EANS-News: ANDRITZ GROUP: Results for Q2 and H1 2018
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Mid Year Results
Graz -
AUGUST 2, 2018: International technology Group ANDRITZ saw favorable business
development in the second quarter of 2018. Order intake increased significantly
compared to the reference figure of the previous year, sales and earnings also
showed solid development. The key financial figures developed as follows:
* In the second quarter of 2018, order intake, at 1,736.5 MEUR, was well above
the previous year's reference figure (+43.4% versus Q2 2017: 1,211.3 MEUR).
All business areas were able to increase their order intake compared to the
previous year's reference period. Thus, the positive trend in order intake in
the preceding quarters continued (Q3 2017: 1,341.2 MEUR, Q4 2017: 1,467.0
MEUR, Q1 2018: 1,532.8 MEUR). As a result, order intake in the first half of
2018 developed very favorably, rising to 3,269.3 MEUR. This is an increase of
18.0% compared to the previous year's reference period (H1 2017: 2,771.3
MEUR).
* The order backlog as of June 30, 2018 amounted to 6,841.1 MEUR and increased
by 7.2% compared to the end of 2017 (6,383.0 MEUR) as a result of the increase
in order intake in the preceding quarters.
* Sales rose in the second quarter of 2018 by 5.7% compared to the previous
year's reference period (Q2 2017: 1,392.8 MEUR) and reached 1,472.1 MEUR. This
almost entirely made up for the decline in sales in the first quarter, with
the result that sales in the first half of 2018, at 2,763.1 MEUR, were only
slightly below the level of the previous year's reference period (-0.6% versus
H1 2017: 2,779.0 MEUR).
* Due to the increase in sales and favorable development of the Pulp & Paper
business area, the EBITA in the second quarter increased to 94.6 MEUR and thus
was up by 9.4% compared to the previous year's reference figure (86.5 MEUR)
adjusted by the extraordinary positive effect of approximately 25 MEUR (mainly
attributable to sale of the Schuler Technical Center in Tianjin, China).
Compared to the EBITA for Q2 2017 including this extraordinary positive
effect, the EBITA in the second quarter of 2018 decreased by 13.9%. In the
first half of 2018, the EBITA amounted to 166.3 MEUR and was 8.8% below the
previous year's reference figure (182.3 MEUR) adjusted for the positive
extraordinary effect. This is due to the drop in earnings in the first quarter
of 2018, which was marked by declining sales and cost overruns in the Metals
business area. Compared to the EBITA for H1 2017 including the extraordinary
effect, the EBITA for the first half of 2018 fell by 19.8%.
* The net income (without non-controlling interests) fell in the second quarter
of 2018 to 56.6 MEUR (Q2 2017: 67.8 MEUR). In the first half of 2018, the net
income (without non-controlling interests) amounted to 100.6 MEUR (H1 2017:
130.8 MEUR).
OUTLOOK
The ANDRITZ GROUP expects unchanged stable development of sales in the 2018
business year as compared to the previous year. Profitability (EBITA margin)
should also continue to develop positively and reach roughly the level of the
previous year, taking account of the positive special effect recorded last year.
Wolfgang Leitner, President & CEO of ANDRITZ AG: "We are satisfied overall with
business development in the first half of this year. In particular, the positive
development in order intake, which has now been increasing for four consecutive
quarters, gives us grounds for optimism. We also envisage good project and
investment activity for the remaining months of the year in the markets we
serve."
KEY FINANCIAL FIGURES AT A GLANCE
Unit H1 2018 H1 2017 +/- Q2 2018 Q2 2017 +/- 2017
Sales MEUR 2,763.1 2,779.0 -0.6% 1,472.1 1,392.8 +5.7% 5,889.1
- Hydro MEUR 724.3 724.6 -0.0% 374.6 368.7 +1.6% 1,583.1
- Pulp & Paper MEUR 1,009.5 990.9 +1.9% 550.5 482.2 +14.2% 2,059.7
- Metals MEUR 742.4 792.3 -6.3% 394.9 394.8 +0.0% 1,643.5
- Separation MEUR 286.9 271.2 +5.8% 152.1 147.1 +3.4% 602.8
Order intake MEUR 3,269.3 2,771.3 +18.0% 1,736.5 1,211.3 +43.4% 5,579.5
- Hydro MEUR 753.1 514.0 +46.5% 318.3 204.5 +55.6% 1,317.2
- Pulp & Paper MEUR 1,180.9 1,124.9 +5.0% 723.4 471.6 +53.4% 2,033.4
- Metals MEUR 946.7 814.2 +16.3% 478.9 371.5 +28.9% 1,606.5
- Separation MEUR 388.6 318.2 +22.1% 215.9 163.7 +31.9% 622.4
Order backlog (as of MEUR 6,841.1 6,849.1 -0.1% 6,841.1 6,849.1 -0.1% 6,383.0
end of period)
EBITDA MEUR 211.7 253.5 -16.5% 117.9 132.8 -11.2% 541.7
EBITDA margin % 7.7 9.1 - 8.0 9.5 - 9.2
EBITA MEUR 166.3 207.3 -19.8% 94.6 109.9 -13.9% 444.0
EBITA margin % 6.0 7.5 - 6.4 7.9 - 7.5
Earnings Before
Interest and Taxes MEUR 152.9 185.4 -17.5% 88.5 98.5 -10.2% 399.3
(EBIT)
Financial result MEUR -10.0 3.5 -385.7% -8.6 0.1 n/a 1.3
Earnings Before MEUR 142.9 188.9 -24.4% 79.9 98.6 -19.0% 400.6
Taxes (EBT)
Net income (without
non-controlling MEUR 100.6 130.8 -23.1% 56.6 67.8 -16.5% 263
interests)
Cash flow from MEUR -101.2 81.5 -224.2% -77.8 -66.2 -17.5% 246.5
operating activities
Capital expenditure MEUR 47.2 55.9 -15.6% 24.7 26.9 -8.2% 116.8
Employees (as of end
of period; without - 26,023 25,390 +2.5% 26,023 25,390 +2.5% 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 -
PRESS RELEASE AVAILABLE FOR DOWNLOAD
This press release is available for download at andritz.com/news.
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, 26,000
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 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