EANS-News: ANDRITZ GROUP: Results for the third quarter and first three quarters of 2021
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
--------------------------------------------------------------------------------
Quarterly Report
Graz - November 5, 2021. International technology group ANDRITZ saw good
business development in the third quarter of 2021. Operating result (EBITA) and
profitability increased significantly compared to the previous year's reference
period in spite of the decline in revenue compared to last year's reference
period. Due to the lack of large-scale orders, order intake was just under 1.5
billion euros and thus below the level of the previous year.
Wolfgang Leitner, President & CEO of ANDRITZ AG: "We are pleased with business
development in the first three quarters. At over five billion euros, the Group's
order intake has reached a good level, and earnings and profitability have
increased compared to the previous year's reference period in spite of the
slight drop in revenue. We look towards the coming months with confidence and
see unchanged good project and investment activity in all of the markets we
serve."
The Group's financial key figures:
* At 1,461.0 MEUR, order intake reached a satisfactory level in the third
quarter of 2021, however it was 14.5% below the high level of the previous
year's reference quarter (Q3 2020: 1,708.0 MEUR), which included two large
orders from North America and Asia for the Hydro business area. Order intake
amounted to 5,052.8 MEUR in the first three quarters of 2021 and was 6.5%
higher than the figure for the previous year's reference period (Q1-Q3 2020:
4,744.7 MEUR). Particularly, the Metals business area increased its order
intake significantly compared to the previous year.
* The order backlog as of September 30, 2021 amounted to 7,341.9 MEUR, thus
increasing compared to December 31, 2020 (+8.4% compared to the end of 2020:
6,774.0 MEUR).
* Revenue reached 1,521.5 MEUR in the third quarter of 2021 and was thus well
below the figure for the previous year's reference period (Q3 2020: 1,669.7
MEUR). This decline is largely attributable to the Pulp & Paper business area,
which processed some larger orders with a strong impact on revenue in the
previous year's reference period. Revenue, at 4,548.5 MEUR, was also below the
previous year's reference figure (-6.1% compared to Q1-Q3 2020: 4,842.7 MEUR)
in the first three quarters of 2021.
* At 127.3 MEUR, the EBITA in the third quarter of 2021 was considerably higher
than the figure for the previous year's reference period (Q3 2020: 104.2
MEUR), which included extraordinary effects amounting to 26 MEUR for capacity
adjustments in the Metals Forming segment and the Hydro business area.
Profitability (EBITA margin) reached a very good level at 8.4% (EBITA margin
Q3 2020: 6.2%). The EBITA in the first three quarters of 2021 amounted to
365.0 MEUR (+31.1% compared to Q1-Q3 2020: 278.5 MEUR).
* Net income (without non-controlling interests) increased significantly to 76.2
MEUR (Q3 2020: 52.4 MEUR). In the first three quarters of 2021, net income
(without non-controlling interests) amounted to 212.9 MEUR (Q1-Q3 2020: 137.3
MEUR) and was thus 55% higher than the level of the previous year's reference
period.
OUTLOOK, FINANCIAL GUIDANCE
The ANDRITZ GROUP anticipates good project and investment activity, remaining
largely unchanged compared to the preceding quarters, in all four business areas
for the coming months.
ANDRITZ continues to expect a significant increase in the EBITA reported for the
full year of 2021 compared to the previous year and anticipates profitability
(EBITA margin reported) of around 8% (EBITA margin reported in 2020: 5.8%). A
slight decline in revenue is expected for the full year of 2021 compared to the
previous year.
KEY FINANCIAL FIGURES AT A GLANCE
Unit Q1-Q3 Q1-Q3 +/- Q3 Q3 +/- 2020
2021 2020 2021 2020
Revenue MEUR 4,548.5 4,842.7 -6.1% 1,521.5 1,669.7 -8.9% 6,699.6
- Pulp & Paper MEUR 2,209.4 2,447.3 -9.7% 744.8 851.7 -12.6% 3,339.0
- Metals MEUR 955.3 1,049.0 -8.9% 317.2 350.8 -9.6% 1,420.5
- Hydro MEUR 904.1 892.6 +1.3% 294.6 305.0 -3.4% 1,296.0
- Separation MEUR 479.7 453.8 +5.7% 164.9 162.2 +1.7% 644.1
Order intake MEUR 5,052.8 4,744.7 +6.5% 1,461.0 1,708.0 -14.5% 6,108.0
- Pulp & Paper MEUR 2,314.6 2,416.3 -4.2% 602.3 716.5 -15.9% 2,961.1
- Metals MEUR 1,205.9 842.7 +43.1% 362.3 354.6 +2.2% 1,143.6
- Hydro MEUR 975.3 961.4 +1.4% 320.8 469.0 -31.6% 1,335.4
- Separation MEUR 557.0 524.3 +6.2% 175.6 167.9 +4.6% 667.9
Order backlog (as of MEUR 7,341.9 7,330.1 +0.2% 7,341.9 7,330.1 +0.2% 6,774.0
end of period)
EBITDA MEUR 485.5 404.8 +19.9% 166.9 146.2 +14.2% 571.1
EBITDA margin % 10.7 8.4 - 11.0 8.8 - 8.5
EBITA MEUR 365.0 278.5 +31.1% 127.3 104.2 +22.2% 391.7
EBITA margin % 8.0 5.8 - 8.4 6.2 - 5.8
Earnings Before
Interest and Taxes MEUR 315.3 218.2 +44.5% 111.2 80.8 +37.6% 315.0
(EBIT)
Financial result MEUR -25.3 -26.0 +2.7% -7.1 -7.6 +6.6% -34.1
Earnings Before Taxes MEUR 290.0 192.2 +50.9% 104.1 73.2 +42.2% 280.9
(EBT)
Net income (without
non-controlling MEUR 212.9 137.3 +55.1% 76.2 52.4 +45.4% 207.1
interests)
Cash flow from MEUR 183.7 255.1 -28.0% 30.7 155.1 -80.2% 461.5
operating activities
Capital expenditure MEUR 89.1 87.6 +1.7% 29.0 27.7 +4.7% 131.8
Employees (as of end
of period; without - 26,789 27,786 -3.6% 26,789 27,786 -3.6% 27,232
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
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. Plants for power generation, flue gas cleaning,
recycling, and the production of nonwovens and panelboard complete the global
product and service offering. Innovative products and services in the industrial
digitalization sector are offered under the brand name Metris and help customers
to make their plants more user-friendly, efficient, and profitable. The publicly
listed group has around 26,800 employees and more than 280 locations in over 40
countries.
ANNUAL AND FINANCIAL REPORTS
The annual and financial reports are available for download on the ANDRITZ web
site at 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, Corporate Communications & Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
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