EANS-News: ANDRITZ GROUP: results for the first half of 2015
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6-month report
Graz, August 7, 2015. International technology Group ANDRITZ showed solid
business development in the first half of 2015 in a still challenging overall
economic environment. The key financial figures developed as follows:
- In the first half of 2015, sales amounted to 3,005.6 MEUR, which is an
increase of 13.0% compared to the previous year's reference period
(H1 2014: 2,659.4 MEUR). In the second quarter of 2015, sales rose by 11.2%
compared to last year's reference figure, reaching 1,601.3 MEUR (Q2 2014:
1,439.9 MEUR).
- Order intake amounted to 2,580.0 MEUR in the first half of 2015 (-13.4%
versus H1 2014: 2,980.2 MEUR). While the order intake in the HYDRO business
area only dropped slightly (-2.5% versus H1 2014), order intake in the other
business areas dropped - in some cases substantially: PULP & PAPER -14.0%,
METALS -25.4%, SEPARATION -9.5%. In the second quarter of 2015, order intake
amounted to 1,149.4 MEUR (-7.2% versus Q2 2014: 1,238.0 MEUR).
- The order backlog as of June 30, 2015, amounted to 7,349.0 MEUR (-2.2% versus
December 31, 2014: 7,510.6 MEUR).
- Earnings and profitability developed favorably. In the first half of 2015,
the EBITA rose by 38.6% to 184.9 MEUR (H1 2014: 133.4 MEUR) and the EBITA
margin to 6.2% (H1 2014: 5.0%). In the second quarter of 2015, the EBITA
amounted to 111.5 MEUR (+31.5% versus Q2 2014: 84.8 MEUR), and the EBITA
margin increased to 7.0% (Q2 2014: 5.9%). This positive development is mainly
due to the HYDRO and PULP & PAPER business areas, which achieved a
substantial increase in profitability compared to the previous year's
reference period.
- Net income (without non-controlling interests) rose considerably in the
first half of 2015 and amounted to 113.9 MEUR (+70.8% versus H1 2014:
66.7 MEUR).
Wolfgang Leitner, President and CEO of ANDRITZ: "In view of the unchanged
difficult economic environment, we are satisfied with the business development
in the first half of 2015. However, project and investment activity has slowed
down in some of our end markets, in some cases substantially, and this activity
has also become increasingly volatile. Hence, we shall continue the structural
measures already implemented in the past few years in order to adapt our value
chain to these changed market conditions and thus increase our flexibility."
Based on the current project activity in the ANDRITZ business areas and on the
order backlog as of the end of June 2015, ANDRITZ currently expects an increase
in sales and net income for the 2015 business year compared to the previous
year. If, however, the economic weakness in the emerging countries
(particularly in China) continues in the coming months, the global economy
suffers any severe setbacks, or there is major turmoil in the international
foreign currency and financial markets, this could have a negative impact on
ANDRITZ's business development. This could necessitate organizational and
capacity adjustments in individual business areas and thus result in financial
provisions that could negatively impact the earnings of the ANDRITZ GROUP.
- End -
Key financial figures of the ANDRITZ GROUP at a glance
(in MEUR) H1 2015 H1 2014 +/- Q2 2015 Q2 2014 +/- 2014
Sales 3,005.6 2,659.4 +13.0% 1,601.3 1,439.9 +11.2% 5,859.3
HYDRO 866.3 805.5 +7.5% 458.4 442.7 +3.5% 1,752.3
PULP & PAPER 1,043.9 869.3 +20.1% 563.4 469.7 +19.9% 1,969.3
METALS 796.1 722.3 +10.2% 419.0 389.5 +7.6% 1,550.4
SEPARATION 299.3 262.4 +14.1% 160.5 138.1 +16.2% 587.3
Order intake 2,580.0 2,980.2 -13.4% 1,149.4 1,238.0 -7.2% 6,101.0
HYDRO 794.7 814.7 -2.5% 347.7 291.4 +19.3% 1,816.7
PULP & PAPER 908.9 1,057.2 -14.0% 446.5 402.4 +11.0% 1,995.7
METALS 595.4 797.9 -25.4% 210.5 377.8 -44.3% 1,692.8
SEPARATION 281.0 310.4 -9.5% 144.7 166.4 -13.0% 595.8
Order backlog
(as of end
of period) 7,349.0 7,555.7 -2.7% 7,349.0 7,555.7 -2.7% 7,510.6
EBITDA 230.9 175.7 +31.4% 134.8 106.2 +26.9% 472.0
EBITDA margin (%) 7.7 6.6 - 8.4 7.4 - 8.1
EBITA 184.9 133.4 +38.6% 111.5 84.8 +31.5% 379.5
EBITA margin (%) 6.2 5.0 - 7.0 5.9 - 6.5
Earnings Before
Interest and
Taxes(EBIT) 159.6 94.4 +69.1% 98.1 65.4 +50.0% 295.7
Financial result 6.7 -1.7 +494.1% 5.6 -0.3 +1,966.7% 3.7
Earnings Before
Taxes (EBT) 166.4 92.7 +79.5% 103.8 65.2 +59.2% 299.4
Net income
(without non-
controlling
interests) 113.9 66.7 +70.8% 69.9 46.0 +52.0% 210.9
Cash flow from
operating
activities -7.8 49.0 -115.9% -45.0 -12.0 -275.0% 342.1
Capital
expenditure 36.3 34.4 +5.5% 15.5 17.2 -9.9% 106.5
Employees
(as of end of
period; without
apprentices) 24,992 24,126 +3,6% 24,992 24,126 +3.6% 24,853
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.
Press release for download
The press release is available for download at www.andritz.com/news.
The ANDRITZ GROUP
ANDRITZ is a globally leading supplier of plants, equipment, and services for
hydropower stations, the pulp and paper industry, the metalworking and steel
industries, and for solid/liquid separation in the municipal and industrial
sectors. The publicly listed technology Group is headquartered in Graz,
Austria, and has a staff of almost 25,000 employees. ANDRITZ operates over
250 sites worldwide.
Annual and financial reports
The annual reports and financial reports of the ANDRITZ GROUP are available
as PDF for download at www.andritz.com. Printed copies can be requested by
e-mail to 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 Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com
end of announcement euro adhoc
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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
Original content of: Andritz AG, transmitted by news aktuell