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Austria's tech group Andritz sees order intake of €1.5 bn in Q3 2021

06
Nov '21
Pic: Andritz AG
Pic: Andritz AG
Austria-headquartered international technology group Andritz saw good business development in the third quarter of 2021 and EBITA and profitability increased significantly compared to the previous year’s reference period. However, due to the lack of large-scale orders, order intake was just under €1.5 billion and thus below the level of the previous year.

“We are pleased with business development in the first three quarters. At over €5 billion, the Group’s order intake has reached a good level, and earnings and profitability have increased compared to the previous year’s reference period in spite of the slight drop in revenue. We look towards the coming months with confidence and see unchanged good project and investment activity in all of the markets we serve,” said Wolfgang Leitner, president & CEO of Andritz AG.

In Q3 2021, order intake reached a satisfactory level of €1.461 billion. However, it was 14.5 per cent below the high level of the previous year’s reference quarter (Q3 2020: €1.708 billion), which included two large orders from North America and Asia for the Hydro business area.

In the first three quarters of 2021, order intake amounted to €5.052 billion and was 6.5 per cent higher than the figure for the previous year’s reference period (Q1-Q3 2020: €4.744 billion). Particularly, the Metals business area increased its order intake significantly compared to the previous year.

The order backlog as of September 30, 2021 amounted to €7.342 billion, thus increasing compared to December 31, 2020 (+8.4 per cent compared to the end of 2020: €6.774 billion).

Revenue reached €1.521 billion in the third quarter of 2021 and was thus well below the figure for the previous year’s reference period (Q3 2020: €1.669 billion). “This decline is largely attributable to the Pulp & Paper business area, which processed some larger orders with a strong impact on revenue in the previous year’s reference period,” the company said while disclosing its financial results for the third quarter.

Revenue, at €4.548 billion, was also below the previous year’s reference figure (-6.1 per cent compared to Q1-Q3 2020: €4.842 billion) in the first three quarters of 2021.

At €127.3 million, the EBITA in the third quarter of 2021 was considerably higher than the figure for the previous year’s reference period (Q3 2020: €104.2 million), which included extraordinary effects amounting to €26 million for capacity adjustments in the Metals Forming segment and the Hydro business area. Profitability (EBITA margin) reached a very good level at 8.4 per cent (EBITA margin Q3 2020: 6.2 per cent). The EBITA in the first three quarters of 2021 amounted to €365 million (+31.1 per cent compared to Q1-Q3 2020: €278.5 million).

Net income (without non-controlling interests) increased significantly to €76.2 million (Q3 2020: €52.4 million). In the first three quarters of 2021, net income (without non-controlling interests) amounted to €212.9 million (Q1-Q3 2020: €137.3 million) and was thus 55 per cent higher than the level of the previous year’s reference period.

For the coming months, the Andritz Group anticipates good project and investment activity, remaining largely unchanged compared to the preceding quarters, in all four business areas. The company continues to expect a significant increase in the EBITA reported for the full year of 2021 compared to the previous year and anticipates profitability (EBITA margin reported) of around 8 per cent (EBITA margin reported in 2020: 5.8 per cent). However, it expects a slight decline in revenue for the full year of 2021 compared to the previous year.

Fibre2Fashion News Desk (RKS)

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