EQS-News: Andritz AG / Key word(s): 9 Month figures/Quarter Results
ANDRITZ reports solid development in Q3 2024
31.10.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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GRAZ, OCTOBER 31, 2024 International technology group ANDRITZ reported solid
business development in the third quarter of 2024 despite the continuously
challenging economic environment.
While order intake increased from the third quarter of 2023, profitability (EBITA
margin) remained stable, and revenue declined slightly. The increase in order intake
was driven by several mid-sized orders in the Hydropower and Metals business areas.
E-mobility, hydropower upgrades, and engineering studies
The order intake in Q3 included an annealing and coating line and a cold rolling
mill to produce non-grain oriented electrical steel (NOES), supporting the
automotive industry’s electrification journey toward more sustainable
transportation. In the Hydropower business area, several plant upgrades, including
the major rehabilitation of the Chenderoh plant in Malaysia, contributed to the
third-quarter order intake.
In addition, customers entrusted ANDRITZ with engineering studies for innovative
solutions, enabling the green transition in various industries. ANDRITZ was selected
to perform the front-end engineering design (FEED) for a carbon capture plant for
the Finnish company Westenergy. E.ON Hydrogen ordered an engineering study for an
electrolyzer plant to produce green hydrogen in Germany.
ANDRITZ CEO Joachim Schönbeck commented: “In view of the continued challenging
economic environment, we are satisfied with the order intake in the third quarter
and pleased that we were able to maintain our profitability at last year’s level
despite the decline in revenue.”
Due to the continuing market weakness, ANDRITZ has initiated capacity adjustments
across industries and regions. The situation is particularly challenging in the
automotive sector, where structural changes are affecting ANDRITZ’s subsidiary
Schuler in Germany.
Revenue guidance slightly adjusted
Although project activity has picked up in several markets, ANDRITZ does not expect
a quick recovery of the markets. Considering these continuously difficult market
conditions and the financial performance in the first three quarters of 2024,
ANDRITZ has adjusted its outlook for the year 2024 from stable revenue and
profitability (EBITA margin) to slightly decreasing revenue and stable
profitability.
The key financial figures developed as follows during the reporting period:
• Order intake in the third quarter of 2024 increased to 1,903.1 MEUR (+5.5% vs.
Q3 2023: 1,803.5 MEUR). In the first three quarters of 2024, order intake
amounted to 5,748.5 MEUR (-11.8% vs. Q1-Q3 2023: 6,516.0 MEUR). The increase in
the third quarter is mainly due to orders in Hydropower (+38.1%) and Metals
(+43.7%). Order intake in Pulp & Paper decreased to 482.9 MEUR in Q3 2024
compared to 598.4 MEUR in Q3 2023 (-19.3%). Environment & Energy saw a decrease
to 338.9 MEUR compared to the high level of 440.0 MEUR in Q3 2023 (-23.0%),
which was driven by the booking of the group’s first green hydrogen order. Order
intake in the first three quarters of 2024 increased significantly (+13.4% vs.
Q1-Q3 2023).
• The order backlog as of September 30, 2024 amounted to 9,382.5 MEUR, decreasing
by 5.0% compared to the end of 2023 (9,872.6 MEUR).
• Revenue in the third quarter of 2024 decreased by 3% compared to the previous
year’s reference period (Q3 2023: 2,104.1 MEUR), reaching 2,041.5 MEUR. In Q1-Q3
2024, revenue amounted to 6,028.1 MEUR (-3.0% vs. Q1-Q3 2023: 6,213.1 MEUR).
Environment & Energy achieved a significant increase in revenue (+13.5%), driven
by the execution of the high order backlog, while the other business areas
showed a stable or declining development.
• The operating result (EBITA) in the third quarter of 2024 remained resilient at
174.1 MEUR (-1.3% vs. Q3 2023: 176.4 MEUR), and profitability (EBITA margin)
remained stable at 8.5% (Q3 2023: 8.4%). In the first three quarters of 2024,
EBITA amounted to 507.1 MEUR, almost unchanged compared to the previous year’s
reference period (-0.4% vs. Q1-Q3 2023: 509.0 MEUR). The EBITA margin remained
at a very solid level of 8.4% (Q1-Q3 2023: 8.2%).
• Net income (including non-controlling interests) decreased to 118.4 MEUR in the
third quarter of 2024 (-5.0% vs. Q3 2023: 124.6 MEUR) and amounted to 342.2 MEUR
in the first three quarters of 2024 (-1.1% vs. Q1-Q3 2023: 346.1 MEUR).
