#Nonwovens / Technical Textiles

2022-11-10

ANDRITZ GROUP reports continued very favorable business development in the 3rd quarter of 2022

As in the previous quarters, international technology group ANDRITZ saw very favorable business development in the third quarter of 2022. Order intake amounted to almost 2.7 billion euros, exceeding two billion euros for the fourth quarter in a row. At 10.8 billion euros at the end of September 2022, the order backlog reached a new record level.

Four quarters in a row with order intake of over two billion euros

Record order backlog of almost 11 billion euros

Strong increase in revenue

Significant increase in net income

Joachim Schönbeck, President & CEO of ANDRITZ AG: “All four of our business areas offer a wide range of sustainable products and solutions that serve current mega trends such as decarbonization, e-mobility, energy transition, and circular economy. This is reflected in the very pleasing development of our order intake. Despite short-term worries about a recession, we see growing demand for our products and solutions in the medium and long term.”

The Group’s financial key figures:

Order intake in the third quarter of 2022 amounted to 2,683.4 MEUR and was thus almost twice as high than the figure for the previous year’s reference period (Q3 2021: 1,461.0 MEUR). Especially the Pulp & Paper and Metals business areas contributed to this significant increase.

Order backlog as of September 30, 2022 amounted to 10,822.2 MEUR, thus reaching a historical record high (+32.5% compared to the end of 2021: 8,165.8 MEUR).

Revenue reached 1,890.8 MEUR in the third quarter of 2022 and was thus well above the figure for the previous year’s reference period (Q3 2021: 1,521.5 MEUR). All four business areas noted significant increases in revenue compared to the previous year. Revenue, at 5,207.8 MEUR, was also significantly higher than the previous year’s reference figure (+14.5% versus Q1-Q3 2021: 4,548.5 MEUR) in the first three quarters of 2022.

At 152.6 MEUR, the EBITA in the third quarter of 2022 was considerably higher than the figure for the previous year’s reference period (Q3 2021: 127.3 MEUR). The EBITA in the first three quarters of 2022 amounted to 425.8 MEUR (+16.7% compared to Q1-Q3 2021: 365.0 MEUR). Profitability (EBITA margin) at 8.2% was higher compared to the previous year’s reference period (EBITA margin Q1-Q3 2021: 8.0%).

Net income (without non-controlling interests) increased significantly in the third quarter of 2022 to 100.8 MEUR (Q3 2021: 76.2 MEUR). In the first three quarters of 2022, the net income (without non-controlling interests) amounted to 268.0 MEUR (Q1-Q3 2021: 212.9 MEUR) and was thus 25.9% higher than the level of the previous year’s reference period.

OUTLOOK, FINANCIAL GUIDANCE

For 2022 as a whole, ANDRITZ therefore confirms the financial guidance published when the results for the first quarter of 2022 were announced and, from today’s perspective, expects an increase in revenue as well as in EBITA and net income compared to the previous year.

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