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Andritz records order intake at €1,532.8 million in Q1FY18

03 May '18

2 min read

Courtesy: Andritz

Andritz, a provider of state-of-the-art nonwoven technology and textile technology for a great variety of applications, has posted order intake at €1,532.8 million in the first quarter of fiscal 2018. The intake reached a very favourable level and was thus only slightly below the high of €1,560.0 million for the same period in fiscal 2017.

The company's sales decreased to € 1,291.0 million and were thus 6.9 per cent below the level of the previous year’s reference period (Q1 2017: €1,386.2 million). The EBITA amounted to € 71.7 million (-26.4% compared to Q1 2017: €97.4 million) and was thus significantly lower than the figure for the previous year’s reference period.

In spite of the decline in sales and earnings during the reporting period, Andritz expects unchanged an overall satisfactory business development from today’s perspective for 2018. In the coming months, the rising order intake since the second quarter of 2017 is expected to make up for the lower sales in the present reporting period and the related lower earnings.

"In spite of the moderate development of sales and earnings in the first quarter, we expect solid business development for the 2018 business year as a whole. The development of order intake in the past few quarters as well as the good project and investment activities overall in the markets we serve give us good grounds for optimism," Wolfgang Leitner, president and CEO of Andritz. (RR)

Fibre2Fashion News Desk – India