Satisfactory business development at ANDRITZ
August 14, 2012 - Austria
Group ANDRITZ showed satisfactory business development in Q2/H1 2012:
- Sales of the ANDRITZ GROUP amounted to 1,252.1 MEUR in the second quarter of 2012, which is an increase of 15.1% compared to last year’s reference period (Q2 2011: 1,087.4 MEUR). Particularly the PULP & PAPER business area noted a sharp rise in sales. In the first half of 2012, sales of the Group reached 2,437.8 MEUR (+21.2% vs. H1 2011: 2,011.1 MEUR).
- The order intake, in the second quarter of 2012 at 1,193.2 MEUR and in the first half of 2012 at 2,554.4 MEUR, reached a satisfactory level overall – even though it was significantly below the very high reference figures of last year (-39.7% vs. Q2 2011: 1,978.5 MEUR and -29.9% vs. H1 2011: 3,644.5 MEUR), which included two large PULP & PAPER orders (a 350 MEUR order booked in Q1 2011 and a 750 MEUR order booked in Q2 2011). In the SEPARATION and FEED & BIOFUEL business areas in particular, the order intake developed very favorably in the second quarter of 2012.
- The order backlog as of June 30, 2012 amounted to 6,935.9 MEUR, thus increasing slightly compared to the reference value as of December 31, 2011 (6,683.1 MEUR: +3.8%).
- EBITA in the second quarter of 2012, at 83.1 MEUR, rose by 10.1% compared to last year’s reference figure (Q2 2011: 75.5 MEUR). EBITA margin, at 6.6%, was lower than in the second quarter of 2011 (6.9%). This is mainly attributable to PULP & PAPER (execution of large orders) and SEPARATION (expenses for regional expansion). In the first half of 2012, the EBITA increased to 155.6 MEUR (+18.2% vs. H1 2011: 131.6 MEUR); the EBITA margin, at 6.4%, was practically unchanged compared to last year’s reference figure (H1 2011: 6.5%).
- Net income (excluding non-controlling interests) increased by 22.8% compared to the previous year’s reference period to 108.7 MEUR (H1 2011: 88.5 MEUR).
- The net worth position and capital structure as of June 30, 2012 remained solid. The equity ratio was at 20.3% (December 31, 2011: 20.6%). Liquid funds amounted to 1,631.2 MEUR (December 31, 2011: 1,814.5 MEUR) and the net liquidity to 1,205.0 MEUR (December 31, 2011: 1,400.6 MEUR). This decline is mainly due to the purchase of approximately 25% of the shares in Schuler AG (slightly less than 150 MEUR).
Commenting on the expectations for the 2012 business year, President and CEO Wolfgang Leitner says: “In spite of the increasing uncertainty with regard to the economic development in our main end customer industries as well as in China and South America, we currently still see sufficient project activity in the majority of the markets that we serve.”
On the basis of these expectations and given the very high order backlog of slightly less than 7 billion EUR as of June 30, 2012, the ANDRITZ GROUP expects an increase in sales in 2012 in comparison with the previous year’s figures. The net income is also expected to rise compared to last year. If, however, the global economy continues to suffer more severe setbacks in 2012, this could have a negative impact on the sales and earnings developments of the ANDRITZ GROUP, making it impossible to achieve the sales and earnings targets set.
- Sales of the ANDRITZ GROUP amounted to 1,252.1 MEUR in the second quarter of 2012, which is an increase of 15.1% compared to last year’s reference period (Q2 2011: 1,087.4 MEUR). Particularly the PULP & PAPER business area noted a sharp rise in sales. In the first half of 2012, sales of the Group reached 2,437.8 MEUR (+21.2% vs. H1 2011: 2,011.1 MEUR).
- The order intake, in the second quarter of 2012 at 1,193.2 MEUR and in the first half of 2012 at 2,554.4 MEUR, reached a satisfactory level overall – even though it was significantly below the very high reference figures of last year (-39.7% vs. Q2 2011: 1,978.5 MEUR and -29.9% vs. H1 2011: 3,644.5 MEUR), which included two large PULP & PAPER orders (a 350 MEUR order booked in Q1 2011 and a 750 MEUR order booked in Q2 2011). In the SEPARATION and FEED & BIOFUEL business areas in particular, the order intake developed very favorably in the second quarter of 2012.
- The order backlog as of June 30, 2012 amounted to 6,935.9 MEUR, thus increasing slightly compared to the reference value as of December 31, 2011 (6,683.1 MEUR: +3.8%).
- EBITA in the second quarter of 2012, at 83.1 MEUR, rose by 10.1% compared to last year’s reference figure (Q2 2011: 75.5 MEUR). EBITA margin, at 6.6%, was lower than in the second quarter of 2011 (6.9%). This is mainly attributable to PULP & PAPER (execution of large orders) and SEPARATION (expenses for regional expansion). In the first half of 2012, the EBITA increased to 155.6 MEUR (+18.2% vs. H1 2011: 131.6 MEUR); the EBITA margin, at 6.4%, was practically unchanged compared to last year’s reference figure (H1 2011: 6.5%).
- Net income (excluding non-controlling interests) increased by 22.8% compared to the previous year’s reference period to 108.7 MEUR (H1 2011: 88.5 MEUR).
- The net worth position and capital structure as of June 30, 2012 remained solid. The equity ratio was at 20.3% (December 31, 2011: 20.6%). Liquid funds amounted to 1,631.2 MEUR (December 31, 2011: 1,814.5 MEUR) and the net liquidity to 1,205.0 MEUR (December 31, 2011: 1,400.6 MEUR). This decline is mainly due to the purchase of approximately 25% of the shares in Schuler AG (slightly less than 150 MEUR).
Commenting on the expectations for the 2012 business year, President and CEO Wolfgang Leitner says: “In spite of the increasing uncertainty with regard to the economic development in our main end customer industries as well as in China and South America, we currently still see sufficient project activity in the majority of the markets that we serve.”
On the basis of these expectations and given the very high order backlog of slightly less than 7 billion EUR as of June 30, 2012, the ANDRITZ GROUP expects an increase in sales in 2012 in comparison with the previous year’s figures. The net income is also expected to rise compared to last year. If, however, the global economy continues to suffer more severe setbacks in 2012, this could have a negative impact on the sales and earnings developments of the ANDRITZ GROUP, making it impossible to achieve the sales and earnings targets set.