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euro adhoc: Andritz AG
Quarterly or Semiannual Financial Statements / Andritz: Favorable business development in Q1 2005 - Sales, Order Intake, and Order Backlog up compared to the reference Quarter of last year - Net profit significantly increased

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
09.05.2005
Graz, 9 May 2005.  In the First Quarter of 2005, Technology Group
Andritz achieved increases in all key financial figures.  Sales
increased to 342.5 MEUR (+3.2%), and Net Income after deduction of
minority interests, at 14.1 MEUR, was 76.3% higher than in the same
period of last year.  Order Intake of the Group amounted to 393.2
MEUR, an increase of 6.4% compared to the reference Quarter of last
year.  The Order Backlog as of 31.3.2005 reached almost 1.5 bn.
Euros, providing a solid basis for the Sales development in the
coming Quarters.
Increase in Sales
In the First Quarter of 2005, Sales of the Andritz Group increased to
342.5 MEUR.  This was an increase of 3.2% compared to the reference
Quarter of last year (Q1 2004: 331.8 MEUR).  Many large orders which
Andritz had received at the end of 2004 were still in the engineering
phase, thus contributing only slightly to Sales during the reporting
period.  However, during the coming Quarters, increased Sales
contributions from those orders are expected.
Rise in Order Intake
Order Intake of the Group amounted to 393.2 MEUR for the period under
review, surpassing the value of the previous year’s reference Quarter
by 6.4% (Q1 2004: 369.6 MEUR).  However, some letters of intent for
orders have been signed during the reporting period, and are expected
to come into force during the coming Quarters.  The 100 MEUR order
from Marusumi, Japan, will be booked in the Second Quarter of 2005.
Order Backlog as of 31.3.2005 amounted to 1,487.7 MEUR, 33.9% above
the value for the previous year’s reference date (31.3.2004: 1,110.7
MEUR).  Compared to 31.12.2004 (1,439.2 MEUR), Order Backlog was up
by 3.4%.
Significant Increase in Earnings
Earnings developed favorably.  Earnings Before Interest, Tax,
Depreciation, and Amortization of Goodwill (EBITDA) increased to 25.4
MEUR, 12.9% above the previous year’s reference Quarter (Q1 2004:
22.5 MEUR). Profitability (EBITDA margin) increased to 7.4% (Q1 2004:
6.8%).
EBIT in the First Quarter of 2005 surged over proportionally to 19.6
MEUR (Q1 2005: 13.6 MEUR).  Non-amortization of goodwill due to the
obligatory application of IFRS 3 was, among other things, one of the
factors contributing to this increase.  IFRS prohibits the
amortization of goodwill from 2005 and obliges instead to test the
goodwill for impairment at least annually.
Net Income excluding minority interests amounted to 14.1 MEUR,
exceeding last year’s reference Quarter by 76.3% (Q1 2004: 8.0 MEUR).
High net liquidity
Net liquidity (cash and cash equivalents minus interest bearing
financial liabilities) as of 31.3.2005, at 231.6 MEUR, was at a very
high level (31.12.2004: 219.6 MEUR).  The equity ratio as of
31.3.2005 was 21.9% (31.12.2004: 23.4%).
Outlook
The economic environment for Andritz and its relevant markets - pulp,
paper, and steel - remains solid.  Project activity should remain
high for both the Pulp and Paper and the Rolling Mills and Strip
Processing Lines Business Areas.  In Environment and Process, market
activities are expected to develop positively, esp. for sewage sludge
drying systems.
Wolfgang Leitner, President and CEO of Andritz: "Given the expected
solid economic development, along with the high Order Backlog as of
the end of March 2005, we expect Sales and Net Income for 2005 to
surpass the record levels of 2004".
Key figures for Q1 2005
~
(in MEUR)                     Q1 2004     Q1 2005    Change     2004
Sales                           331.8       342.5    +3.2%   1,481.3
Order Intake                    369.6       393.2    +6.4%   1,837.0
Order Backlog 
(as of end of period)         1,110.7     1,487.7   +33.9%   1,439.2
EBITDA 1)                        22.5        25.4   +12.9%     115.4
EBITDA margin                    6.8%        7.4%     -         7.8%
EBITA 2)                         17.1        19.6   +14.6%      92.8
EBITA margin                     5.2%        5.7%     -         6.3%
Operating profit (EBIT)          13.6        19.6   +44.1%      76.1
Earnings before taxes (EBT)      13.6        20.2   +48.5%      77.2
Net profit after minorities       8.0        14.1   +76.3%      53.4
Cash flow from 
operating activities             51.6        23.6   -54.3%     208.0
Capex 3)                          2.5         4.9   +96.0%      29.4
Employees (as of end of period) 5,008       5,408    +8.0%     5,314
~
1) EBITDA: Earnings before interest, tax, depreciation, and 
   amortization of goodwill
2) EBITA: Earnings before interest, tax, and amortization of goodwill
3) Additions to tangible and intangible assets
Disclaimer
Certain statements contained in this press release constitute
"forward-looking statements."  These statements, which contain the
words "believe", "intend", "expect" and words of similar meaning,
reflect management’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.
The Letter to Shareholders for the First Quarter of 2005 is available
on the Andritz web site (www.andritz.com) both as an online and a PDF
version.  Printed versions can be requested by telephone (+43 316
6902 2722), fax (+43 316 6902 465) or e-mail
(petra.wolf@andritz.com).
About the Andritz Group
Publicly listed Andritz Group is a global market leader for advanced
production systems for pulp and paper, steel and other specialized
industries.  Andritz has a staff of 5,400 employees worldwide.  It
develops and makes its high-tech systems at 15 production sites
(Austria, Germany, Finland, Denmark, France, Netherlands, USA,
Canada, and China).
end of announcement                    euro adhoc 09.05.2005 07:30:00 

Further inquiry note:

Michael Buchbauer
Head of Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com

Branche: Machine Manufacturing
ISIN: AT0000730007
WKN:
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing

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