Andritz AG

EANS-News: ANDRITZ GROUP: solid business development in the third quarter of 2014

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9-month report

Graz, November 6, 2014.  In the third quarter of 2014, international technology
Group ANDRITZ showed solid business development in an unchanged challenging 
economic environment:

- Sales amounted to 1,463.5 MEUR in the third quarter of 2014 and were thus 
  below the level of the previous year's reference period (Q3 2013: 1,534.5
  MEUR); the decline of 4.6% is mainly due to a project-related drop in sales 
  in the PULP & PAPER and the METALS business areas. In the first three 
  quarters of 2014, sales of the Group amounted to 4,122.9 MEUR and thus 
  practically reached last year's reference figure (-0.5% versus Q1-Q3 2013: 
  4,144.6 MEUR).

- The order intake in the third quarter of 2014 amounted to 1,591.5 MEUR, 
  which is 4.3% higher than the very good level in the third quarter of 2013 
  (1,525.3 MEUR). This positive development is attributable to the METALS 
  business area, where several larger orders were secured in the metalforming 
  (Schuler) and aluminum sectors. In the first three quarters of 2014, the 
  order intake of the Group saw very favorable development: At 4,571.6 MEUR, 
  order intake was 12.8% higher than in the previous year's reference period 
  (Q1-Q3 2013: 4,051.3 MEUR) - with the Schuler Group contributing 916.3 MEUR 
  (Q1-Q3 2013: 657.8 MEUR); however, Schuler was only included in the last 
  year's reference period from March 1, 2013 (date of first-time consolidation).
  Excluding Schuler, the Group's order intake would have increased by 7.7%.

- As of September 30, 2014, the order backlog amounted to 7,702.2 MEUR - 
  an increase of 4.2% compared to the end of 2013 (December 31, 2013: 7,388.5 
  MEUR).
       
- In the third quarter of 2014, the EBITA amounted to 101.0 MEUR and was thus 
  44.1% higher than the low level of the previous year's reference period 
  (Q3 2013: 70.1 MEUR), which was impacted negatively by additional costs 
  in the PULP & PAPER and the SEPARATION business areas. The Group's EBITA 
  margin also increased substantially to 6.9% (Q3 2013: 4.6%). In the first 
  three quarters of 2014, the EBITA amounted to 234.4 MEUR (+40.4% versus 
  Q1-Q3 2013: 167.0 MEUR) and the EBITA margin was 5.7% (Q1-Q3 2013: 4.0%).

- The net income of the Group in the first three quarters of 2014 amounted 
  to 123.6 MEUR and was thus significantly higher than the previous year's 
  reference value (Q1-Q3 2013: 78.8 MEUR).

On the basis of this business development, the current order backlog, and 
the sales contribution by the Schuler Group, which was not included in the 
accounts for the full twelve months in 2013, ANDRITZ expects a slight rise 
in sales in the 2014 business year compared to the previous year. A 
significant improvement is expected in the net income compared to the low 
level of 2013.

- End -


Key financial figures of the ANDRITZ GROUP at a glance


                  Unit    Q1-Q3 '14  Q1-Q3 '13  +/-    Q3 '14  Q3 '13      +/-
Sales             MEUR    4,122.9    4,144.6    -0.5%  1,463.5 1,534.5     -4.6%
 HYDRO            MEUR    1,232.2    1,301.5    -5.3%    426.8   450.9     -5.3%
 PULP & PAPER     MEUR    1,369.9    1,456.7    -6.0%    500.6   524.5     -4.6%
 METALS           MEUR    1,111.8      962.9   +15.5%    389.5   413.7     -5.8%
 SEPARATION       MEUR      409.0      423.5    -3.4%    146.6   145.4     +0.8%

Order intake      MEUR    4,571.6    4,051.3   +12.8%  1,591.5 1,525.3     +4.3%
 HYDRO            MEUR    1,166.0    1,221.6    -4.6%    351.4   367.3     -4.3%
 PULP & PAPER     MEUR    1,629.6    1,417.3   +15.0%    572.4   602.3     -5.0%
 METALS           MEUR    1,328.1      958.3   +38.6%    530.2   423.8    +25.1%
 SEPARATION       MEUR      447.9      454.1    -1.4%    137.5   131.9     +4.2%

Order backlog
(as of end 
of period)        MEUR    7,702.2    7,464.5    +3.2%  7,702.2 7,464.5     +3.2%

EBITDA            MEUR      298.9      229.3   +30.4%    123.2    93.3    +32.0%
EBITDA margin     %           7.2        5.5      -        8.4     6.1      -
EBITA             MEUR      234.4      167.0   +40.4%    101.0    70.1    +44.1%
EBITA margin      %           5.7        4.0      -        6.9     4.6      -
 
Earnings Before 
Interest and 
Taxes(EBIT)       MEUR      176.0       116.2  +51.5%     81.6    50.3    +62.2%

Financial result  MEUR       -1.7        -5.4  +68.5%      0.0    -2.3   +100.0%

Earnings Before 
Taxes (EBT)       MEUR      174.3       110.8  +57.3%     81.6    48.0    +70.0%

Net income 
(without non- 
controlling
interests)        MEUR      123.6        78.8  +56.9%     56.9    31.9    +78.4%

Cash flow from 
operating
activities        MEUR      225.6       -81.1 +378.2%    176.6     5.4 +3,170.4%

Capital
expenditure       MEUR       61.9        65.5   -5.5%     27.4    21.1    +29.9%

Employees
(as of end of 
(period; without 
apprentices)      -        24,468      23,939   +2.2%   24,468  23,939     +2.2%

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.

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 
24,500 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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