Financials Andritz AG OTC Markets

Equities

ADRZY

US0345221024

Industrial Machinery & Equipment

Market Closed - OTC Markets Other stock markets 09:39:50 2024-05-14 am EDT			5-day change	1st Jan Change
11.6 ^USD	+0.17%		+5.74%	-9.59%

Apr. 25	Andritz AG Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 25	Transcript : Andritz AG, Q1 2024 Earnings Call, Apr 25, 2024

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,877	3,743	4,504	5,312	5,578	5,397	-	-
Enterprise Value (EV) ¹	3,992	3,632	4,114	4,569	5,128	4,676	4,356	4,184
P/E ratio	30.2 x	18 x	13.8 x	12.9 x	11 x	10.9 x	10.1 x	9.02 x
Yield	1.82%	2.67%	3.64%	3.92%	4.43%	4.85%	5.19%	5.7%
Capitalization / Revenue	0.58 x	0.56 x	0.7 x	0.7 x	0.64 x	0.63 x	0.61 x	0.57 x
EV / Revenue	0.6 x	0.54 x	0.64 x	0.61 x	0.59 x	0.54 x	0.49 x	0.44 x
EV / EBITDA	7.43 x	6.36 x	5.73 x	5.53 x	5.63 x	5.17 x	4.58 x	4.02 x
EV / FCF	5.71 x	9.72 x	9.81 x	8.68 x	34.5 x	10.5 x	7.81 x	6.99 x
FCF Yield	17.5%	10.3%	10.2%	11.5%	2.9%	9.57%	12.8%	14.3%
Price to Book	3.18 x	2.96 x	2.86 x	2.87 x	2.57 x	2.23 x	2.01 x	1.81 x
Nbr of stocks (in thousands)	100,977	99,867	99,256	99,191	98,904	99,210	-	-
Reference price ²	38.40	37.48	45.38	53.55	56.40	54.40	54.40	54.40
Announcement Date	3/4/20	3/3/21	3/8/22	3/8/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	6,674	6,700	6,463	7,543	8,660	8,583	8,884	9,474
EBITDA ¹	537.6	571.1	718.3	825.5	910.2	904	951.2	1,040
EBIT ¹	237.9	315	479.6	572.7	685.2	690.3	738.1	806
Operating Margin	3.56%	4.7%	7.42%	7.59%	7.91%	8.04%	8.31%	8.51%
Earnings before Tax (EBT) ¹	180.9	280.9	439.6	540.9	688.2	681.3	733.4	817.5
Net income ¹	127.8	207.1	325.5	409.6	510.2	510.9	542	603.8
Net margin	1.91%	3.09%	5.04%	5.43%	5.89%	5.95%	6.1%	6.37%
EPS ²	1.270	2.080	3.280	4.140	5.150	4.997	5.409	6.034
Free Cash Flow ¹	699.5	373.6	419.3	526.4	148.8	447.3	558	598.2
FCF margin	10.48%	5.58%	6.49%	6.98%	1.72%	5.21%	6.28%	6.31%
FCF Conversion (EBITDA)	130.12%	65.42%	58.37%	63.77%	16.35%	49.48%	58.67%	57.54%
FCF Conversion (Net income)	547.35%	180.37%	128.82%	128.52%	29.17%	87.54%	102.95%	99.07%
Dividend per Share ²	0.7000	1.000	1.650	2.100	2.500	2.638	2.825	3.100
Announcement Date	3/4/20	3/3/21	3/8/22	3/8/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 S1	2021 Q4	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	3,173	3,027	1,914	1,527	1,790	3,317	1,891	2,335	1,963	2,146	4,109	2,104	2,447	1,886	2,199	1,773	2,484	-	-
EBITDA ¹	-	-	232.8	163.4	198.8	-	194.9	268.4	200.4	-	-	-	-	194	216.3	140.5	-	-	-
EBIT ¹	-	-	164.3	106.3	135.2	-	-	195	146	174.1	-	164.2	212.5	139.9	163.8	88	-	-	-
Operating Margin	-	-	8.58%	6.96%	7.55%	-	-	8.35%	7.44%	8.11%	-	7.8%	8.68%	7.42%	7.45%	4.96%	-	-	-
Earnings before Tax (EBT) ¹	119	185.9	149.7	95.6	127.5	-	134	183.8	137.7	164	301.7	169.2	217.3	139.7	176.5	167.5	226.9	-	-
Net income ¹	84.85	136.7	112.6	71.5	95.7	-	100.8	141.6	104.5	122.3	221.5	124.8	158.6	104.4	132.1	125.3	171.1	-	-
Net margin	2.67%	4.52%	5.88%	4.68%	5.35%	-	5.33%	6.06%	5.32%	5.7%	5.39%	5.93%	6.48%	5.53%	6.01%	7.07%	6.89%	-	-
EPS ²	-	1.370	1.140	0.7200	0.9700	-	1.010	1.440	1.050	1.230	2.280	1.250	1.620	1.050	1.255	0.9474	1.645	-	-
Dividend per Share ²	-	-	1.650	-	-	-	-	2.100	-	-	-	-	2.500	-	-	-	2.700	-	-
Announcement Date	7/31/20	7/30/21	3/8/22	4/29/22	7/29/22	7/29/22	11/4/22	3/8/23	4/27/23	7/27/23	7/27/23	11/2/23	2/29/24	4/25/24	-	-	-	-	-

¹EUR in Million²EUR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	115	-	-	-	-	-	-	-
Net Cash position ¹	-	111	390	743	450	721	1,041	1,213
Leverage (Debt/EBITDA)	0.2134 x	-	-	-	-	-	-	-
Free Cash Flow ¹	700	374	419	526	149	447	558	598
ROE (net income / shareholders' equity)	10.1%	16.8%	23%	24%	25.3%	22.4%	21.1%	20.8%
ROA (Net income/ Total Assets)	2.09%	2.9%	4.42%	5.07%	6.04%	6.16%	6.53%	6.76%
Assets ¹	6,129	7,146	7,365	8,082	8,450	8,289	8,303	8,925
Book Value Per Share ²	12.10	12.70	15.90	18.70	22.00	24.40	27.10	30.00
Cash Flow per Share ²	8.180	4.640	5.320	7.170	3.790	5.650	7.170	8.020
Capex ¹	122	87.9	110	155	171	166	177	184
Capex / Sales	1.83%	1.31%	1.71%	2.05%	1.97%	1.93%	1.99%	1.94%
Announcement Date	3/4/20	3/3/21	3/8/22	3/8/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Andritz AG

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

54 EUR

Average target price

73.34 EUR

Spread / Average Target

+35.81%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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