August 12, 2010
Andritz Group records positive development in H1
Austria-based international technology and feed manufacturing equipment supplier, Group Andritz showed a favourable business development in the first half of 2010.
Especially in the second quarter, sales, earnings, and profitability rose substantially compared to the previous year''s reference figures. Order intake in the second quarter of 2010 reached the highest quarterly figure in the company''s history.
In the second quarter of 2010, sales of the Andritz Group rose by 5.9%, to EUR829.9 million (Q2 2009 at EUR784 million).
Thus, sales of the Group in the first half of 2010, at EUR1,562.2 million, were only slightly below the reference figure for the previous year (H1 2009 at EUR1,574.1 million).
Order intake in the second quarter of 2010 amounted to EUR1,395.3 million, which was the highest quarterly figure ever achieved in the company''s history. Compared to the reference figure for the previous year, order intake almost doubled.
EBITA for Andritz in Q2 amounted to EUR54.2 million and was many times higher than the very low reference figure for Q2 2009 (EUR12.8 million), which was impacted by restructuring expenses of approximately EUR24 million.
Earnings increased by 46.1% as profitability (EBITA margin) rose substantially in the second quarter of 2010, to 6.5% (Q2 2009: 1.6%; 4.7% excluding restructuring expenses), with all business areas showing significant increases in earnings in absolute terms, as well as in profitability.
EBITA of the group in the first half of 2010 increased to EUR97.9 million (H1 2009: EUR56.5 million), while the EBITA margin was up to 6.3%. The net income (excluding non-controlling interests) amounted to EUR67.3 million in the first half of 2010 and was thus more than double the figure for the previous year''s reference period (H1 2009 at EUR32.5 million).
Meanwhile, Andritz expects solid project activity in all business areas for the coming months and confirms the sales and earnings expectations for the 2010 business year published with the figures for the full year 2009. Sales should at least reach the level of 2009 or increase slightly, while net income should be impacted positively by the cost reductions resulting from restructuring measures initiated in 2009.