EANS-News: ANDRITZ GROUP: Favorable business development in the second quarter of 2011
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 6-month report Graz (euro adhoc) - Graz, August 9, 2011. International technology Group ANDRITZ showed a good business development in the second quarter of 2011 and increased all relevant key figures compared to last year´s reference period. - Sales of the ANDRITZ GROUP amounted to 1,087.4 MEUR in the second quarter of 2011 and was thus 31.0% higher than the reference figure for the previous year (Q2 2010: 829.9 MEUR). While sales of FEED & BIOFUEL were unchanged, all other business areas noted a substantial increase in sales. In the first half of 2011, sales of the Group amounted to 2,011.1 MEUR, thus rising by 28.7% compared to last year´s reference figure (H1 2010: 1,562.2 MEUR). - The order intake in the second quarter of 2011, at 1,978.5 MEUR, reached the highest quarterly figure in the company´s history and rose by 41.8% compared to the high level of the previous year (Q2 2010: 1,395.3 MEUR). The PULP & PAPER and the ENVIRONMENT & PROCESS business areas saw a substantial increase in order intake. In the first half of 2011, Group order intake amounted to 3,644.5 MEUR (+58.2% vs. H1 2010: 2,303.7 MEUR). - The order backlog as of June 30, 2011, at 7,249.0 MEUR, also reached a new record level and increased by 37.0% compared to the figure at the end of 2010 (December 31, 2010: 5,290.9 MEUR). - The EBITA amounted to 75.5 MEUR in the second quarter of 2011 (+39.3% vs. Q2 2010: 54.2 MEUR) and rose considerably more than sales. Thus, profitability (EBITA margin) increased to 6.9% (Q2 2010: 6.5%). The EBITA in the first half of 2011 rose to 131.6 MEUR (97.9 MEUR in H1 2010: +34.4%), while the EBITA margin reached 6.5% (H1 2010. 6.3%). - The net income (excluding non-controlling interests) reached 51.5 MEUR in the second quarter of 2011 (Q2 2010: 38.4 MEUR) and 88.5 MEUR in the first half of 2011 (H1 2010: 67.3 MEUR). - The balance sheet structure as of June 30, 2011 remained solid. The equity ratio amounted to 18.6% (December 31, 2010: 19.7%). Liquid funds (cash and cash equivalents plus marketable securities plus fair value of interest rate swaps and loans against borrowers´ notes) amounted to 1,697.4 MEUR (December 31, 2010: 1,617.6 MEUR). Net liquidity (liquid funds minus financial liabilities) increased to 1,264.2 MEUR and thus was higher than at the end of last year (December 31, 2010: 1,177.0 MEUR). Commenting on the outlook for the 2011 business year, President and CEO Wolfgang Leitner says: `At present, we see a good market environment and solid project activity. Only in the METALS business area, the moderate project and investment activity is expected to continue.´ Based on these expectations and the business results for the first six months of this year, the ANDRITZ GROUP continues to expect a substantial increase in sales and a rise in net income in the 2011 business year compared to the previous year. If however, the global economy suffers a setback due to the Euro and US debt crises in the coming months, this could have a negative impact on the business development of the ANDRITZ GROUP. - End - Key figures of the ANDRITZ GROUP at a glance (Acc. to IFRS; in MEUR) H1 2011 H1 2010 +/- Q2 2011 Q2 2010 +/- Sales 2,011.1 1,562.2 +28.7% 1,087.4 829.9 +31.0% HYDRO 805.1 706.7 +13.9% 440.6 357.7 +23.2% PULP & PAPER 780.5 479.3 +62.8% 413.5 262.3 +57.6% METALS 162.1 162.1 +/-0% 91.0 84.1 +8.2% ENVIRONMENT & PROCESS 192.8 144.5 +33.4% 105.2 88.8 +18.5% FEED & BIOFUEL 70.6 69.6 +1.4% 37.1 37.0 +0.3% Order intake 3,644.5 2,303.7 +58.2% 1,978.5 1,395.3 +41.8% HYDRO 1,097.1 1,150.0 -4.6% 513.2 758.6 -32.3% PULP & PAPER 2,037.9 748.7 +172.2% 1,226.8 408.6 +200.2% METALS 183.1 141.6 +29.3% 78.4 98.9 -20.7% ENVIRONMENT & PROCESS 252.8 181.9 +39.0% 121.9 92.7 +31.5% FEED & BIOFUEL 73.6 81.5 -9.7% 38.2 36.5 +4.7% Order backlog (as of end of period) 7,249.0 5,384.9 +34.6% 7,249.0 5,384.9 +34.6% EBITDA 157.0 123.2 +27.4% 88.3 67.6 +30.6% EBITDA margin 7.8% 7.9% - 8.1% 8.1% - EBITA 131.6 97.9 +34.4% 75.5 54.2 +39.3% EBITA margin 6.5% 6.3% - 6.9% 6.5% - Earnings Before Interest and Taxes (EBIT) 123.1 92.8 +32.7% 71.1 51.4 +38.3% Financial result 4.0 3.6 +11.1% 1.0 1.7 -41.2% Earnings Before Taxes (EBT) 127.1 96.4 +31.8% 72.1 53.1 +35.8% Net income (excluding non-controlling interests) 88.5 67.3 +31.5% 51.5 38.4 +34.1% Cash flow from operating activities 206.8 338.9 -39.0% 55.7 100.5 -44.6% Investments in tangible and intangible assets 23.5 22.2 +5.9% 13.2 8.3 +59.0% Employees (as of end of period) 16,119 13,457 +19.8% 16,119 13,457 +19.8% The interim financial report for the first half of 2011 as well as all annual and financial reports of the ANDRITZ GROUP are available at www.andritz.com as online and pdf versions. Printed copies can be requested by phone (+43 316 6902 2722), fax (+43 316 6902 465), or e-mail (investors@andritz.com). The ANDRITZ GROUP The ANDRITZ GROUP is a globally leading supplier of plants and services for the hydropower, pulp and paper, metals, and other specialized industries (solid/liquid separation, feed, and biofuel). The Group is headquartered in Graz, Austria, and has a staff of approximately 16,100 employees worldwide. ANDRITZ operates over 180 production sites, service and sales companies all around the world. 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 Treasury, Corporte Communications & Investor Relations Tel.: +43 316 6902 2979 Fax: +43 316 6902 465 mailto:michael.buchbauer@andritz.com 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 mail: welcome@andritz.com WWW: www.andritz.com sector: Machine Manufacturing ISIN: AT0000730007 indexes: WBI, ATX Prime, ATX, ATX five stockmarkets: official market: Wien language: English
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