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  Corporate news transmitted by euro adhoc with the aim of a Europe-wide 
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Mid Year Results 
 
Graz - July 30, 2021. International technology Group ANDRITZ saw favorable 
business development in the second quarter of 2021. At just under 1.9 billion 
euros, order intake was up compared to the good level of the previous quarter 
and much higher than the previous year's reference quarter, which was impacted 
by the Covid pandemic. In spite of lower revenue compared to the previous year, 
both the operating result (EBITA) and profitability (EBITA margin) increased 
significantly. 
 
Wolfgang Leitner, President and CEO of ANDRITZ AG: "We are very pleased with 
business development in the first half year. All four of our business areas saw 
good order intake development and secured important reference orders. In spite 
of the slightly lower revenue due to the lower order intake for the full year of 
2020, we have succeeded in achieving a significant rise in profitability. We are 
also cautiously optimistic regarding the remaining months of the current year 
and expect solid project and investment activity in all our business areas." 
 
The key financial figures developed as follows: 
 
* In the second quarter of 2021, order intake at 1,862.3 MEUR was significantly 
  higher than the very low level of the previous year's reference period, which 
  was severely impacted by the Covid pandemic (+57.3% versus Q2 2020: 1,183.8 
  MEUR). The Metals and Hydro business areas, in particular, were able to 
  increase their order intake compared to the previous year's reference period. 
  Order intake of the ANDRITZ GROUP in the first half of 2021 amounted to 
  3,591.8 MEUR and increased significantly compared to the previous year's 
  reference period (+18.3% versus H1 2020: 3,036.7 MEUR). 
 
* The order backlog as of June 30, 2021 amounted to 7,403.5 MEUR and increased 
  by 9.3% compared to the end of 2020 (6,774.0 MEUR). 
 
* Due to the lower order intake for the full year of 2020, revenue in the second 
  quarter of 2021 dropped to 1,533.8 MEUR, a decline of 7.8% compared to the 
  reference quarter of last year Q2 2020: 1,662.8 MEUR). This is largely 
  attributable to a decline in revenue in the Pulp & Paper Capital segment, 
  where the previous year's reference period was very high due to processing of 
  some larger orders that have now been largely completed and thus have low 
  revenue contribution. Revenue of the ANDRITZ GROUP in the first half of 2021 
  amounted to 3,027.0 MEUR and fell by 4.6% compared to the previous year's 
  reference period (first half of 2020: 3,173.0 MEUR). 
 
* The EBITA amounted to 126.8 MEUR in the second quarter of 2021, increasing 
  significantly compared to the previous year's reference period (Q2 2020: 104.2 
  MEUR) in spite of the lower revenue. Thus, profitability (EBITA margin) 
  increased to 8.3% (Q2 2020: 6.3%). All four business areas were able to 
  increase profitability - some of them substantially - compared to the previous 
  year's reference period as well as to the previous quarter. The EBITA of the 
  ANDRITZ GROUP amounted to 237.7 MEUR in the first half of 2021 and was 
  significantly higher than the level of the previous year's reference period 
  (+36.4% versus H1 2020: 174.3 MEUR). 
 
* The financial result in the second quarter of 2021 amounted to -5.8 MEUR and 
  improved compared to the previous year's reference period (Q2 2020: -8.9 
  MEUR). 
 
* As a result, net income (without non-controlling interests) increased in the 
  second quarter of 2021 to 74.6 MEUR (Q2 2020: 53.4 MEUR). In the first half of 
  2021, the net income (without non-controlling interests) amounted to 136.7 
  MEUR (H1 2020: 84.9 MEUR). 
 
 
OUTLOOK FOR 2021: SLIGHTLY LOWER REVENUE, INCREASED PROFITABILITY 
Economic experts expect the global economy to continue its recovery also in the 
remaining months of 2021. In this environment, the markets served by ANDRITZ 
should also continue to see positive development. 
 
On the basis of earnings development in the first half of 2021, ANDRITZ now 
expects - from today's perspective - a significant increase in the EBITA 
reported compared to the previous year and profitability (EBITA margin reported) 
of around 8% (EBITA margin reported in 2020: 5.8%) for the full year of 2021. 
From today's perspective, no major extraordinary items are expected for 2021. A 
slight decline is anticipated in revenue for the full year of 2021 compared to 
the previous year. 
 
