Andritz 2006 net profit up 51%
Austrian high-technology machinery maker Andritz AG Thursday said its net profit before minorities for 2006 increased 51% on the year, driven by strong demand and the first-time inclusion of subsidiary VA Tech Hydro.
Net profit came in at €121.4 million, up from €80.2 million in 2005, which
was significantly higher than analysts’ expectations of an almost 30% increase
to €102.9 million.
Based on the results, Andritz’ management board
intends to propose a dividend increase to €3 per share, from €2 per share in
2005.
Andritz in the feed
industry is known for equipment supply under brand Andritz
Sprout.
For 2007, Andritz expects sales to increase to around €3 billion,
and net profit to remain at the 2006 level, it said in a
statement.
Andritz said sales rose around 55% to €2.71 billion, from
€1.74 billion in 2005. This was largely attributable to the inclusion of VA
Tech Hydro, acquired in 2006, and a high order backlog and order
intake.
