Austrian company Andritz’s revenue rises to €8.7 bn in 2023

March 01, 2024 - Austria

The revenue of international technology group Andritz has increased to €8.7 billion in fiscal 2023, up by 15 per cent. The company’s net income (including non-controlling interests) increased significantly compared to the previous year, amounting to €504.3 million, up by 25.3 per cent from 2022.

The operating result (EBITA) grew by 14.4 per cent in line with revenue and reached €741.9 million, also a record level. Profitability (EBITA margin) remained at 8.6 per cent. The comparable EBITA margin increased from 8.5 per cent in 2022 to 8.7 per cent in 2023.

The order intake for 2023, at €8,551.9 million, was somewhat lower than in the previous year. However, the hydro, metals and separation business areas were able to increase their order intakes and thus partly compensate for the decline in the pulp & paper business area, which was impacted by a global market weakness regarding new capacities, the company said in a press release.

In 2023, Andritz not only won its first large-scale order for a green hydrogen plant but also the first order for a large, fully automated cell formation plant to produce battery cells for e-mobility. In the fourth quarter of 2023, Andritz received orders for major pumped storage projects in Austria and Greece.

“Providing economically viable solutions that support industries in their decarbonisation effort is an integral part of our company strategy. We are very pleased that these solutions play an increasingly important role in our growth,” said Joachim Schönbeck, president & CEO of Andritz. “The increase in order intake in the fourth quarter of 2023 and the book-to-bill ratio, which reached almost 1 for the full year, show the company’s resilience in a difficult economic and geopolitical environment.”