If further recovery by the global economy, as expected by market researchers for 
2021, is delayed or the pandemic intensifies again, this may result in negative 
effects on the processing of orders and on order intake and hence have a 
negative impact on ANDRITZ's financial development. This could lead to capacity 
adjustments - financial provisions for additional adjustment measures in 
individual business areas - that could have a negative impact on the ANDRITZ 
GROUP's earnings. Similarly, further increases in the price of raw materials or 
bottlenecks in the global supply chains could have a negative effect on the 
Group's earnings development. 
 
KEY FINANCIAL FIGURES AT A GLANCE 
 
 
                     Unit H1 2021 H1 2020 +/-    Q2 2021 Q2 2020 +/-     2020 
Revenue              MEUR 3,027.0 3,173.0 -4.6%  1,533.8 1,662.8 -7.8%   6,699.6 
- Pulp & Paper       MEUR 1,464.6 1,595.6 -8.2%  753.7   882.3   -14.6%  3,339.0 
- Metals             MEUR 638.1   698.2   -8.6%  322.0   343.0   -6.1%   1,420.5 
- Hydro              MEUR 609.5   587.6   +3.7%  293.5   289.4   +1.4%   1,296.0 
- Separation         MEUR 314.8   291.6   +8.0%  164.6   148.1   +11.1%  644.1 
Order intake         MEUR 3,591.8 3,036.7 +18.3% 1,862.3 1,183.8 +57.3%  6,108.0 
- Pulp & Paper       MEUR 1,712.3 1,699.8 +0.7%  866.8   621.6   +39.4%  2,961.1 
- Metals             MEUR 843.6   488.1   +72.8% 414.5   126.6   +227.4% 1,143.6 
- Hydro              MEUR 654.5   492.4   +32.9% 370.2   246.9   +49.9%  1,335.4 
- Separation         MEUR 381.4   356.4   +7.0%  210.8   188.7   +11.7%  667.9 
Order backlog (as of MEUR 7,403.5 7,396.6 +0.1%  7,403.5 7,396.6 +0.1%   6,774.0 
end of period) 
EBITDA               MEUR 318.6   258.6   +23.2% 167.5   146.0   +14.7%  571.1 
EBITDA margin        %    10.5    8.2     -      10.9    8.8     -       8.5 
EBITA                MEUR 237.7   174.3   +36.4% 126.8   104.2   +21.7%  391.7 
EBITA margin         %    7.9     5.5     -      8.3     6.3     -       5.8 
Earnings Before 
Interest and Taxes   MEUR 204.1   137.4   +48.5% 107.7   83.6    +28.8%  315.0 
(EBIT) 
Financial result     MEUR -18.2   -18.4   +1.1%  -5.8    -8.9    +34.8%  -34.1 
Earnings Before      MEUR 185.9   119.0   +56.2% 101.9   74.7    +36.4%  280.9 
Taxes (EBT) 
Net income (without 
non-controlling      MEUR 136.7   84.9    +61.0% 74.6    53.4    +39.7%  207.1 
interests) 
Cash flow 
from operating       MEUR 153.0   100.0   +53.0% 83.8    43.1    +94.4%  461.5 
activities 
Capital expenditure  MEUR 60.1    59.9    +0.3%  28.2    30.0    -6.0%   131.8 
Employees (as of end 
of period; without   -    26,711  27,828  -4.0%  26,711  27,828  -4.0%   27,232 
apprentices) 
 
 
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. 
 
- End - 
 
PRESS RELEASE AVAILABLE FOR DOWNLOAD 
This press release is available for download at andritz.com/news. 
 
ANDRITZ GROUP 
International technology group ANDRITZ offers a broad portfolio of innovative 
plants, equipment, systems and services for the pulp and paper industry, the 
hydropower sector, the metals processing and forming industry, pumps, solid/ 
liquid separation in the municipal and industrial sectors, as well as animal 
feed and biomass pelleting. The global product and service portfolio is rounded 
off with plants for power generation, recycling, the production of nonwovens and 
panelboard, as well as automation and digital solutions offered under the brand 
name of Metris. The publicly listed group has around 26,700 employees and more 
than 280 locations in over 40 countries. 
 
ANNUAL AND FINANCIAL REPORTS 
Annual and Financial reports are available for download at the ANDRITZ web site 
andritz.com, and printed editions can be requested free of charge 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. 
 
 
 
 
 
 
Further inquiry note: 
Dr. Michael Buchbauer 
Head of Group Finance, Corporate Communications & Investor Relations 
Tel.: +43 316 6902 2979 
Fax: +43 316 6902 465 
mailto:michael.buchbauer@andritz.com 
 
end of announcement                         euro adhoc 
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(END) Dow Jones Newswires

July 30, 2021 01:30 ET (05:30 GMT)