4       7.2     -
EBITA              MEUR      133.4     96.9  +37.7%      84.8      82.7   +2.5%
EBITA margin       %           5.0      3.7     -         5.9       5.7     -

Earnings Before 
Interest a. Taxes
(EBIT)             MEUR       94.4     65.9  +43.2%      65.4      62.8   +4.1%
Financial result   MEUR       -1.7     -3.1  +45.2%      -0.2      -2.0  +90.0%
Earnings Before
Taxes (EBT)        MEUR       92.7     62.8  +47.6%      65.2      60.8   +7.2%
Net income
(without non- 
controlling
interests)         MEUR       66.7     46.9  +42.2%      46.0      42.8   +7.5%

Cash flow from 
operating
activities         MEUR       49.0    -86.5 +156.6%     -12.0      -6.8  -76.5%
Capital 
expenditure        MEUR       34.4     44.4  -22.5%      17.2      23.0  -25.2%
Employees
(as of end of
period; without 
apprentices)       -        24,126   23,849   +1.2%    24,126    23,849   +1.2%

Remark: 
The Schuler Group was consolidated into the consolidated financial statements
of the ANDRITZ GROUP as of March 1, 2013 and is part of the METALS business 
area.

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.

The ANDRITZ GROUP
The ANDRITZ GROUP is a globally leading supplier of plants, 
equipment, and services for hydropower stations, the pulp and paper industry, 
the metalworking and steel industries, and solid/liquid separation in the 
municipal and industrial sectors. The publicly listed, international 
technology Group is headquartered in Graz, Austria, and has a staff of 
around 24,100 employees. ANDRITZ operates over 250 production sites as well 
as service and sales companies all around the world. The ANDRITZ GROUP ranks 
among the global market leaders in all four of its business areas. 
One of the Group's overall strategic goals is to strengthen and extend 
this position. At the same time, the company aims to secure the continuation 
of profitable growth in the long-term.

Annual and financial reports
The annual and financial reports of the ANDRITZ GROUP are available as PDF 
for download at www.andritz.com. Printed copies may be requested free of 
charge from investors@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.

Further inquiry note:
Oliver Pokorny
Head of Corporate Communications
Tel.: +43 316 6902 1332
Fax: +43 316 6902 465
mailto:oliver.pokorny@andritz.com

end of announcement                               euro adhoc 
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company:     Andritz AG
             Stattegger Straße 18
             A-8045 Graz
phone:       +43 (0)316 6902-0
FAX:         +43 (0)316 6902-415
mail:     welcome@andritz.com
WWW:      www.andritz.com
sector:      Machine Manufacturing
ISIN:        AT0000730007
indexes:     WBI, ATX Prime, ATX, ATX five
stockmarkets: official market: Wien 
language:   English
 

 

 

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