EANS-News: ANDRITZ GROUP: Results for the third quarter of 2017
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
--------------------------------------------------------------------------------
Quarterly Report
Graz -
November 3, 2017. International technology Group ANDRITZ recorded business
development in line with its own expectations in the third quarter of 2017.
The key financial figures developed as follows:
* Order intake in the third quarter of 2017 amounted to 1,341.2 MEUR, decreasing
by 8.8% compared to the previous year's reference period (Q3 2016: 1,470.1
MEUR). This decline is attributable primarily to the HYDRO and the METALS
business areas, whose order intake decreased by 9.5% and 19.8%, respectively,
compared to the previous year's reference period. In the first three quarters
of 2017, the Group's order intake at 4,112.5 MEUR was slightly higher than the
level of the previous year's reference period (+1.9% versus Q1-Q3 2016:
4,036.5 MEUR). This increase is particularly attributable to the PULP & PAPER
business area, which achieved increases in both capital and service business.
The SEPARATION business area also saw favorable development in the reporting
period and was able to continue the rising trend in order intake that began in
the previous quarters.
* The order backlog as of September 30, 2017, amounted to 6,650.8 MEUR and was
thus down slightly compared to the figure at the end of 2016 (-2.0% compared
to December 31, 2016: 6,789.2 MEUR).
* In the third quarter of 2017, sales decreased by 7.7% compared to the previous
year's reference period, reaching 1,364.6 MEUR (Q3 2016: 1,478.1 MEUR), with
all four business areas showing a decline. The PULP & PAPER business area, in
particular, saw a significant decline in sales compared to the previous year's
reference period, which had very high sales due to processing of a large
order. Group sales in the first three quarters of 2017 amounted to 4,143.6
MEUR, decreasing slightly compared to the previous year's reference figure (-
2.3% compared to Q1-Q3 2016: 4,239.3 MEUR). The EBITA also decreased at
practically the same rate as sales; at 98.9 MEUR it was 9.3% below the figure
for last year's reference period (Q3 2016: 109.1 MEUR). Profitability (EBITA
margin) declined slightly to 7.2% (Q3 2016: 7.4%).
* The EBITA amounted to 306.2 MEUR in the first three quarters of 2017 and thus
increased compared to the previous year's reference period (+4.8% compared to
Q1-Q3 2016: 292.1 MEUR). Profitability increased to 7.4% (Q1-Q3 2016: 6.9%),
although it is important to note that the second quarter of 2017 - as already
disclosed - was impacted positively by an extraordinary effect mainly from
sale of the Schuler Technical Center in Tianjin, China. Excluding this
extraordinary effect, the Group's EBITA would have been 283.3 MEUR and the
profitability 6.8%.
* The net income (without non-controlling interests) decreased to 189.8 MEUR
(Q1-Q3 2016: 194.2 MEUR) in the first three quarters of 2017.
Wolfgang Leitner, President & CEO of ANDRITZ AG: "For the coming months, we do
not anticipate any major changes in the markets we serve. In PULP & PAPER, we
expect unchanged good project and investment activity and also assume that the
positive development in the SEPARATION business area will continue. The Group's
service business, which currently accounts for around one third of sales, is
also expected to continue its positive development."
ANDRITZ continues to expect a slight decline in Group sales for the 2017
business year compared to 2016, but also expects profitability (EBITA margin) to
achieve the solid level of the previous year in spite of the decline in sales.
- End -
Press release for download
The press release is available for download at the ANDRITZ web site:
www.andritz.com/news [http://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 approximately 25,700 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.
Key financial figures of the ANDRITZ GROUP at a glance
Unit Q1-Q3 2017 Q1-Q3 2016 +/- Q3 2017 Q3 2016 +/- 2016
Sales Group MEUR 4,143.6 4,239.3 -2.3% 1,364.6 1,478.1 -7.7% 6,039.0
HYDRO MEUR 1,071.5 1,179.7 -9.2% 346.9 372.4 -6.8% 1,752.4
PULP & PAPER MEUR 1,474.3 1,534.0 -3.9% 483.4 553.6 -12.7% 2,094.4
METALS MEUR 1,185.0 1,110.3 +6.7% 392.7 406.7 -3.4% 1,598.4
SEPARATION MEUR 412.8 415.3 -0.6% 141.6 145.4 -2.6% 593.8
Order intake MEUR 4,112.5 4,036.5 +1.9% 1,341.2 1,470.1 -8.8% 5,568.8
Group
HYDRO MEUR 939.0 1,060.9 -11.5% 425.0 469.5 -9.5% 1,500.3
PULP & PAPER MEUR 1,552.0 1,351.0 +14.9% 427.1 435.0 -1.8% 1,919.5
METALS MEUR 1,143.6 1,179.5 -3.0% 329.4 410.8 -19.8% 1,551.5
SEPARATION MEUR 477.9 445.1 +7.4% 159.7 154.8 +3.2% 597.5
Order
backlog (as MEUR 6,650.8 7,043.6 -5.6% 6,650.8 7,043.6 -5.6% 6,789.2
of end of
period)
EBITDA MEUR 375.2 363.5 +3.2% 121.7 133.9 -9.1% 542.4
EBITDA % 9.1 8.6 - 8.9 9.1 - 9.0
margin
EBITA MEUR 306.2 292.1 +4.8% 98.9 109.1 -9.3% 442.1
EBITA margin % 7.4 6.9 - 7.2 7.4 - 7.3
Earnings
Before
Interest MEUR 275.9 261.8 +5.4% 90.5 98.8 -8.4% 385.8
and Taxes
(EBIT)
Financial MEUR -0.8 15.7 -105.1% -4.3 6.8 -163.2% 12.6
result
Earnings
Before Taxes MEUR 275.1 277.5 -0.9% 86.2 105.6 -18.4% 398.4
(EBT)
Net income
(without
non- MEUR 189.8 194.2 -2.3% 59.0 73.9 -20.2% 274.6
controlling
interests)
Cash flow
from MEUR 129.2 345.7 -62.6% 47.7 145.1 -67.1% 366.6
operating
activities
Capital MEUR 81.5 76.3 +6.8% 25.6 31.5 -18.7% 119.5
expenditure
Employees
(as of end
of period; - 25,686 25,547 +0.5% 25,686 25,547 +0.5% 25,162
without
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.
Further inquiry note:
Dr. Michael Buchbauer
Head of Group Finance, Corporate Communications & Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
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: ATX, WBI
stockmarkets: Wien
language: English
Original-Content von: Andritz AG, übermittelt durch news aktuell