ANDRITZ suspends sales and earnings forecast for 2020
Due to the global COVID-19 crisis, international technology group ANDRITZ expects a negative impact on the development of its sales and earnings in the 2020 business year.
The extent depends on the duration of the crisis and its future impact on the global economy and on the markets served by ANDRITZ. Hence, it cannot be quantified at the moment with sufficient certainty.
As a result, ANDRITZ has suspended it sales and earnings forecast for 2020 as disclosed at the presentation of the results for 2019 and anticipating a slight increase in sales and unchanged earnings before extraordinary effects (EBITA) compared to 2019 (before extraordinary effects). At the moment, it is impossible to estimate the effects on sales and earnings in 2020.
In order to counteract a possible drop in sales as best as possible, ANDRITZ has already initiated temporary cost-saving measures in many countries where the Group is active.
A change of the resolution concerning use of profits (dividend proposal) is not planned at the moment, however – depending on the further development of the corona crisis – this cannot be excluded.
The Annual General Meeting originally scheduled for March 25, 2020, had to be canceled due to the regulations introduced by the Austrian Federal Government.
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International technology group ANDRITZ offers a broad portfolio of innovative plants, equipment, systems and services for the pulp and paper industry, the hydropower sector, the metals processing and forming industry, pumps, solid/liquid separation in the municipal and industrial sectors, as well as animal feed and biomass pelleting. The global product and service portfolio is rounded off with plants for power generation, recycling, the production of nonwovens and panelboard, as well as automation and digital solutions offered under the brand name of Metris. The publicly listed group today has around 29,500 employees and more than 280 locations in over 40 countries.