ANDRITZ GROUP: Good business development in the third quarter of 2011International technology Group ANDRITZ achieved a significant increase in all relevant financial key figures in the third quarter of 2011 compared to the previous year’s reference period.
Sales of the ANDRITZ GROUP amounted to 1,173.1 MEUR in the third quarter of 2011, thus exceeding last year’s reference figure by 30.8% (Q3 2010: 896.6 MEUR). With the exception of the FEED & BIOFUEL business area, all business areas recorded substantial increases in sales. In the first three quarters of 2011, sales rose to 3,184.2 MEUR, thus increasing by 29.5% compared to the reference period of last year (Q1-Q3 2010: 2,458.8 MEUR).
The order intake increased significantly, to 1,254.1 MEUR in the third quarter of 2011 (+34.5% vs. Q3 2010: 932.1 MEUR), mainly due to the booking of a large order in the HYDRO business area. Thus, the order intake of the Group in the first three quarters of 2011 rose to 4,898.6 MEUR, surpassing the reference value of last year by 51.4% (Q1-Q3 2010: 3,235.8 MEUR).
The order backlog as of September 30, 2011 reached the all-time high of 7,325.0 MEUR, thus up by 38.4% compared to the figure for December 31, 2010 (5,290.9 MEUR).
The EBITA in the third quarter of 2011, at 89.8 MEUR, was 34.0% higher than last year’s reference value (Q3 2010: 67.0 MEUR) and thus rose slightly more than sales. Profitability (EBITA margin) amounted to 7.7% (Q3 2010: 7.5%). The EBITA in the first three quarters of 2011 increased to 221.4 MEUR (164.9 MEUR in Q1-Q3 2010: +34.3%); the EBITA margin reached 7.0% (Q1-Q3 2010: 6.7%).
The net income (excluding non-controlling interests) amounted to 62.0 MEUR in the third quarter of 2011 (Q3 2010: 47.3 MEUR) and 150.5 MEUR in the first three quarters of 2011 (Q1-Q3 2010: 114.6 MEUR).
The balance sheet and capital structure showed an unchanged solid financial position as of September 30, 2011. The equity ratio amounted to 19.5% (December 31, 2010: 19.7%). The liquid funds (cash and cash equivalents plus marketable securities plus fair value of interest rate swaps plus loans against borrowers’ notes) increased to 1,787.0 MEUR (December 31, 2010: 1,617.6 MEUR). The net liquidity (liquid funds minus financial liabilities), at 1,330.4 MEUR, was also higher than at the end of last year (December 31, 2010: 1,177.0 MEUR).
President and CEO Wolfgang Leitner says about the outlook for the 2011 business year: “We currently see solid project activity in all markets that ANDRITZ serves. Only in the METALS business area we expect the moderate project activity to continue.”
On the basis of these expectations and the business results in the first nine months of the current year, the ANDRITZ GROUP confirms the financial outlook for the business year 2011 and expects an increase of sales to more than four billion Euros and a rise in the net income compared to the previous year. However, if the global economy should deteriorate further in the coming months, this may have a negative impact on the Group’s earnings.
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The interim financial report for the first three quarters of 2011 as well as all annual and financial reports of the ANDRITZ GROUP are available at www.andritz.com as online and pdf versions. Printed copies may be requested by phone (+43 316 6902 2722), fax (+43 316 6902 465), or e-mail (email@example.com).
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 globally leading supplier of plants and services for 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 16,700 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.