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EANS-News: ANDRITZ GROUP: Results for the third quarter and first three quarters of 2020

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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 -
NOVEMBER 5, 2020. International technology Group ANDRITZ showed solid business
development in the third quarter of 2020 in spite of the unchanged, difficult
overall economic environment. Order intake reached a high level at slightly more
than 1.7 billion euros, with several important reference orders secured in all
business areas. Although sales declined slightly compared to the previous year's
reference period, the operating result (EBITA) excluding extraordinary effects
(provisions for capacity adjustments) and profitability increased significantly
compared to 2019.

Wolfgang Leitner, CEO of ANDRITZ AG: "We are very pleased with business
development in the first three quarters. Thanks to the great commitment by our
employees around the world in conjunction with cost discipline, we have been
able to master the many challenges caused by the COVID-19 crisis very well so
far. We will also continue our endeavors to cushion the effects of the global
economic crisis as best possible and ensure our long-term competitive position".

The Group's financial key figures:

* Order intake at 1,708.0 MEUR reached a solid level in the third quarter of
  2020, although it was 18.4% below the level of the previous year's reference
  period (Q3 2019: 2,093.9 MEUR), which included a large order in the Pulp &
  Paper business area. Order intake developed favorably in the Hydro business
  area, which succeeded in booking two large orders from North America and Asia.
  Metals Forming (Schuler) was also able to secure some important orders to
  supply presses and press lines for electromobility. Although order intake at
  4,744.7 MEUR was 18.2% lower than in the previous year's reference period (Q1-
  Q3 2019: 5,799.1 MEUR) in the first three quarters of 2020, it reached the
  second-highest level ever for the first three quarters of a year.

* The order backlog as of September 30, 2020 amounted to 7,330.1 MEUR, thus
  declining slightly compared to December 31, 2019 (-5.8% compared to the end of
  2019: 7,777.6 MEUR).

* Revenue declined only slightly in the third quarter of 2020, reaching 1,669.7
  MEUR (Q3 2019: 1,690.2 MEUR). The Pulp & Paper business area recorded a
  substantial increase in revenue due to the processing of several large orders
  and thus substantially contributed to Group revenue. Revenue at 4,842.7 MEUR
  was higher than the previous year's reference figure (+1.9% versus Q1-Q3 2019:
  4,752.6 MEUR) in the first three quarters of 2020.

* At 104.2 MEUR, the EBITA in the third quarter of 2020 was much higher than the
  figure for the previous year's reference period (Q3 2019: 6.4 MEUR), which
  included provisions of around 95 MEUR for restructuring measures in Metals
  Forming (Schuler) as well as for smaller capacity adjustments in the other
  business areas. Provisions were also booked during the reporting period for
  smaller capacity adjustments, primarily for Metals Forming and the Hydro
  business area and, to a lesser extent, for the other business areas as well.
  Excluding these extraordinary effects of around 26 MEUR, the EBITA in the
  third quarter was 130.3 MEUR, and profitability (EBITA margin) reached a very
  favorable level at 7.8% (adjusted EBITA margin Q3 2019: 6.0%). The EBITA in
  the first three quarters of 2020 amounted to 278.5 MEUR (+51.4% compared to
  Q1-Q3 2019: 183.9 MEUR).

* Net income (without non-controlling interests) increased significantly to 52.4
  MEUR (Q3 2019: -31.0 MEUR). In the first three quarters of 2020, the net
  income (without non-controlling interests) amounted to 137.3 MEUR (Q1-Q3 2019:
  46.5 MEUR).

OUTLOOK
In view of the favorable earnings development in the first three quarters and on
the basis of the current order backlog, ANDRITZ now expects approximately the
same level of profitability (EBITA margin) excluding extraordinary effects
(provisions for capacity adjustments) for the entire year 2020 from today's
perspective (EBITA margin 2019 excluding extraordinary effects: 6.8%).
Profitability including extraordinary effects (EBITA margin reported for 2020)
is expected to remain stable or increase slightly from today's perspective
compared to the previous year (EBITA margin reported for 2019: 5.1%).

The guidance provided for revenue development published with the results for the
second quarter of 2020 remains unchanged. From today's perspective, ANDRITZ
expects slightly lower revenue for the 2020 business year compared to 2019
(6,674 MEUR).

