Company update: Andritz Group Q1 2011

Sales amounted to €923.7 million, thus 26.1% higher than the reference figure for the previous year (€ 732.3 m). While sales of the Pulp & Paper and Environment & Process business areas increased substantially compared to the first quarter of 2010, sales in the Metals business area declined slightly.

 

Order intake developed very favourably. At €1,666m, it almost doubled compared to last year’s reference period (+83.4% vs. Q1 2010: €908.4 m).

 

EBITA in the first quarter of 2011, at €56.1 m, increased by 28.4% compared to Q1 2010 (€43.7 m), rising slightly more than sales. Thus, profitability (EBITA margin) increased slightly to 6.1% (Q1 2010: 6.0%).

 

Net income (excluding non-controlling interests) amounted to €37.0 m (Q1 2010: €28.9 m).

 

President and CEO Wolfgang Leitner expects a good market environment and solid project activity to continue in all of their businesses. “Except metals, where we anticipate project and investment activity to remain subdued, at least until the end of the year.”

 

On the basis of these expectations and the order backlog of approximately €6.4 billion as of March 31, 2011, the Andritz Group expects a significant increase in sales in 2011 compared to 2010. Net income is also expected to rise compared to the previous year.