EANS-News: Results third quarter 2012 and first three quarters 2012: ANDRITZ GROUP with solid business development
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- quarterly report Graz (euro adhoc) - Graz, November 6, 2012. International technology Group ANDRITZ showed solid business development during the third quarter of 2012 and the first three quarters of 2012: - In the third quarter of 2012, sales amounted to 1,265.5 MEUR, which is an increase of 7.9% compared to last year's reference figure (Q3 2011: 1,173.1 MEUR). With the exception of the SEPARATION business area, all business areas noted increases in sales. In the first three quarters of 2012, sales, at 3,703.3 MEUR, rose by 16.3% compared to the previous year's reference period (Q1-Q3 2011: 3,184.2 MEUR). - The order intake saw a very satisfactory development in the third quarter of 2012. At 1,238.8 MEUR, it was only slightly below the high level of last year's reference period (Q3 2011: 1,254.1 MEUR), which included a large order in the amount of approximately 330 MEUR in the HYDRO business area. In the first three quarters of 2012, order intake amounted to 3,793.2 MEUR and was thus 22.6% below the extraordinarily high level of the previous year's reference period (Q1-Q3 2011: 4,898.6 MEUR), which included two large orders in the PULP & PAPER business area amounting to around 1,100 MEUR in addition to the large order mentioned above (HYDRO: 330 MEUR). - The order backlog as of September 30, 2012 amounted to 6,929.8 MEUR (+3.7% vs. December 31, 2011: 6,683.1 MEUR). - EBITA amounted to 86.5 MEUR in the third quarter of 2012 and thus almost reached the previous year's reference figure (-3.7 % vs. Q3 2011: 89.8 MEUR). The EBITA margin declined to 6.8% (Q3 2011: 7.7%). This decline is mainly attributable to the PULP & PAPER business area (execution of large orders) and the SEPARATION business area (cost overruns at some projects and investments in the expansion of business activities in the emerging markets). The EBITA in the first three quarters of 2012, at 242.1 MEUR, increased by 9.3% compared to the reference period of the previous year (Q1-Q3 2011: 221.4 MEUR). The EBITA margin amounted to 6.5% (Q1-Q3 2011: 7.0%). - Net income (excluding non-controlling interests) increased to 167.2 MEUR during the first three quarters of 2012 (+11.1% vs. Q1-Q3 2011: 150.5 MEUR). - The net worth position and capital structure as of September 30, 2012 remained solid. The total assets increased to 5,103.7 MEUR (December 31, 2011: 4,566.6 MEUR). This increase is attributable primarily to the successful issue of a corporate bond with a volume of 350 MEUR (tenor: seven years). Thus, the equity ratio declined to 19.4% (December 31, 2011: 20.6%). The net liquidity amounted to 1,286.4 MEUR (December 31, 2011: 1,400.6 MEUR). Commenting on the outlook for the 2012 business year, President and CEO Wolfgang Leitner says: "Although there is perceptible caution in investment activity in the industries served by ANDRITZ due to the very difficult overall economic environment, the overall project activity is satisfactory. However, the visibility of upcoming projects and the award of orders have shortened significantly, particularly for large-scale investments." For the fully year of 2012, the ANDRITZ GROUP expects an increase in sales to approximately 5 billion EUR. The net income is also expected to rise compared to last year. However, if the global economy should deteriorate further in the coming months, this may have a negative impact on the Group's earnings. - End - Key financial figures of the ANDRITZ GROUP Acc. to IFRS; MEUR Q1-Q3 2012 Q1-Q3 2011 +/- Q3 2012 Q3 2011 +/- Sales 3,703.3 3,184.2 +16.3% 1,265.5 1,173.1 +7.9% HYDRO 1,245.7 1,223.0 +1.9% 438.7 417.9 +5.0% PULP & PAPER* 1,724.8 1,293.9 +33.3% 561.1 499.7 +12.3% SEPARATION* 304.7 296.4 +2.8% 104.2 117.3 -11.2% METALS 294.4 263.4 +11.8% 117.7 101.3 +16.2% FEED & BIOFUEL 133.8 107.5 +24.5% 43.9 36.9 +19.0% Order intake 3,793.2 4,898.6 -22.6% 1,238.8 1,254.1 -1.2% HYDRO 1,504.6 1,812.7 -17.0% 391.4 715.6 -45.3% PULP & PAPER* 1,523.3 2,372.1 -35.8% 542.1 318.4 +70.3% SEPARATION* 365.9 352.0 +3.9% 106.5 115.0 -7.4% METALS 270.8 253.8 +6.7% 159.5 70.7 +125.6% FEED & BIOFUEL 128.6 107.9 +19.2% 39.3 34.3 +14.6% Order backlog (as (of end of period) 6,929.8 7,325.0 -5.4% 6,929.8 7,325.0 -5.4% EBITDA 286.1 261.3 +9.5% 101.4 104.3 -2.8% EBITDA margin 7.7% 8.2% - 8.0% 8.9% - EBITA 242.1 221.4 +9.3% 86.5 89.8 -3.7% EBITA margin 6.5% 7.0% - 6.8% 7.7% - Earnings Before Interest and Taxes (EBIT) 224.0 207.9 +7.7% 80.9 84.8 -4.6% Financial result 7.0 7.2 -2.8% 0.3 3.2 -90.6% Earnings Before Taxes (EBT) 231.0 215.1 +7.4% 81.2 88.0 -7.7% Net income (excl. non-controlling interests) 167.2 150.5 +11.1% 58.5 62.0 -5.6% Cash flow from operating activities 219.2 339.9 -35.5% 99.8 133.1 -25.0% Investments in fixed tangible and intangible assets 52.3 41.7 +25.4% 17.8 18.2 -2.2% Employees (as of (end of period) 17,686 16,692 +6.0% 17,686 16,692 +6.0% * At the beginning of 2012, there was a minor product shift from the SEPARATION to the PULP & PAPER business area. Comparison figures for 2011 have been adjusted accordingly in both business areas. Due to the utilization of automatic calculation programs, differences can arise in the addition of rounded totals and percentages. The ANDRITZ GROUP International technology Group ANDRITZ is a globally leading supplier of plants, equipment, and services for hydropower stations, the pulp and paper industry, solid-liquid separation in the municipal and industrial sectors, the steel industry, and the production of animal feed and biomass pellets. In addition, ANDRITZ offers technologies for certain other sectors including automation, 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 torrefaction plants. The publicly listed company is headquartered in Graz, Austria, has a staff of approximately 17,700 employees, and operates over 180 production sites as well as service, and sales companies all around the world. Annual and financial reports Annual reports and financial reports of the ANDRITZ GROUP are available at www.andritz.com as online and pdf versions. Printed copies can be requested at 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 Treasury, Corporate 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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