Andritz Group: Results for the First Quarter of 2014

• Sales amounted to 1,219.5 million euros (MEUR) and were thus 4.8% higher than the reference figure for the previous year (Q1 2013: 1,163.8 MEUR). This increase is due to the Schuler Group; excluding Schuler, sales would have decreased by 8.9% mainly as a result of the project-related low sales genera-tion in several business areas.
• The order intake, at 1,742.2 MEUR, saw a very favorable development, rising by 35.2% compared to the first quarter of 2013 (Q1 2013: 1,288.3 MEUR). The Schuler Group contributed 319.8 MEUR; excluding Schuler, the order intake would have increased by 19.3%, with the PULP & PAPER business area noting a very good order intake.
• The order backlog as of March 31, 2014 increased to 7,734.7 MEUR compared to the end of last year (December 31, 2013: 7,388.5 MEUR).
• The EBITA amounted to 48.6 MEUR (Q1 2013: 14.2 MEUR). Earnings were thus considerably above the very low reference figure of the previous year, which was strongly negatively impacted by high provisions booked for a pulp mill project in South America, but still failed to reach a satisfactory level, as did the EBITA margin at 4.0% (Q1 2013: 1.2%). This is attributable in particular to the project-related low sales generation and cost overruns on some projects in the PULP & PAPER, METALS (excluding Schuler), and SEPARATION business areas.
• Net income (excluding non-controlling interests), at 20.7 MEUR, was significantly above the very low ref-erence figure for the previous year (Q1 2013: 4.1 MEUR).

On the basis of this business development, the order backlog, and the sales contribution by the Schuler Group, which was not included in the accounts for full twelve months in 2013, the Andritz Group ex-pects a slight rise in sales in the 2014 business year compared to the previous year. The net income is currently expected to show a significant improvement compared to the low level in 2013.