Key financial figures at a glance
Q1-Q3 Q1-Q3 Q3 Q3
Unit 2024 2023 +/- 2024 2023 +/- 2023
Revenue MEUR 6,028.1 6,213.1 -3.0% 2,041.5 2,104.1 -3.0% 8,660.0
- Pulp & Paper MEUR 2,605.3 2,875.4 -9.4% 867.3 966.2 -10.2% 3,987.4
- Metals MEUR 1,350.2 1,348.2 +0.1% 456.2 456.0 0.0% 1,839.6
- Hydropower MEUR 1,032.5 1,073.4 -3.8% 368.8 362.9 +1.6% 1,521.7
- Environment &
Energy MEUR 1,040.1 916.1 +13.5% 349.2 319.0 +9.5% 1,311.3
Order intake MEUR 5,748.5 6,516.0 -11.8% 1,903.1 1,803.5 +5.5% 8,551.9
- Pulp & Paper MEUR 1,968.2 2,387.4 -17.6% 482.9 598.4 -19.3% 3,036.0
- Metals MEUR 1,304.2 1,618.3 -19.4% 634.1 441.3 +43.7% 1,997.7
- Hydropower MEUR 1,228.9 1,410.4 -12.9% 447.2 323.8 +38.1% 2,020.9
- Environment &
Energy MEUR 1,247.2 1,099.9 +13.4% 338.9 440.0 -23.0% 1,497.3
Order backlog
(as of end of period) MEUR 9,382.5 10,361.2 -9.4% 9,382.5 10,361.2 -9.4% 9,872.6
EBITDA MEUR 634.9 632.8 +0.3% 211.5 217.5 -2.8% 910.2
EBITDA margin % 10.5 10.2 - 10.4 10.3 - 10.5
EBITA MEUR 507.1 509.0 -0.4% 174.1 176.4 -1.3% 741.9
EBITA margin % 8.4 8.2 - 8.5 8.4 - 8.6
Comparable EBITA MEUR 510.1 513.2 -0.6% 181.5 177.9 +2.0% 757.1
Comparable EBITA
margin % 8.5 8.3 - 8.9 8.5 - 8.7
Earnings Before
Interest
and Taxes (EBIT) MEUR 469.7 472.7 -0.6% 160.5 164.2 -2.3% 685.2
Financial result MEUR -9.7 -1.8 -438.9% -1.1 5.0 -122.0% 3.0
Earnings Before Taxes
(EBT) MEUR 460.0 470.9 -2.3% 159.4 169.2 -5.8% 688.2
Net income (including
non-controlling
interests) MEUR 342.2 346.1 -1.1% 118.4 124.6 -5.0% 504.3
Cash flow from
operating activities MEUR 404.0 74.9 n.a. 95.5 154.2 n.a. 375.0
Capital expenditure MEUR 156.5 157.7 -0.8% 49.5 64.4 -23.1% 226.2
Employees (as of end
of period;
without apprentices) - 30,171 29,819 +1.2% 30,171 29,819 +1.2% 29,717
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 (1)andritz.com/news on the ANDRITZ
web site.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Niklas Jelinek
External Communications Lead / Media Relations
(2)press@andritz.com
(3)andritz.com
Matthias Pfeifenberger
Head of Investor Relations
(4)investors@andritz.com
(5)andritz.com
ANDRITZ GROUP
International technology group ANDRITZ offers a broad portfolio of innovative
plants, equipment, systems, services and digital solutions for a wide range of
industries and end markets. Sustainability is an integral part of the company’s
business strategy and corporate culture. With its extensive portfolio of sustainable
products and solutions, ANDRITZ aims to make the greatest possible contribution to a
sustainable future and help its customers achieve their sustainability goals.
ANDRITZ is a global market leader in all four of its business areas – Pulp & Paper,
Metals, Hydropower and Environment & Energy. Technological leadership and global
presence are cornerstones of the group’s strategy, which is focused on long-term
profitable growth. The publicly listed group has around 30,000 employees and over
280 locations in more than 80 countries.
ANNUAL AND FINANCIAL REPORTS
The annual and financial reports are available for download on the ANDRITZ web site
at (6)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.
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31.10.2024 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com
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Language: English
Company: Andritz AG
Stattegger Straße 18
8045 Graz
Austria
Phone: +43 (0)316 6902-0
Fax: +43 (0)316 6902-415
E-mail: welcome@andritz.com
Internet: www.andritz.com
ISIN: AT0000730007
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 2019281
End of News EQS News Service
2019281 31.10.2024 CET/CEST
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