Company update: Andritz Group H1 2011
International technology Group Andritz showed a good business development in the second quarter of 2011 and increased all relevant key figures compared to last year’s reference period.
Sales of the Group amounted to €1,087.4 million in the second quarter of 2011 and was 31.0% higher than the reference figure for the previous year (Q2 2010: €829.9m).
While sales of Feed & Biofuel were unchanged, all other business areas noted a substantial increase in sales. In the first half of 2011, sales of the Group amounted to €2,011.1m, rising by 28.7% compared to last year’s reference figure (H1 2010: €1,562.2m).
The order intake in the second quarter of 2011, at €1,978.5m, reached the highest quarterly figure in the company’s history and rose by 41.8% compared to the high level of 2010 (Q2 2010: €1,395.3m).
The Pulp & Paper and the Environment & Process business areas saw a substantial increase in order intake. In the first half of 2011, Group order intake amounted to €3,644.5m (+58.2%).
The order backlog as of June 30, 2011, at €7,249.0m, also reached a new record level and increased by 37.0% compared to the figure at the end of 2010.
The EBITA amounted to €75.5m in Q2 2011 (+39.3%) and rose considerably more than sales. Thus, profitability (EBITA margin) increased to 6.9% (Q2 2010: 6.5%). The EBITA in the first half of 2011 rose to €131.6m (+34.4%), while the EBITA margin reached 6.5% (H1 2010. 6.3%).
Outlook
Commenting on the outlook for the 2011 business year, President and CEO Wolfgang Leitner says: “At
present, we see a good market environment and solid project activity. Only in the Metals business area, the moderate project and investment activity is expected to continue.”
Based on these expectations and the business results for the first six months of this year, the Andritz Group continues to expect a substantial increase in sales and a rise in net income in the 2011 business year compared to the previous year.
If however, the global economy suffers a setback due to the Euro and US debt crises in the coming months, this could have a negative impact on the business development of the Group
Full financial details can be found on the Andritz website.
