ANDRITZ Reports Strong Q3 2023 Performance, Expands Green Hydrogen Presence

ANDRITZ Reports Strong Q3 2023 Performance, Expands Green Hydrogen Presence

(IN BRIEF) In the third quarter of 2023, ANDRITZ, an international technology group, achieved substantial growth in revenue, earnings, and net income compared to the previous year. While the total order intake declined due to the absence of a large pulp mill order, the company saw increased orders in key areas such as Hydro, Metals, and Separation. Notably, ANDRITZ entered the green hydrogen market with its first engineering order in the second quarter and secured its first order for a complete green hydrogen plant in the third quarter. Joachim Schönbeck, President & CEO of ANDRITZ AG, emphasized the company’s dedication to innovation and sustainability as they continue to expand their product range for the green transition. The company’s solid financial performance, including a 26.6% increase in net income in Q3, positions them for further growth and stable profitability in the coming year.

(PRESS RELEASE) GRAZ, 2-Nov-2023 — /EuropaWire/ — International technology group ANDRITZ achieved strong increases in revenue, earnings, and net income in the third quarter of 2023 compared to the previous year’s reference period. The group has thus continued the positive development of the previous quarters.

Total order intake declined from the previous year’s reference quarter, which included a large pulp mill order. However, order intake increased in the business areas Hydro, Metals, and Separation. The order intake for sustainable solutions and products was very satisfactory.

After entering the green hydrogen market with its first engineering order in the second quarter of 2023, ANDRITZ booked its first order for the supply of a complete green hydrogen plant in the third quarter. German steel producer Salzgitter Group selected ANDRITZ to supply one of the largest green hydrogen plants in Europe as part of its sustainable transformation program.

Joachim Schönbeck, President & CEO of ANDRITZ AG, stated: “Our products and solutions serving the green transition of the economy are increasingly contributing to our order intake. We are steadily expanding this product range, reaffirming our commitment to innovation and sustainability. The solid growth in our service revenues continued in the third quarter, helping us to further stabilize our business.”

The Group’s financial key figures:

• Order intake in the third quarter of 2023 amounted to 1,803.5 MEUR and was thus 32.8% below the previous year’s reference figure (Q3 2022: 2,683.4 MEUR). The Metals, Hydro and Separation business areas were able to increase their order intake compared to the previous year’s reference quarter. In the Pulp & Paper business area, however, order intake significantly declined as a large order for a complete pulp mill was booked in Q3 2022.
• Order backlog as of September 30, 2023 amounted to 10,361.2 MEUR and increased by 3.9% compared with the end of 2022 (9,976.5 MEUR).
• Revenue in the third quarter of 2023 reached 2,104.1 MEUR and was thus well above the previous year’s reference period (+11.3% compared to Q3 2022: 1,890.8 MEUR). All four business areas noted significant increases in revenue compared to the previous year. Revenue in the first three quarters of 2023, at 6,213.1 MEUR, was also significantly higher than the previous year’s reference figure (+19.3% versus Q1-Q3 2022: 5,207.8 MEUR).

• EBITA in the third quarter of 2023 amounted to 176.4 MEUR, considerably higher than in the previous year’s reference period (+15.6% compared to Q3 2022: 152.6 MEUR). The EBITA in the first three quarters of 2023 amounted to 509.0 MEUR (+19.5% compared to Q1-Q3 2022: 425.8 MEUR). Profitability (EBITA margin) at 8.4% in Q3 2023 increased compared to Q3 2022 (8.1%).

• Net income (including non-controlling interests) increased significantly to 124.6 MEUR in the third quarter of 2023 (+26.6% compared to Q3 2022: 98.4 MEUR). In the first three quarters of 2023, net income (including non-controlling interests) amounted to 346.1 MEUR
  (Q1-Q3 2022: 262.3 MEUR), thus 31.9% higher than in the reference period of last year.

For the full business year 2023, ANDRITZ confirms the financial guidance published with the results for the first half of 2023 and, from today’s perspective, expects a significant increase in revenue and earnings as well as stable profitability (EBITA margin).

ANDRITZ GROUP
International technology group ANDRITZ offers a broad portfolio of innovative plants, equipment, systems, services and digital solutions for a wide range of industries and end markets. Sustainability is an integral part of the company’s business strategy and corporate culture. With its extensive portfolio of sustainable products and solutions, ANDRITZ aims to make the greatest possible contribution to a sustainable future and help its customers achieve their sustainability goals. ANDRITZ is a global market leader in all four of its business areas – Pulp & Paper, Metals, Hydro and Separation. Technological leadership and global presence are cornerstones of the group’s strategy, which is focused on long-term profitable growth. The publicly listed group has around 29,800 employees and over 280 locations in more than 40 countries.

Media Contact:

Susan Trast
HEAD OF CORPORATE COMMUNICATIONS & MARKETING
susan.trast@andritz.com

SOURCE: ANDRITZ