However, if the infection rates continue to rise worldwide in the coming weeks
and months and additional countries or regions impose lockdowns, this could have
negative effects on the processing of orders and on order intake and hence, a
negative effect on ANDRITZ's financial development. In addition to the
provisions for capacity adjustments considered in the fourth quarter of 2020 and
in the above guidance, this could create a need for further financial provisions
for additional adjustments in individual business areas that could have a
negative effect on the earnings of the ANDRITZ GROUP.

KEY FINANCIAL FIGURES AT A GLANCE

             Unit Q1-Q3   Q1-Q3 2019 +/-     Q3 2020 Q3 2019 +/-       2019
                  2020
Revenue      MEUR 4,842.7 4,752.6    +1.9%   1,669.7 1,690.2 -1.2%     6,673.9
- Pulp &     MEUR 2,447.3 2,060.9    +18.7%  851.7   750.6   +13.5%    2,869.5
Paper
- Metals     MEUR 1,049.0 1,181.4    -11.2%  350.8   422.7   -17.0%    1,636.9
- Hydro      MEUR 892.6   1,026.8    -13.1%  305.0   351.2   -13.2%    1,470.7
- Separation MEUR 453.8   483.5      -6.1%   162.2   165.7   -2.1%     696.8
Order intake MEUR 4,744.7 5,799.1    -18.2%  1,708.0 2,093.9 -18.4%    7,282.0
- Pulp &     MEUR 2,416.3 3,089.0    -21.8%  716.5   1,163.3 -38.4%    3,632.5
Paper
- Metals     MEUR 842.7   1,238.8    -32.0%  354.6   429.0   -17.3%    1,582.2
- Hydro      MEUR 961.4   944.8      +1.8%   469.0   343.0   +36.7%    1,350.2
- Separation MEUR 524.3   526.5      -0.4%   167.9   158.6   +5.9%     717.1
Order
backlog (as  MEUR 7,330.1 8,120.7    -9.7%   7,330.1 8,120.7 -9.7%     7,777.6
of end of
period)
EBITDA       MEUR 404.8   329.9      +22.7%  146.2   67.2    +117.6%   537.6
EBITDA       %    8.4     6.9        -       8.8     4.0     -         8.1
margin
EBITA        MEUR 278.5   183.9      +51.4%  104.2   6.4     +1,528.1% 343.2
EBITA margin %    5.8     3.9        -       6.2     0.4     -         5.1
Earnings
Before       MEUR 218.2   93.8       +132.6% 80.8    -35.1   +330.2%   237.9
Interest and
Taxes (EBIT)
Financial    MEUR -26.0   -35.7      +27.2%  -7.6    -14.9   +49.0%    -57.0
result
Earnings
Before Taxes MEUR 192.2   58.1       +230.8% 73.2    -50.0   +246.4%   180.9
(EBT)
Net income
(without
non-         MEUR 137.3   46.5       +195.3% 52.4    -31.0   +269.0%   127.8
controlling
interests)
Cash flow
from         MEUR 255.1   439.2      -41.9%  155.1   167.3   -7.3%     821.6
operating
activities
Capital      MEUR 87.6    96.9       -9.6%   27.7    34.9    -20.6%    157.1
expenditure
Employees
(as of end
of period;   -    27,786  29,690     -6.4%   27,786  29,690  -6.4%     29,513
without
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 -

PRESS RELEASE AVAILABLE FOR DOWNLOAD
This press release is available for download at andritz.com/news.

ANDRITZ GROUP
International technology group ANDRITZ offers a broad portfolio of innovative
plants, equipment, systems and services for the pulp and paper industry, the
hydropower sector, the metals processing and forming industry, pumps, solid/
liquid separation in the municipal and industrial sectors, as well as animal
feed and biomass pelleting. The global product and service portfolio is rounded
off with plants for power generation, recycling, the production of nonwovens and
panelboard, as well as automation and digital solutions offered under the brand
name of Metris. The publicly listed group today has around 27,800 employees and
more than 280 locations in over 40 countries.

ANNUAL AND FINANCIAL REPORTS
Annual and Financial reports are available for download at the ANDRITZ web site
andritz.com, and printed editions can be requested free of charge 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 Group Finance
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 von: Andritz AG, übermittelt durch news aktuell

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