EANS-News: ANDRITZ GROUP: Results for the first quarter of 2021 CNE

4/29/2021, 7:30 AM (Source: euro adhoc)
  Corporate news transmitted by euro adhoc with the aim of a Europe-wide
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Quarterly Report

Graz - April 29, 2021. International technology Group ANDRITZ showed solid
business development in the first quarter of 2021 in spite of the overall
unchanged and difficult economic environment. At over 1.7 billion euros, order
intake reached a high level and the company's net income practically doubled
despite a slight decline in revenue compared to the previous year's reference

Wolfgang Leitner, President & CEO of ANDRITZ AG: "We are very pleased with
business development in the first quarter of 2021. In particular, the
development of order intake, which provides the basis for future revenue and
earning development, makes us feel positive. With regard to the development of
the markets we serve, we remain cautiously optimistic for the coming months and
expect solid project and investment activity overall."

The key financial figures developed as follows during the reporting period:

* Order intake amounted to 1,729.5 million euros (MEUR) and was thus only 6.7%
  below the previous year's reference period (Q1 2020: 1,852.9 MEUR), which
  included a large-scale order in the Pulp & Paper business area. In particular,
  the Metals and Hydro business areas were able to increase their order intake
  significantly compared to the previous year's reference period. Order intake
  for the service business also saw very favorable development, rising
  significantly compared to the preceding quarters.

* The order backlog as of March 31, 2021, amounted to 7,071.3 MEUR and has thus
  risen compared to the end of 2020 (December 31, 2020: 6,774.0 MEUR).

* Revenue at 1,493.2 MEUR, was only 1.1% lower than in the previous year's
  reference period (Q1 2020: 1,510.2 MEUR). This is largely attributable to the
  Metals business area, where revenue declined due to the lower order intake in
  the past year.

* Despite the slightly lower revenue, the operating result (EBITA) increased
  significantly compared to the previous year, amounting to 110.9 MEUR (+58.2%
  versus Q1 2020: 70.1 MEUR). As a result, the Group's profitability (EBITA
  margin) increased to 7.4% (Q1 2020: 4.6%). This is mainly due to the
  continuing good business development in the Pulp & Paper business area, which
  succeeded in increasing its profitability slightly compared to the previous
  year. Furthermore, earnings in the Metals business area improved
  significantly, above all due to the positive impact of the cost adjustment
  measures implemented in the previous year.

* The earnings before interest and taxes (EBIT) increased to 96.4 MEUR (Q1 2020:
  53.8 MEUR), while the net income (without non-controlling interests)
  practically doubled compared to the previous year's reference period, reaching
  62.1 MEUR (Q1 2020: 31.5 MEUR).

Regarding the business development for full-year 2021, ANDRITZ confirms the
expectations voiced on the occasion of the publication of the 2020 financial
results in March 2021 and expects - due to a reduced order intake in 2020 -
slightly lower revenue (2020: 6,699.6 MEUR) compared to the previous year and an
increase in EBITA reported (2020: 391.7 MEUR). The EBITA adjusted by
extraordinary items should remain roughly stable compared to the previous year
(adjusted EBITA 2020: 471.1 MEUR), depending on how revenue develops.

If the global economic recovery expected by market researchers for 2021 does not
take place 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 financial
provisions for 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.


|Net income (without non-controlling      |MEUR|62.1   |31.5   |+97.1%|207.1  |
|Cash flow                                |MEUR|69.2   |56.9   |+21.6%|461.5  |
|Employees (as of end of period; without  |-   |26,952 |28,411 |-5.1% |27,232 |

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.

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 26,950 employees and more than 280 locations in over 40

The annual and financial reports are available for download on the ANDRITZ web
site at andritz.com.

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:      WBI, ATX
stockmarkets: Wien
language:     English

EAX0007    2021-04-29/07:30

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