We can look back with pride on the business results achieved by the ANDRITZ GROUP in 2021. Despite the challenges of the Covid-19 pandemic during the reporting period, we succeeded in reaching all-time highs in order intake and net income. All four of our business areas were able to increase their business results compared to the previous year – some quite substantially.
There are two main reasons for this: On the one hand, we made some cautious assumptions concerning the economic development of our company in the medium term at a very early stage of the pandemic, when it was difficult to estimate its impact on the global economy. These assumptions resulted in moderate adjustment measures that are also reasonable in the medium term, but in some individual cases, more extensive adjustments were unavoidable, for example at Schuler in Germany. In addition, we have proactively extended the means of digital communication also accepted by our customers and suppliers – including online support during start-up of complex systems – in the course of the pandemic.
All these measures have reduced our cost base substantially. On this note, I would like, on behalf of the Executive Board, to thank all of our employees for the understanding they have shown for the measures taken and for their great commitment in spite of the very difficult and demanding circumstances prevailing on our job sites in particular.
The second main reason for our success, which was reflected in the record order intake in the past financial year, is undoubtedly the fact that we are in a strong competitive position in all business segments due to our broad product portfolio and range of advanced technologies. And this applies to both the capital goods and also our rapidly growing service business sector.
With our innovative products and service offerings, incorporating both on-site services and remote digital support, we help our customers achieve their individual goals in the best way possible.
In the sustainability sector in particular, I see great opportunities and potential for ANDRITZ. With our sustainability program “We Care” launched in June 2021, we have not only set very ambitious ESG goals for ourselves, like a significant reduction of CO2 emissions as well as decreases in waste and consumption of water, but also defined areas of focus in which we can make a significant contribution towards sustainable development and environmental protection.
We have a variety of products in all four business areas that help our customers achieve their sustainability goals – whether they involve reducing CO2 emissions, making use of renewable energy sources, minimizing the consumption of resources, or recycling waste products and textiles. In recycling, our acquisition of Laroche, the world market leader in textile recycling, has put us in an excellent position to meet the rising demand in the nonwovens and textile industry for sustainable solutions to reduce waste, increase the recycling quota and improve the CO2 balance by using natural fibers.
In the future, we intend to continue pushing the development of green, sustainable products forward and thus tap into new markets.