Andritz Q1: Increase in sales, drop in profit
International technology Group Andritz (a.o. Sprout Matador) increased its sales during the first quarter of 2009 in comparison with last year's reference period, but earnings were down slightly, especially in the pulp & paper business area.
Order intake was lower than the previous year’s high reference value. The Group’s order backlog, at approx. €4.5 billion as of March 31, 2009, was solid and further increased compared to the value as of end of December 2008.
The Andritz Group continues to expect its sales to decline by about 15% in the full year 2009 and its net income also to decrease versus the financial year 2008.
Andritz confirms its sales and earnings guidance for the financial year 2009 published with the financial figures for 2008 and expects sales to decline by approx. 15% and the net income to decrease in comparison to 2008.
“The difficult overall economic environment hasn’t changed during the past few months. The likelihood of project realizations and therefore the development of the order intake are very difficult to assess, especially in the pulp & paper und metals business areas.
“For the hydro business area, we expect the good development to continue’, says Wolfgang Leitner, President & CEO.
“Already in 2008, we started to adapt our capacities in some areas, and therefore, from today’s point of view, we are well equipped for this difficult environment,” he adds.
To comment, login here
Or register to be able to comment.