EANS-News: ANDRITZ GROUP: Results for the 2020 business year CNE

3/3, 7:30 AM (Source: euro adhoc)


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Annual Result

Graz -
March 3, 2021. International technology group ANDRITZ saw solid business
development in the 2020 business year in spite of the global economic crisis
triggered by the Covid-19 pandemic. At 6.7 billion euros, revenue reached a new
all-time high, while the operating result (EBITA) and net income increased
significantly compared to the previous year. The Executive Board will propose a
dividend of 1.00 euro per share, which is equal to a payout ratio of almost 50%.

Wolfgang Leitner, President & CEO of ANDRITZ AG, on the past business year: "We
are very satisfied with business development in 2020. Due to the enormous
flexibility and huge commitment of our employees worldwide, we succeeded in
managing the economic challenges of this crisis for ourselves and for our
customers well. We do not expect any major change in the overall economic
conditions during most of the current year, and only expect a slight recovery in
the markets we serve. So, we will continue our measures to ensure our long-term
competitiveness, but also at the same time focus on investments to secure
organic and external growth and on innovations.

The results of the business year in detail:

* The Order intake at 6,108.0 MEUR reached a solid level, but it was below the
  record level achieved in the previous year (-16.1% versus 2019: 7,282.0 MEUR),
  which included two large-scale orders. All business areas saw a decline in
  order intake compared to the previous year.

* The Order backlog as of the end of 2020 amounted to 6,774.0 MEUR and was thus
  significantly lower than the value for the previous year's reference period (-
  12.9% compared to the end of 2019: 7,777.6 MEUR).

* Revenue amounted to 6,699.6 MEUR and reached a new record level, (+0.4%
  compared to 2019: 6,673.9 MEUR.) This is, above all, due to the processing of
  some large-scale orders in the Pulp & Paper business area and the resulting
  high revenue generation, which more than compensated for the decline in
  revenue in the other business areas.

* In combination with cost discipline, this favorable development in revenue led
  to an increase in the Operating result (EBITA) to 391.7 MEUR (2019: 343.2
  MEUR). Profitability (EBITA margin) increased to 5.8% (2019: 5.1%). This
  result includes capacity adjustment measures of around 79 MEUR, particularly
  in the Metals Forming and Hydro business areas. Excluding these extraordinary
  effects, the EBITA amounted to 471.1 MEUR and was thus higher than the
  reference figure for the previous year excluding extraordinary effects (2019:
  456.0 MEUR). At 7.0%, the EBITA margin for 2020 excluding these extraordinary
  effects was higher than the previous year (2019: EBITA margin excluding
  extraordinary effects: 6.8%).

* The Financial result improved significantly compared to the previous year and
  amounted to -34.1 MEUR (2019: -57.0 MEUR). This is largely due to the
  reduction in interest expenses in connection with the decrease in financial
  liabilities and to the improvement in the other financial result (including
  the foreign currency valuation of intercompany loans and bank balances in
  foreign currencies on the balance sheet date).

* The Net income (including non-controlling interests) increased significantly
  to 203.7 MEUR (2019: 122.8 MEUR).

From today's perspective, the ANDRITZ GROUP expects for the full year of 2021
slightly lower revenue compared to the previous year (2020: 6,699.6 MEUR) due to
the lower order intake in 2020 and an increase in the reported EBITA (2020:
391.7 MEUR). The EBITA excluding extraordinary effects should remain
approximately stable compared to the previous year, depending on how revenue
develops (adjusted EBITA 2020: 471.1 MEUR).

If the global economic recovery expected by market researchers for 2021 does not
materialize or the pandemic intensifies again, this may result in negative
effects on the processing of orders and on order intake and hence, a negative
impact on ANDRITZ's financial development. This could lead to additional
adjustment measures in individual business areas, which could have a negative
effect on the ANDRITZ GROUP's earnings and require a revision of the guidance.


                             Unit 2020    2019    +/-    Q4 2020 Q4 2019 +/-
Revenue                      MEUR 6,699.6 6,673.9 +0.4%  1,856.9 1,921.3 -3.4%
- Pulp & Paper               MEUR 3,339.0 2,869.5 +16.4% 891.7   808.6   +10.3%
- Metals                     MEUR 1,420.5 1,636.9 -13.2% 371.5   455.5   -18.4%
- Hydro                      MEUR 1,296.0 1,470.7 -11.9% 403.4   443.9   -9.1%
- Separation                 MEUR 644.1   696.8   -7.6%  190.3   213.3   -10.8%
Order intake                 MEUR 6,108.0 7,282.0 -16.1% 1,363.3 1,482.9 -8.1%
- Pulp & Paper               MEUR 2,961.1 3,632.5 -18.5% 544.8   543.5   +0.2%
- Metals                     MEUR 1,143.6 1,582.2 -27.7% 300.9   343.4   -12.4%
- Hydro                      MEUR 1,335.4 1,350.2 -1.1%  374.0   405.4   -7.7%
- Separation                 MEUR 667.9   717.1   -6.9%  143.6   190.6   -24.7%
Order backlog (as of end of  MEUR 6,774.0 7,777.6 -12.9% 6,774.0 7,777.6 -12.9%
EBITDA                       MEUR 571.1   537.6   +6.2%  166.3   207.7   -19.9%
EBITDA margin                %    8.5     8.1     -      9.0     10.8    -
EBITA                        MEUR 391.7   343.2   +14.1% 113.2   159.3   -28.9%
EBITA margin                 %    5.8     5.1     -      6.1     8.3     -
EBIT                         MEUR 315.0   237.9   +32.4% 96.8    144.1   -32.8%
Financial result             MEUR -34.1   -57.0   +40.2% -8.1    -21.3   +62.0%
EBT                          MEUR 280.9   180.9   +55.3% 88.7    122.8   -27.8%
Net income (including non-   MEUR 203.7   122.8   +65.9% 69.0    82.1    -16.0%
controlling interests)
Cash flow from operating     MEUR 461.5   821.6   -43.8% 206.4   382.4   -46.0%
Capital expenditure          MEUR 131.8   157.1   -16.1% 44.2    60.2    -26.6%
Employees (as of end of      -    27,232  29,513  -7.7%  27,232  29,513  -7.7%
period; without apprentices)

All figures according to IFRS. Due to the utilization of automatic calculation
programs, differences can arise in the addition of rounded totals and
percentages. MEUR = million euros. EUR = euros.

- End -

This press release is available for download at andritz.com/news on the ANDRITZ
web site.

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. Plants for power generation, flue gas cleaning,
recycling, and the production of nonwovens and panelboard complete the global
product and service offering. Innovative products and services in the industrial
digitalization sector are offered under the brand name Metris and help customers
to make their plants more user-friendly, efficient and profitable. The publicly
listed group has around 27,200 employees and more than 280 locations in over 40

Annual and Financial reports are available for download at the ANDRITZ web site
andritz.com, and printed editions can be requested free of charge by e-mail to

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.

Further inquiry note:
Dr. Michael Buchbauer
Head of Group Finance
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465

end of announcement                         euro adhoc

issuer:       Andritz AG
              Stattegger Straße 18
              A-8045 Graz
phone:        +43 (0)316 6902-0
FAX:          +43 (0)316 6902-415
mail:         welcome@andritz.com
WWW:          www.andritz.com
ISIN:         AT0000730007
indexes:      ATX, WBI
stockmarkets: Wien
language:     English

EAX0002    2021-03-03/07:30

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