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03.05.2018 – 07:01

Andritz AG

EANS-News: ANDRITZ GROUP: Results for the first quarter of 2018

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  Corporate news transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is responsible for the content of this announcement.
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Quarterly Report

Graz -
May 3, 2018. International technology Group ANDRITZ saw mixed business
development in the first quarter of 2018. While the order intake of over 1.5
billion euros was very favorable and almost reached the very high level of last
year's reference period, sales and earnings were significantly lower than the
reference figures for the previous year.

The key financial figures developed as follows:

* Order intake at 1,532.8 million euros (MEUR) reached a very favorable level
  and was thus only slightly below the high level of the previous year's
  reference period (-1.7% versus Q1 2017: 1,560.0 MEUR). The Hydro, Metals, and
  Separation business areas saw very positive development and were able to
  achieve - partially significant - increases in order intake compared to the
  previous year.


* Sales decreased to 1,291.0 MEUR and were thus 6.9% below the level of the
  previous year's reference period (Q1 2017: 1,386.2 MEUR). This is largely due
  to a decline in sales in Pulp & Paper (a large pulp mill project still had a
  significant impact on sales in the previous year's reference period) and
  Metals (decline in sales due to the low order intake in the second and third
  quarter of last year). However, as a result of the Group's increasing order
  intake since the second quarter of 2017 (Q2 2017: 1,211.3 MEUR, Q3 2017:
  1,341.2 MEUR; Q4 2017: 1,467.0 MEUR; Q1 2018: 1,532.8 MEUR), sales in the
  coming months should, from today's perspective, make up for the lower sales
  figure in the first quarter.


* The order backlog as of March 31, 2018, amounted to 6,553.2 MEUR and has thus
  increased slightly compared to the end of 2017 (December 31, 2017: 6,383.0
  MEUR).


* The EBITA amounted to 71.7 MEUR (-26.4% compared to Q1 2017: 97.4 MEUR) and
  was thus significantly lower than the figure for the previous year's reference
  period. The main reason for this is, above all, the lower sales figure.
  Furthermore, cost overruns on individual projects in the Metals business area
  had an impact on earnings. As a result, the Group's profitability (EBITA
  margin) declined to 5.6% (Q1 2017: 7.0%).


* Net income (without non-controlling interests) dropped to 44.0 MEUR (Q1 2017:
  63.0 MEUR).

OUTLOOK
In spite of the decline in sales and earnings during the reporting period,
ANDRITZ expects unchanged an overall satisfactory business development from
today's perspective for the 2018 business year. In the coming months, the rising
order intake since the second quarter of 2017 is expected to make up for the
lower sales in the present reporting period and the related lower earnings.

Wolfgang Leitner, President and CEO of ANDRITZ AG: "In spite of the moderate
development of sales and earnings in the first quarter, we expect solid business
development for the 2018 business year as a whole. The development of order
intake in the past few quarters as well as the good project and investment
activities overall in the markets we serve give us good grounds for optimism."

Key financial figures at a glance
 ____________________________________________________________________________
|_______________________________________|Unit|Q1_2018|Q1_2017|+/-____|2017___|
|Sales_(total)__________________________|MEUR|1,291.0|1,386.2|-6.9%__|5,889.1|
|Hydro__________________________________|MEUR|349.8__|355.9__|-1.7%__|1,583.1|
|Pulp_&_Paper___________________________|MEUR|458.9__|508.7__|-9.8%__|2,059.7|
|Metals_________________________________|MEUR|347.5__|397.5__|-12.6%_|1,643.5|
|Separation_____________________________|MEUR|134.8__|124.1__|+8.6%__|602.8__|
|Order_intake_(total)___________________|MEUR|1,532.8|1,560.0|-1.7%__|5,579.5|
|Hydro__________________________________|MEUR|434.8__|309.5__|+40.5%_|1,317.2|
|Pulp_&_Paper___________________________|MEUR|457.4__|653.3__|-30.0%_|2,033.4|
|Metals_________________________________|MEUR|467.8__|442.7__|+5.7%__|1,606.5|
|Separation_____________________________|MEUR|172.8__|154.5__|+11.8%_|622.4__|
|Order_backlog_(as_of_end_of_period)____|MEUR|6,553.2|6,974.2|-6.0%__|6,383.0|
|EBITDA_________________________________|MEUR|93.8___|120.7__|-22.3%_|541.7__|
|EBITDA_margin__________________________|%___|7.3____|8.7____|-______|9.2____|
|EBITA__________________________________|MEUR|71.7___|97.4___|-26.4%_|444.0__|
|EBITA_margin___________________________|%___|5.6____|7.0____|-______|7.5____|
|Earnings Before Interest               |MEUR|64.4   |86.9   |-25.9% |399.3  |
|and_Taxes_(EBIT)_______________________|____|_______|_______|_______|_______|
|Financial_result_______________________|MEUR|-1.4___|3.4____|-141.2%|1.3____|
|Earnings_Before_Taxes_(EBT)____________|MEUR|63.0___|90.3___|-30.2%_|400.6__|
|Net income                             |MEUR|44.0   |63.0   |-30.2% |263.0  |
|(without_non-controlling_interests)____|____|_______|_______|_______|_______|
|Cash flow from                         |MEUR|-23.4  |147.7  |-115.8%|246.5  |
|operating_activities___________________|____|_______|_______|_______|_______|
|Capital_expenditure____________________|MEUR|22.5___|29.0___|-22.4%_|116.8__|
|Employees (as of end of period; without|-   |25,822 |25,247 |+2.3%  |25,566 |
|apprentices)___________________________|____|_______|_______|_______|_______|

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.

- End -

ANDRITZ GROUP
ANDRITZ is a globally leading supplier of plants, equipment, and services for
hydropower stations, the pulp and paper industry, the metal working and steel
industries, and for solid/liquid separation in the municipal and industrial
segments. Other important fields of business are animal feed and biomass
pelleting, as well as automation, where ANDRITZ offers a wide range of
innovative products and services in the IIoT (Industrial Internet of Things)
sector under the brand name of Metris. In addition, the international technology
Group is active in power generation (steam boiler plants, biomass power plants,
recovery boilers, and gasification plants) and environmental technology (flue
gas cleaning plants) and offers equipment for the production of nonwovens,
dissolving pulp, and panelboard, as well as recycling plants.

A passion for innovative technology, absolute customer focus, reliability, and
integrity are the central values to which ANDRITZ commits. The listed Group is
headquartered in Graz, Austria. With over 160 years of experience, 25,800
employees, and more than 250 locations in over 40 countries worldwide, ANDRITZ
is a reliable and competent partner and helps its customers to achieve their
corporate and sustainability goals.

Annual and financial reports
Annual and Financial reports are available for download at the ANDRITZ web site
andritz.com [http://www.andritz.com/], and printed editions can be requested
free of charge by e-mail to investors@andritz.com [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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issuer:       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
ISIN:         AT0000730007
indexes:      WBI, ATX
stockmarkets: Wien
language:     English
 

Original content of: Andritz AG, transmitted by news aktuell