Andritz AG

EANS-News: ANDRITZ GROUP: results for the 2013 business year

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.

annual result

Graz (euro adhoc) - Graz, February 28, 2014.  International technology Group
ANDRITZ looks back on
a disappointing 2013 business year. Although the HYDRO and METALS (including 
Schuler) business areas saw very positive development, the results of the 
PULP & PAPER and SEPARATION business areas were unsatisfactory. Together with
expected expenses and provisions for the structural improvement program at 
Schuler, this resulted in a substantial decline in the ANDRITZ GROUP's 
earnings and profitability in 2013 compared to the preceding year. The main 
financial developments in detail:

- Sales of the ANDRITZ GROUP amounted to 5,710.8 MEUR and were thus 10.3% 
  higher than the reference figure for the previous year (2012: 5,176.9 MEUR).
  This increase is due to consolidation of the Schuler Group, which has 
  contributed 966.6 MEUR in sales since its first-time consolidation as of 
  March 1, 2013.

- The order intake rose by 13.9% compared to the previous year, reaching 
  5,611.0 MEUR (2012: 4,924.4 MEUR), with the Schuler Group contributing 
  868.4 MEUR. The order intake of all four business areas reached a 
  satisfactory level.

- The order backlog amounted to 7,388.5 MEUR as of December 31, 2013, an 
  increase of 11.7% compared to the end of last year (December 31, 2012: 
  6,614.8 MEUR). The Schuler Group contributed 1,040.4 MEUR to the Group's 
  order backlog.

- Earnings (EBITA) amounted to 164.1 MEUR and were thus 54.1% below the 
  reference figure for the previous year (2012: 357.8 MEUR). Profitability 
  (EBITA margin) declined to 2.9% (2012: 6.9%). The main reasons for this 
  substantial decline are high expenses and provisions in the PULP & PAPER
  business area for cost overruns in connection with supplies to a pulp mill
  in South America as well as planned exceptional expenses and provisions 
  for the structural improvement program at Schuler. Furthermore, additional
  costs for the market launch of a new product series in China as well as 
  the moderate investment activity in the mining and chemical industries 
  led to a considerable decline in earnings in the SEPARATION business area.

- Net income without non-controlling interests amounted to 66.6 MEUR 
  (-72.6% vs. 2012: 242.7 MEUR).

- Due to consolidation of the Schuler Group, total assets of the ANDRITZ 
  GROUP increased to 5,571.4 MEUR (year-end 2012: 5,161.0 MEUR). Due to 
  the acquisition of Schuler, the net liquidity, at 893.1 MEUR, declined 
  significantly compared to the reference figure as of the end of 2012 
  (1,285.7 MEUR).

- In line with the earnings development, the Executive Board will propose a 
  decrease in dividend to 0.50 EUR per share for the 2013 business year 
  (2012: 1.20 EUR) at the Annual General Meeting on March 21, 2014, 
  corresponding to a payout ratio of approximately 78% (2012: approximately 

Referring to the outlook for the 2014 business year, Wolfgang Leitner, 
President and CEO of ANDRITZ AG, says: "We do not anticipate any significant
recovery in the global economy in 2014 and thus expect practically unchanged
investment and project activity compared to 2013 in the markets served by 
ANDRITZ, with some major projects likely to be awarded in the hydro and pulp

On the basis of these expectations, the order backlog, and the sales 
contribution by acquisitions not included in the full twelve-month period 
in 2013, the ANDRITZ GROUP expects a slight rise in sales in 2014 compared 
to the previous year. The net income of the Group is currently expected to 
see a significant improvement in 2014 compared to the low earnings in 2013.

- End -

Key financial figures of the ANDRITZ GROUP at a glance

(in MEUR)               2013     2012*     +/-     Q4 2013   Q4 2012*  +/-
Sales                   5,710.8  5,176.9   +10.3%  1,566.2   1,473.6   +6.3%
  HYDRO                 1,804.8  1,836.8   -1.7%     503.3     591.1   -14.9%
  PULP & PAPER          2,005.3  2,282.2   -12.1%    548.6     557.4   -1.6%
  METALS                1,311.0    404.7   +223.9%   348.1     110.3   +215.6%
  SEPARATION              589.7    653.2   -9.7%     166.2     214.7   -22.6%

Order intake            5,611.0  4,924.4   +13.9%  1,559.7   1,131.2   +37.9%
  HYDRO                 1,865.4  2,008.4   -7.1%     643.8     503.8   +27.8%
  PULP & PAPER          1,907.7  1,962.4   -2.8%     490.4     439.1   +11.7%
  METALS                1,233.8    324.2   +280.6%   275.5      53.4   +415.9%
  SEPARATION              604.1    629.4   -4.0%     150.0     134.9   +11.2%

Order backlog
(as of end of period)   7,388.5  6,614.8   +11.7%  7,388.5   6,614.8   +11.7%

EBITDA                    255.2    418.6   -39.0%     25.9     132.5   -80.5%
EBITDA margin               4.5%     8.1%     -        1.7%      9.0%     -

EBITA                     164.1    357.8   -54.1%     -2.9     115.7   -102.5%
EBITA margin                2.9%     6.9%     -       -0.2%      7.9%     -

EBIT                       89.8    334.5   -73.2%    -26.4     110.5   -123.9%

Financial result           -9.5     -4.1   -131.7%    -4.1     -11.1   +63.1%

EBT                        80.3    330.4   -75.7%    -30.5      99.4   -130.7%

Net income
(without non-
controlling interests)     66.6    242.7   -72.6%    -12.2      75.5   -116.2%

Cash flow from
operating activities       93.7    346.5   -73.0%    174.8     124.7   +40.2%

Capital expenditure       111.4    109.1   +2.1%      45.9      56.8   -19.2%

(as of end of 
period; without
apprentices)             23,713   17,865   +32.7%   23,713    17.865   +32.7%

* Adjusted to comply with IAS 19 and IFRS 3

The Schuler Group was consolidated into the consolidated financial statements
of the ANDRITZ GROUP as of March 1, 2013; no pro forma figures are available
for the reference periods of last year.

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.

The ANDRITZ GROUP is a globally leading supplier of plants, equipment, 
and services for hydropower stations, the pulp and paper industry, the 
metalworking and steel industries, and solid/liquid separation in the 
municipal and industrial sectors. In addition, ANDRITZ offers technologies 
for certain other sectors including automation, the production of animal 
feed and biomass pellets, pumps, machinery for nonwovens and plastic films, 
steam boiler plants, biomass boilers and gasification plants for energy 
generation, flue gas cleaning plants, plants for the production of 
panelboards (MDF), thermal sludge utilization, and biomass torrefaction 
plants. The publicly listed, international technology Group is headquartered
in Graz, Austria, and has a staff of around 23,700 employees. ANDRITZ 
operates over 220 production sites as well as service and sales companies 
all around the world.

Annual and financial reports
The annual reports and financial reports of the ANDRITZ GROUP are available 
as PDF for download at Printed copies can be requested by 
e-mail to

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:
Oliver Pokorny
Head of Corporte Communications
Tel.: +43 316 6902 1332
Fax: +43 316 6902 465

end of announcement                               euro adhoc 

company:     Andritz AG
             Stattegger Straße 18
             A-8045 Graz
phone:       +43 (0)316 6902-0
FAX:         +43 (0)316 6902-415
sector:      Machine Manufacturing
ISIN:        AT0000730007
indexes:     WBI, ATX Prime, ATX, ATX five
stockmarkets: official market: Wien 
language:   English

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