07.08.2015, 7288 Zeichen

Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.

6-month report
Graz, August 7, 2015. International technology Group ANDRITZ showed solid business development in the first half of 2015 in a still challenging overall economic environment. The key financial figures developed as follows:
- In the first half of 2015, sales amounted to 3,005.6 MEUR, which is an increase of 13.0% compared to the previous year's reference period (H1 2014: 2,659.4 MEUR). In the second quarter of 2015, sales rose by 11.2% compared to last year's reference figure, reaching 1,601.3 MEUR (Q2 2014: 1,439.9 MEUR).
- Order intake amounted to 2,580.0 MEUR in the first half of 2015 (-13.4% versus H1 2014: 2,980.2 MEUR). While the order intake in the HYDRO business area only dropped slightly (-2.5% versus H1 2014), order intake in the other business areas dropped - in some cases substantially: PULP & PAPER -14.0%, METALS -25.4%, SEPARATION -9.5%. In the second quarter of 2015, order intake amounted to 1,149.4 MEUR (-7.2% versus Q2 2014: 1,238.0 MEUR).
- The order backlog as of June 30, 2015, amounted to 7,349.0 MEUR (-2.2% versus December 31, 2014: 7,510.6 MEUR).
- Earnings and profitability developed favorably. In the first half of 2015, the EBITA rose by 38.6% to 184.9 MEUR (H1 2014: 133.4 MEUR) and the EBITA margin to 6.2% (H1 2014: 5.0%). In the second quarter of 2015, the EBITA amounted to 111.5 MEUR (+31.5% versus Q2 2014: 84.8 MEUR), and the EBITA margin increased to 7.0% (Q2 2014: 5.9%). This positive development is mainly due to the HYDRO and PULP & PAPER business areas, which achieved a substantial increase in profitability compared to the previous year's reference period.
- Net income (without non-controlling interests) rose considerably in the first half of 2015 and amounted to 113.9 MEUR (+70.8% versus H1 2014: 66.7 MEUR).
Wolfgang Leitner, President and CEO of ANDRITZ: "In view of the unchanged difficult economic environment, we are satisfied with the business development in the first half of 2015. However, project and investment activity has slowed down in some of our end markets, in some cases substantially, and this activity has also become increasingly volatile. Hence, we shall continue the structural measures already implemented in the past few years in order to adapt our value chain to these changed market conditions and thus increase our flexibility."
Based on the current project activity in the ANDRITZ business areas and on the order backlog as of the end of June 2015, ANDRITZ currently expects an increase in sales and net income for the 2015 business year compared to the previous year. If, however, the economic weakness in the emerging countries (particularly in China) continues in the coming months, the global economy suffers any severe setbacks, or there is major turmoil in the international foreign currency and financial markets, this could have a negative impact on ANDRITZ's business development. This could necessitate organizational and capacity adjustments in individual business areas and thus result in financial provisions that could negatively impact the earnings of the ANDRITZ GROUP.
- End -
Key financial figures of the ANDRITZ GROUP at a glance
(in MEUR) H1 2015 H1 2014 +/- Q2 2015 Q2 2014 +/- 2014 Sales 3,005.6 2,659.4 +13.0% 1,601.3 1,439.9 +11.2% 5,859.3 HYDRO 866.3 805.5 +7.5% 458.4 442.7 +3.5% 1,752.3 PULP & PAPER 1,043.9 869.3 +20.1% 563.4 469.7 +19.9% 1,969.3 METALS 796.1 722.3 +10.2% 419.0 389.5 +7.6% 1,550.4 SEPARATION 299.3 262.4 +14.1% 160.5 138.1 +16.2% 587.3
Order intake 2,580.0 2,980.2 -13.4% 1,149.4 1,238.0 -7.2% 6,101.0 HYDRO 794.7 814.7 -2.5% 347.7 291.4 +19.3% 1,816.7 PULP & PAPER 908.9 1,057.2 -14.0% 446.5 402.4 +11.0% 1,995.7 METALS 595.4 797.9 -25.4% 210.5 377.8 -44.3% 1,692.8 SEPARATION 281.0 310.4 -9.5% 144.7 166.4 -13.0% 595.8
Order backlog (as of end of period) 7,349.0 7,555.7 -2.7% 7,349.0 7,555.7 -2.7% 7,510.6
EBITDA 230.9 175.7 +31.4% 134.8 106.2 +26.9% 472.0 EBITDA margin (%) 7.7 6.6 - 8.4 7.4 - 8.1
EBITA 184.9 133.4 +38.6% 111.5 84.8 +31.5% 379.5 EBITA margin (%) 6.2 5.0 - 7.0 5.9 - 6.5
Earnings Before Interest and Taxes(EBIT) 159.6 94.4 +69.1% 98.1 65.4 +50.0% 295.7
Financial result 6.7 -1.7 +494.1% 5.6 -0.3 +1,966.7% 3.7
Earnings Before Taxes (EBT) 166.4 92.7 +79.5% 103.8 65.2 +59.2% 299.4
Net income (without non- controlling interests) 113.9 66.7 +70.8% 69.9 46.0 +52.0% 210.9
Cash flow from operating activities -7.8 49.0 -115.9% -45.0 -12.0 -275.0% 342.1
Capital expenditure 36.3 34.4 +5.5% 15.5 17.2 -9.9% 106.5
Employees (as of end of period; without apprentices) 24,992 24,126 +3,6% 24,992 24,126 +3.6% 24,853

All figures according to IFRS. Due to the utilization of automatic calculation programs, differences can arise in the addition of rounded totals and percentages. MEUR = million euros. EUR = euros.
Press release for download The press release is available for download at www.andritz.com/news.
The ANDRITZ GROUP ANDRITZ is a globally leading supplier of plants, equipment, and services for hydropower stations, the pulp and paper industry, the metalworking and steel industries, and for solid/liquid separation in the municipal and industrial sectors. The publicly listed technology Group is headquartered in Graz, Austria, and has a staff of almost 25,000 employees. ANDRITZ operates over 250 sites worldwide.
Annual and financial reports The annual reports and financial reports of the ANDRITZ GROUP are available as PDF for download at www.andritz.com. Printed copies can be requested by e-mail to investors@andritz.com.
Disclaimer Certain statements contained in this press release constitute "forward-looking statements". These statements, which contain the words "believe", "intend", "expect", and words of a similar meaning, reflect the Executive Board's beliefs and expectations and are subject to risks and uncertainties that may cause actual results to differ materially. As a result, readers are cautioned not to place undue reliance on such forward-looking statements. The company disclaims any obligation to publicly announce the result of any revisions to the forward-looking statements made herein, except where it would be required to do so under applicable law.
end of announcement euro adhoc
company: Andritz AG Stattegger Straße 18 A-8045 Graz phone: +43 (0)316 6902-0 FAX: +43 (0)316 6902-415 mail: welcome@andritz.com WWW: www.andritz.com sector: Machine Manufacturing ISIN: AT0000730007 indexes: WBI, ATX Prime, ATX, ATX five stockmarkets: official market: Wien language: English
Digital press kit: http://www.ots.at/pressemappe/2900/aom

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