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Company update: Andritz Group

International technology Group Andritz showed favorable business development in the 2010 business year...

  • Sales amounted to 3,553.8 MEUR, which is 11.1% higher than the reference figure for 2009 (3,197.5 MEUR). With the exception of the Metals business area, where sales dropped significantly compared to 2009 due to the continuing difficult market environment in the international steel industry, all business areas were able to achieve a significant increase in sales compared to 2009.
  • The group’s order intake rose by 23.4% to 4,131.9 MEUR (2009: 3,349.3 MEUR) – the highest level in the company’s history. This increase was mainly attributable to the Hydro, Pulp & Paper, and Environment & Process business areas.
     
  • The order backlog as of December 31, 2010 reached 5,290.9 MEUR, an increase of 19.3% compared to the previous year’s reference figure (December 31, 2009: 4,434.5 MEUR).
     
  • The EBITA amounted to 257.6 MEUR and was thus 57.0% higher than the reference figure for the previous year (2009: 164.1 MEUR), which was impacted by restructuring measures that were necessary due to the global economic crisis. Thus, profitability (EBITA margin) increased to 7.2% (2009: 5.1%).
     
  • The net income of the Group (excluding non-controlling interests) amounted to 179.6 MEUR (+85.5% vs. 2009: 96.8 MEUR).
     
  • The balance sheet structure as of December 31, 2010 continued to be solid: The total assets increased to 4,035.8 MEUR (December 31, 2009: 3,309.3 MEUR). The equity ratio was 19.7% (December 31, 2009: 20.0%). The liquid funds (cash and cash equivalents plus marketable securities) as of December 31, 2010 amounted to 1,594.7 MEUR (December 31, 2009: 1,082.1 MEUR). The net liquidity (liquid funds plus fair value of interest rate swaps minus financial liabilities) increased to 1,177.0 MEUR (December 31, 2009: 677.9 MEUR).
     
  • At the coming annual general meeting, the Executive Board will propose to increase the dividend to 1.70 EUR per share (2009: 1.00 EUR).
 
Outlook for the 2011 business year:
Andritz expects a favorable market environment overall in 2011. Wolfgang Leitner, President & CEO of Andritz AG, comments: ‘The positive market situation should continue for the Hydro, Pulp & Paper, and Environment & Process business areas. I also anticipate good project activity for both segments within Feed & Biofuel, however only the Metals business area should continue to face a more subdued economic environment.’

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