ANDRITZ GROUP: Solid business development in 2016

03.03.2017, 6614 Zeichen

Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
annual result
Graz, March 3, 2017. International technology group ANDRITZ saw solid business development in the past business year. In spite of a slight decline in sales to just over six billion euros, earnings and profitability reached the highest figures in the company's history. The Executive Board will propose an increased dividend payment of 1.50 EUR per share to the Annual General Meeting of Shareholders.
The results of the business year in detail:
Sales amounted to 6,039.0 MEUR and thus remained 5.3% below the all-time high of the previous year (2015: 6,377.2 MEUR). All four business areas noted a project-related decline in sales in the capital segment. Service business saw very positive development, rising to a share of 32% of total sales (2015: 30%) - with increases in all four business areas.\nOrder intake amounted to 5,568.8 MEUR and was thus below the figure for the previous year's reference period (-7.5% versus 2015: 6,017.7 MEUR). While the METALS business area was able to increase its order intake compared to the previous year, order intake in the HYDRO and PULP & PAPER business areas declined.\nThe order backlog at the end of 2016 amounted to 6,789.2 MEUR (-7.3% compared to the end of 2015: 7,324.2 MEUR).\nIn spite of the decline in sales, the EBITA increased to 442.1 MEUR (+3.1% versus 2015: 429.0 MEUR) and reached the highest figure in the company's history, as did the EBITA margin, which rose to 7.3% (2015: 6.7%).\nNet income (without non-controlling interests) increased to 274.6 MEUR (2015: 267.7 MEUR).\nThe net worth position and capital structure as of December 31, 2016 remained solid. Total assets amounted to 6,198.6 MEUR (December 31, 2015: 5,778.0 MEUR) and the equity ratio to 21.7% (December 31, 2015: 21.0%). Net liquidity amounted to 945.3 MEUR (December 31, 2015: 984.0 MEUR).\nAt the Annual General Meeting of Shareholders on March 28, 2017, the Executive Board will propose a significant dividend increase to 1.50 EUR per share (2015: 1.35 EUR) in view of the positive business development. This is equal to a payout ratio of around 56% (2015: around 52%).\nFor the 2017 business year, ANDRITZ assumes that project activity will remain unchanged compared to the previous year and expects, from today's perspective, good business development. Wolfgang Leitner, President and CEO of ANDRITZ AG: "All in all, we are confident for 2017 and expect to achieve at least the same levels of sales and profitability as in the previous year. Our central focus this year will be on creating the prerequisites to continue ANDRITZ's profitable growth in the long term, based on acquisition of complementary product areas and on internal growth".
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Key financial figures at a glance
(in MEUR) 2016 2015 +/- Q4 2016 Q4 2015 +/- Sales 6,039.0 6,377.2 -5.3% 1,799.7 1,788.1 +0.6% HYDRO 1,752.4 1,834.8 -4.5% 572.7 525.2 +9.0% PULP & PAPER 2,094.4 2,196.3 -4.6% 560.4 609.9 -8.1% METALS 1,598.4 1,718.1 -7.0% 488.1 478.3 +2.0% SEPARATION 593.8 628.0 -5.4% 178.5 174.7 +2.2%
Order intake 5,568.8 6,017.7 -7.5% 1,532.3 2,250.1 -31.9% HYDRO 1,500.3 1,718.7 -12.7% 439.4 596.7 -26.4% PULP & PAPER 1,919.5 2,263.9 -15.2% 568.5 1,008.2 -43.6% METALS 1,551.5 1,438.6 +7.8% 372.0 484.8 -23.3% SEPARATION 597.5 596.5 +0.2% 152.4 160.4 -5.0%
Order backlog (as of end of period) 6,789.2 7,324.2 -7.3% 6,789.2 7,324.2 -7.3%
EBITDA 542.4 534.7 +1.4% 178.9 170.6 +4.9% EBITDA margin 9.0% 8.4% - 9.9% 9.5% -
EBITA 442.1 429.0 +3.1% 150.0 134.0 +11.9% EBITA margin 7.3% 6.7% - 8.3% 7.5% -
EBIT 385.8 369.1 +4.5% 124.0 110.0 +12.7%
Financial result 12.6 7.3 +72.6% -3.1 3.3 -193.9%
EBT 398.4 376.4 +5.8% 120.9 113.3 +6.7%
Net income (without non- controlling interests) 274.6 267.7 +2.6% 80.4 86.4 -6.9%
Cash flow from operating activities 366.6 179.4 +104.3% 20.9 46.6 -55.2%
Capital expenditure 119.5 101.4 +17.9% 43.2 41.7 +3.6%
Employees (as of end of period; without apprentices) 25,162 24,508 +2.7% 25,162 24,508 +2.7%

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.
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 approximately 25,200 employees. ANDRITZ operates over 250 sites worldwide.
Annual and financial reports Annual and Financial reports are available for download at the ANDRITZ web site www.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.


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

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