ANDRITZ: sales of over 4 billion EUR expected for 2011, increase to more than 4.5 billion EUR planned for 2012At the ANDRITZ Capital Market Days 2011, Wolfgang Leitner, President and CEO of ANDRITZ AG, today specified the sales and earnings targets of the ANDRITZ GROUP for 2011 and 2012:
“Based on the high order intake and good development in sales in the first half of 2011, we expect Group sales to rise above four billion Euros for 2011. For 2012, we are planning a further increase in sales to over 4.5 billion Euros in view of the good order intake and the acquisitions made in 2010 and 2011. We confirm our target to achieve an average EBITA margin of 7% over the cycle and also intend continuing our pro-active dividend policy,” said Leitner and added: “However, a possible significant downturn of the global economy would most likely impact the achievement of these goals.”
Based on Group sales of 4.5 billion EUR, an EBITA margin of 7%, and a tax rate of 30%, earnings per share of about 4.23 EUR could be reached in 2012 (2008: 2.73 EUR per share; 2009: 1.89 EUR per share; 2010: 3.48 EUR per share), corresponding to an average annual growth of over 20% in earnings per share since 2000.
ANDRITZ wants to continue its dividend policy, which is focused on maintaining continuity, and aims to increase the dividend payout ratio steadily to approximately 60% in the next few years.
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For further information, please contact:
Dr. Michael Buchbauer
Head of Group Treasury, Corporate Communications & Investor Relations
Phone: +43 (316) 6902 2979
The ANDRITZ GROUP
The ANDRITZ GROUP is a global market leader for supply of systems and services to 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.
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.