ANDRITZ reported its 3Q 2012 results

7 November 2012

Nov 07, 2012. /Lesprom Network/. International technology Group ANDRITZ showed solid business development during the third quarter of 2012 and the first three quarters of 2012:

In the third quarter of 2012, sales amounted to 1,265.5 million Euro, which is an increase of 7.9% compared to last year’s reference figure (Q3 2011: 1,173.1 million Euro). With the exception of the SEPARATION business area, all business areas noted increases in sales. In the first three quarters of 2012, sales, at 3,703.3 million Euro, rose by 16.3% compared to the previous year’s reference period (Q1-Q3 2011: 3,184.2 million Euro), as the company said in the press release received by Lesprom Network.

The order intake saw a very satisfactory development in the third quarter of 2012. At 1,238.8 million Euro, it was only slightly below the high level of last year’s reference period (Q3 2011: 1,254.1 million Euro), which included a large order in the amount of approximately 330 million Euro in the HYDRO business area. In the first three quarters of 2012, order intake amounted to 3,793.2 million Euro and was thus 22.6% below the extraordinarily high level of the previous year’s reference period (Q1-Q3 2011: 4,898.6 million Euro), which included two large orders in the PULP & PAPER business area amounting to around 1,100 million Euro in addition to the large order mentioned above (HYDRO: 330 million Euro).

The order backlog as of September 30, 2012 amounted to 6,929.8 miilion Euro (+3.7% vs. December 31, 2011: 6,683.1 million Euro).

EBITA amounted to 86.5 million Euro in the third quarter of 2012 and thus almost reached the previous year’s reference figure (-3.7 % vs. Q3 2011: 89.8 million Euro). The EBITA margin declined to 6.8% (Q3 2011: 7.7%). This decline is mainly attributable to the PULP & PAPER business area (execution of large orders) and the SEPARATION business area (cost overruns at some projects and investments in the expansion of business activities in the emerging markets). The EBITA in the first three quarters of 2012, at 242.1 million Euro, increased by 9.3% compared to the reference period of the previous year (Q1-Q3 2011: 221.4 million Euro). The EBITA margin amounted to 6.5% (Q1-Q3 2011: 7.0%).

Net income (excluding non-controlling interests) increased to 167.2 million Euro during the first three quarters of 2012 (+11.1% vs. Q1-Q3 2011: 150.5 million Euro).

The net worth position and capital structure as of September 30, 2012 remained solid. The total assets increased to 5,103.7 million Euro (December 31, 2011: 4,566.6million Euro). This increase is attributable primarily to the successful issue of a corporate bond with a volume of 350 million Euro (maturity: seven years). Thus, the equity ratio declined to 19.4% (December 31, 2011: 20.6%). The net liquidity amounted to 1,286.4 million Euro (December 31, 2011: 1,400.6 million Euro).

For the full year of 2012, the ANDRITZ GROUP expects an increase in sales to approximately 5 billion Euro. The net income is also expected to rise compared to last year. However, if the global economy should deteriorate further in the coming months, this may have a negative impact on the Group’s earnings.


Themes: Finance

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