ANDRITZ Again Significantly Increases Revenue and Earnings in the First Quarter of 2023

08.05.2023
International technology group ANDRITZ has started the 2023 business year with unchanged high growth dynamics despite a slowing global economy. Revenue and operating result both increased significantly by well over 20 percent in the first quarter of 2023 compared with the same period of the previous year.
ANDRITZ Again Significantly Increases Revenue and Earnings in the First Quarter of 2023

Image source: ANDRITZ AG

Net income improved by almost 50 percent to 104.5 million euros (MEUR). Order intake reached a favorable level of 2.4 billion euros but was 6.5 percent below the figure for the first quarter of 2022, when the booking of two large-scale orders had provided an exceptional peak.

CEO Dr. Joachim Schönbeck stated: “ANDRITZ showed exceptionally strong growth and resilience during the first quarter in the face of a weakening economy, rising interest rates, and turbulence in the banking sector. Our broad portfolio of available future technologies for the transformation of our customers' production processes toward sustainability provides a stable foundation for the further expansion of our global market position.”

The key financial figures developed as follows during the reporting period:

  • Order intake amounted to 2,420.2 MEUR and was thus 6.5% below the high level of the previous year’s reference period (Q1 2022: 2,588.6 MEUR), which included two large-scale orders. The Metals business area was able to increase its order intake significantly compared to the previous year’s reference period.
  • The order backlog as of March 31, 2023 amounted to 10,407.8 MEUR and has thus increased compared to 2022 (December 31, 2022: 9,976.5 MEUR).
  • Revenue at 1,962.6 MEUR was 28.5% higher than the reference figure for the previous year’s reference period (Q1 2022: 1,526.9 MEUR). All four business areas were able to significantly increase their revenue compared to the previous year.
  • The operating result (EBITA) increased in line with revenue, reaching a very favorable level at 158.5 MEUR in the first quarter of 2023 (+29.6% versus Q1 2022: 122.3 MEUR). The Group’s profitability (EBITA margin) increased slightly to 8.1% (Q1 2022: 8.0%).
  • Net income (without non-controlling interests) increased significantly to 104.5 MEUR (Q1 2022: 71.5 MEUR).

Chief Financial Officer Norbert Nettesheim said: “In particular, the strong increase in our operating result is encouraging and shows that ANDRITZ continues to grow profitably. The continued improvement in profitability in the Metals business area with the Schuler Group is particularly positive.”

Following the successful first quarter, ANDRITZ confirms its previously published outlook for the full year 2023. Both revenue and earnings for the full year are expected to be above the level of 2022.

CEO Dr. Joachim Schönbeck: “We are seeing continued brisk project activity in all our business areas and continued lively investment interest from our customers. In this context, we are confident that our new products, such as plants for CO2 capture, for the production of green hydrogen and for battery production, will make a particular contribution to growth.”

Source: ANDRITZ AG

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