ANDRITZ GROUP: results for the first quarter of 2015

International technology Group ANDRITZ recorded a solid business development in the first quarter of 2015. The key financial figures developed as follows:

– Sales amounted to 1,404.3 million euros (MEUR) and were thus significantly higher than the reference figure for the previous year (+15.2% versus Q1 2014: 1,219.5 MEUR). All business areas, particularly PULP & PAPER, recorded a significant increase in sales.
– The order intake, at 1,430.6 MEUR, reached a satisfactory level. However, it was 17.9% below the extraordinary high reference figure of the previous year, which had included large orders in the HYDRO and PULP & PAPER business areas (Q1 2014: 1,742.2 MEUR).
– The order backlog as of March 31, 2015 slightly increased to 7,785.6 MEUR (December 31, 2014: 7,510.6 MEUR).
– The EBITA amounted to 73.4 MEUR (Q1 2014: 48.6 MEUR). Earnings were thus 51.0% above the low reference figure of last year, but still failed to reach a satisfactory level, as did the EBITA margin at 5.2% (Q1 2014: 4.0%). This is mainly attributable to temporary exchange rate differences from negative market values from project-related currency hedges that will balance out by the time the orders are completed/paid. Excluding these market values, the EBITA margin of the Group would have amounted to 6.1%.
– Net income amounted to 44.0 MEUR (+112.6% versus Q1 2014: 20.7 MEUR).
On the basis of the current order backlog, ANDRITZ expects a slight increase in sales and net income in 2015 compared to the previous year.