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03.08.2007 – 07:02

Andritz AG

euro adhoc: Andritz AG
quarterly or semiannual financial statement
Andritz: Results for the First Half of 2007 - Increase in Order Intake, Sales, and Net Income - Order Backlog, at over 3.8 bn Euros, provides solid basis for the coming Quarters - Sig

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
6-month report
03.08.2007
Graz, August 3, 2007.  International Technology Group Andritz reports
a very favorable business development for the First Half of 2007, 
with increases in Order Intake as well as in Sales and Net Income 
compared to the reference period of last year.  Order Backlog as of 
30.06.2007 reached a record level of more than 3.8 billion Euros.  
For the full year 2007, Andritz expects to achieve new record 
results, with Group Sales to increase to approximately 3.2 bn Euros 
and Net Income to increase in line with Sales growth.
Increase in Sales During the First Half of 2007, Sales of the Andritz
Group were 1,537.0 MEUR, an increase of 58.9% compared to the 
reference period of last year (H1 2006: 967.5 MEUR).  In particular, 
the Pulp and Paper, the Hydro Power, and the Rolling Mills and Strip 
Processing Lines Business Areas were able to increase their Sales 
compared to the First Half of last year.
Newly acquired companies, which were not included in the consolidated
financial statements of the First Half of 2006, added 334.7 MEUR to 
Group Sales in the First Half of 2007 (of which 331.8 MEUR came from 
VA TECH HYDRO).  Organic growth of the Andritz Group, therefore, 
amounted to 24.3% during the First Half of 2007.
Order Intake up, Order Backlog at record level Group Order Intake for
the First Half of 2007 amounted to 2,037.5 MEUR.  This was an 
increase of 59.5% compared to the First Half of 2006 (1,277.1 MEUR), 
and mainly due to the first-time consolidation of VA TECH HYDRO, 
whose Order Intake developed substantially above expectations, and 
the favorable development of the Pulp and Paper, and the Rolling 
Mills and Strip Processing Lines Business Areas.
During the First Half of 2007, the combined Order Intake of newly 
consolidated companies amounted to 516.6 MEUR, of which 512.6 MEUR 
came from VA TECH HYDRO.
The Group´s Order Backlog as of 30.06.2007 reached a record level of 
3,867.9 MEUR, thus significantly increasing compared to the reference
date of last year (30.06.2006: 2,059.1 MEUR).  This was mainly due to
the consolidation of VA TECH HYDRO, which added 1,738.5 MEUR to the 
Group´s Order Backlog as of 30.06.2007.
Earnings increased In step with higher Sales, Earnings before 
Interest, Taxes, and Amortization of intangibles related to 
acquisitions (EBITA) in the First Half of 2007 increased by 51.5%, to
87.4 MEUR (H1 2006: 57.7 MEUR).  The EBITA margin for this period 
amounted to 5.7%, down compared to the reference period of last year 
(H1 2006: 6.0%).  This is mainly due to the consolidation of VA TECH 
HYDRO and a slight profitability decline of the Pulp and Paper 
Business Area.
Net Income excluding minority interests amounted to 61.6 MEUR, 
exceeding last year´s reference value by 54.4% (H1 2006: 39.9 MEUR).
Balance sheet structure The net worth position and capital structure 
of the Andritz Group as of 30.06.2007 showed no major changes 
compared to 31.12.2006.
Net liquidity (cash and cash equivalents minus interest-bearing 
financial liabilities), at 332.9 MEUR as of 30.06.2007, was still at 
a very high level (31.12.2006: 365.7 MEUR).  The equity ratio as of 
30.06.2007 was 18.1% (31.12.2006: 17.4%).
Outlook for the full year 2007 For the Second Half of 2007, Andritz 
expects project activity to continue to develop favorably in all 
Business Areas.  Wolfgang Leitner, President and CEO of Andritz: "In 
all of our Business Areas, we see a continued good market environment
and thus expect a favorable business development for the remaining 
months of 2007.  Based on the favorable results for the First Half of
2007, Andritz expects Group Sales to increase to approximately 3.2 bn
EUR in 2007. Net Income should increase in line with Sales growth."
Key Figures for the First Half of 2007
(in MEUR)         H1 2006    H1 2007     Change    Q2 2006    Q2 2007    Change
Sales               967.5    1,537.0     +58.9%      515.9      806.1    +56.3%
Order Intake      1,277.1    2,037.5     +59.5%      529.5    1,006.5    +90.1%
Order Backlog
(as of end
of period)        2,059.1    3,867.9     +87.8%    2,059.1    3,867.9    +87.8%
EBITDA 1)            70.2      107.9     +53.7%       37.9       58.4    +54.1%
EBITDA Margin        7.3%       7.0%       -          7.3%       7.2%       -
EBITA 2)             57.7       87.4     +51.5%       31.1       47.6    +53.1%
EBITA Margin         6.0%       5.7%       -          6.0%       5.9%       -
Earnings before
Interest and
Taxes (EBIT)         57.7      84.4      +46.3%       31.1       46.0    +47.9%
Earnings before
Taxes                59.9      87.7      +46.4%       32.0       47.1    +47.2%
Net Income excl.
Minority Interests   39.9      61.6      +54.4%       21.0       33.1    +57.6%
Cash flow from
Operating
Activities          -88.0      34.6     +139.3%      -63.2       -5.1    +91.9%
Capital
Expenditure 3)       13.1      23.1      +76.3%        8.5       12.3    +44.7%
Employees (as of
(end of period)     6,766    10,946      +61.8%      6,766     10,946    +61.8%
1) EBITDA: Earnings before Interest, Taxes, Depreciation and 
Amortization 2) EBITA: Earnings before Interest, Taxes, and 
Amortization of intangibles related to acquisitions 3) Additions to 
property, plant, and equipment and intangible assets
Disclaimer Certain statements contained in this press release 
constitute "forward-looking statements". These statements, which 
contain the words "believe", "intend", "expect" and words of similar 
meaning, reflect management´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.
The Andritz Group Listed Andritz Group is a global market leader for 
advanced production systems for pulp and paper, steel and other 
specialized industries.  Andritz has a staff of approximately 11,000 
employees worldwide.  It develops and makes its high-tech systems at 
35 production sites in Austria, Germany, Finland, Denmark, France, 
Netherlands, USA, Canada and China.
end of announcement                               euro adhoc 03.08.2007 06:30:00

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

Branche: Machine Manufacturing
ISIN: AT0000730007
WKN: 632305
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing

Original content of: Andritz AG, transmitted by news aktuell