Andritz AG

EANS-News: ANDRITZ GROUP: results for the first half of 2015

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6-month report

Graz, August 7, 2015.  International technology Group ANDRITZ showed solid 
business development in the first half of 2015 in a still challenging overall 
economic environment. The key financial figures developed as follows:

- In the first half of 2015, sales amounted to 3,005.6 MEUR, which is an 
  increase of 13.0% compared to the previous year's reference period 
  (H1 2014: 2,659.4 MEUR). In the second quarter of 2015, sales rose by 11.2% 
  compared to last year's reference figure, reaching 1,601.3 MEUR (Q2 2014: 
  1,439.9 MEUR). 

- Order intake amounted to 2,580.0 MEUR in the first half of 2015 (-13.4% 
  versus H1 2014: 2,980.2 MEUR). While the order intake in the HYDRO business 
  area only dropped slightly (-2.5% versus H1 2014), order intake in the other
  business areas dropped - in some cases substantially: PULP & PAPER -14.0%, 
  METALS -25.4%, SEPARATION -9.5%. In the second quarter of 2015, order intake 
  amounted to 1,149.4 MEUR (-7.2% versus Q2 2014: 1,238.0 MEUR).

- The order backlog as of June 30, 2015, amounted to 7,349.0 MEUR (-2.2% versus 
  December 31, 2014: 7,510.6 MEUR).
       
- Earnings and profitability developed favorably. In the first half of 2015, 
  the EBITA rose by 38.6% to 184.9 MEUR (H1 2014: 133.4 MEUR) and the EBITA 
  margin to 6.2% (H1 2014: 5.0%). In the second quarter of 2015, the EBITA 
  amounted to 111.5 MEUR (+31.5% versus Q2 2014: 84.8 MEUR), and the EBITA 
  margin increased to 7.0% (Q2 2014: 5.9%). This positive development is mainly 
  due to the HYDRO and PULP & PAPER business areas, which achieved a 
  substantial increase in profitability compared to the previous year's 
  reference period.

- Net income (without non-controlling interests) rose considerably in the 
  first half of 2015 and amounted to 113.9 MEUR (+70.8% versus H1 2014: 
  66.7 MEUR).

Wolfgang Leitner, President and CEO of ANDRITZ: "In view of the unchanged 
difficult economic environment, we are satisfied with the business development 
in the first half of 2015. However, project and investment activity has slowed 
down in some of our end markets, in some cases substantially, and this activity 
has also become increasingly volatile. Hence, we shall continue the structural 
measures already implemented in the past few years in order to adapt our value 
chain to these changed market conditions and thus increase our flexibility."

Based on the current project activity in the ANDRITZ business areas and on the
order backlog as of the end of June 2015, ANDRITZ currently expects an increase
in sales and net income for the 2015 business year compared to the previous 
year. If, however, the economic weakness in the emerging countries 
(particularly in China) continues in the coming months, the global economy 
suffers any severe setbacks, or there is major turmoil in the international 
foreign currency and financial markets, this could have a negative impact on
ANDRITZ's business development. This could necessitate organizational and 
capacity adjustments in individual business areas and thus result in financial 
provisions that could negatively impact the earnings of the ANDRITZ GROUP.

- End -

Key financial figures of the ANDRITZ GROUP at a glance


(in MEUR)       H1 2015   H1 2014   +/-     Q2 2015  Q2 2014   +/-      2014
Sales           3,005.6   2,659.4   +13.0%  1,601.3  1,439.9   +11.2%   5,859.3
 HYDRO            866.3     805.5   +7.5%     458.4    442.7   +3.5%    1,752.3
 PULP & PAPER   1,043.9     869.3   +20.1%    563.4    469.7   +19.9%   1,969.3
 METALS           796.1     722.3   +10.2%    419.0    389.5   +7.6%    1,550.4
 SEPARATION       299.3     262.4   +14.1%    160.5    138.1   +16.2%     587.3

Order intake    2,580.0   2,980.2   -13.4%  1,149.4  1,238.0   -7.2%    6,101.0
 HYDRO            794.7     814.7   -2.5%     347.7    291.4   +19.3%   1,816.7
 PULP & PAPER     908.9   1,057.2   -14.0%    446.5    402.4   +11.0%   1,995.7
 METALS           595.4     797.9   -25.4%    210.5    377.8   -44.3%   1,692.8
 SEPARATION       281.0     310.4   -9.5%     144.7    166.4   -13.0%     595.8

Order backlog
(as of end 
of period)      7,349.0   7,555.7   -2.7%   7,349.0  7,555.7   -2.7%    7,510.6

EBITDA            230.9     175.7   +31.4%    134.8    106.2   +26.9%     472.0
EBITDA margin (%)   7.7       6.6      -        8.4      7.4      -         8.1

EBITA             184.9     133.4   +38.6%    111.5     84.8   +31.5%     379.5
EBITA margin (%)    6.2       5.0      -        7.0      5.9      -         6.5

Earnings Before
Interest and
Taxes(EBIT)       159.6      94.4   +69.1%     98.1     65.4   +50.0%     295.7

Financial result    6.7      -1.7   +494.1%     5.6     -0.3   +1,966.7%    3.7

Earnings Before 
Taxes (EBT)       166.4      92.7   +79.5%    103.8     65.2   +59.2%     299.4

Net income 
(without non- 
controlling
interests)        113.9       66.7   +70.8%     69.9    46.0   +52.0%     210.9

Cash flow from 
operating 
activities         -7.8       49.0   -115.9%   -45.0   -12.0  -275.0%     342.1

Capital 
expenditure        36.3       34.4   +5.5%      15.5    17.2  -9.9%       106.5

Employees 
(as of end of 
period; without 
apprentices)     24,992     24,126   +3,6%    24,992  24,126  +3.6%      24,853


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.

Press release for download 
The press release is available for download at www.andritz.com/news.

The ANDRITZ GROUP
ANDRITZ is a globally leading supplier of plants, equipment, and services for 
hydropower stations, the pulp and paper industry, the metalworking and steel 
industries, and for solid/liquid separation in the municipal and industrial 
sectors. The publicly listed technology Group is headquartered in Graz, 
Austria, and has a staff of almost 25,000 employees. ANDRITZ operates over 
250 sites worldwide.

Annual and financial reports
The annual reports and financial reports of the ANDRITZ GROUP are available 
as PDF for download at www.andritz.com. Printed copies can be requested by 
e-mail to 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:
Dr. Michael Buchbauer
Head of Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@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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