ANDRITZ confirms long-term corporate goals at its Capital Market Day 2010At the ANDRITZ Capital Market Day 2010, Wolfgang Leitner, President and CEO of ANDRITZ AG, today confirmed the international technology Group’s long-term goals.
‛The ANDRITZ GROUP’s financial goals are to achieve a sustained average EBITA margin of 7% over the cycle and Group sales of approximately 4.5 billion Euros by 2013/2014’, says Leitner and adds, ‛In the past ten years, ANDRITZ has increased Group sales by over 15% per annum, and the EBITA margin has risen from 4.7% in 2000 to 6.3% in the first half of 2010’.
The sales target for the ANDRITZ GROUP of around 4.5 billion Euros originally stated for 2008 was postponed last year until 2013/2014 as a result of the global financial and economic crisis. Above all, future development of the global economy will determine whether this goal is achievable or not. ‛From today’s point of view, we expect a slight recovery of the global economy over the next few years. Based on these expectations and in view of the cost reduction measures implemented last year as well as the solid order intake and order backlog for the first half of 2010, the achievement of our long-term sales and earnings targets by 2013/2014 is possible", Leitner substantiates.
Assuming Group sales of approximately 4.5 billion Euros, an EBITA margin of 7%, and a tax rate of 30%, earnings per share of around 4.15 EUR could be achieved in 2014 (2008: 2.73 EUR per share; 2009: 1.89 EUR per share). ANDRITZ has increased its earnings per share by an annual average of 17.3% since 2000.
ANDRITZ intends to continue its dividend policy focused on continuity. After increasing the dividend payout ratio to approximately 50% for the 2009 business year, ANDRITZ aims to increase this ratio gradually to around 60% over 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 13,500 employees worldwide. ANDRITZ operates over 120 production sites, service and sales companies all around the world.