Results for the first three quarters of 2010 November 8, 2010

Transcription

1 Results for the first three quarters of November 8,

2 ANDRITZ GROUP /Q1 results at a glance Favorable business development in Order intake: 932 in : +11 vs. 3,236 in Q1 : +27 vs. Q1 Order backlog: 5,478 as of September 30, : 21 vs. September 30, ; +24 vs. December 31, Sales: 897 in : +19 vs. 2,459 in Q1 : +6 vs. Q1 EBITA: 67 EBITA in : +47 vs. 7.5 EBITA margin in (6.0 in ) 165 EBITA in Q1 : +62 vs. Q1 6.7 EBITA margin in Q1 (4.4 in Q1 ; 5.4 excluding restructuring expenses) Net income (excluding noncontrolling interests): 47 in : +75 vs. 115 in Q1 : +92 vs. Q1 2 Results for the first three quarters of November 8,

3 Sales: strong increase in HYDRO, PULP & PAPER, and ENVIRONMENT & PROCESS as main growth drivers 2, , , / Q1 vs. Q1 : : : HYDRO: +10 Q2: Q2: PULP & PAPER: +14 Q1: Q1: Q1 Q1 Group sales () Q1 METALS: 30 ENVIRONMENT & PROCESS: +8 FEED & BIOFUEL: +21 3,197.5 Q1 2, of sales 3 Results for the first three quarters of November 8,

4 Order intake Solid development in all business areas except METALS 3, , ,554.9 : : / Q1 vs. Q1 : HYDRO: +12 Q2: Q2: 1,395.3 PULP & PAPER: +78 Q1: Q1: Q1 Q1 Group order intake () Q1 METALS: 25 ENVIRONMENT & PROCESS: +34 FEED & BIOFUEL: +41 3,349.3 Q1 3, of order intake 4 Results for the first three quarters of November 8,

5 Order intake Q Favorable development during the economic crisis 1,395 1, Q Q Q Q1 Q2 Q4 Q1 Q2 Average order intake Q : 935 Group order intake () 5 Results for the first three quarters of November 8,

6 Order intake and sales by region Well balanced geographical exposure Order intake by region Q1 (Q1 ) in Sales by region Q1 (Q1 ) in 6 Results for the first three quarters of November 8,

7 Order backlog Solid workload in all business areas vs : +21 5,478 4,277 4,515 4,435 +/ vs : HYDRO: +18 3,843 3,397 1, PULP & PAPER: METALS: 20 ENVIRONMENT & PROCESS: +59 FEED & BIOFUEL: +76 Group order backlog as of end of period () 7 Results for the first three quarters of November 8,

8 Earnings EBITA and EBITA margin significantly increased EBITA of the Group in, at 67, 47 higher than in (46 ); thus, increasing significantly stronger than sales. EBITA margin in rose to 7.5 ( : 6.0). In Q1, EBITA significantly increased to 165 (Q1 : 102 ; 126 excluding restructuring expenses). EBITA margin rose to 6.7 (Q1 : 4.4; 5.4 excluding restructuring expenses). EBITA () EBITA margin : : 45.5 Q2: Q2: 54.2 Q1: /0 Q1: 43.7 Q1 Q1 Q1 Q1 8 Results for the first three quarters of November 8,

9 Results Q1 Continued strong cash flow generation Unit Q1 Q1 +/ +/ Order intake 3, , ,349.3 Order backlog (as of end of period) 5, , , , ,434.5 Sales 2, , ,197.5 EBITDA EBITA EBIT EBT Financial result Net income (incl. noncontrolling interests) Cash flow from operating activities Capital expenditure EBITDA margin EBITA margin EBIT margin Employees (as of end of period) 14,267 13, ,267 13, ,049 9 Results for the first three quarters of November 8,

10 Solid balance sheet structure as of September 30, Substantial increase of cash position, unchanged high negative net working capital Total assets and equity: Total assets increased to 3,768 (December 31, : 3,309 ). Equity ratio amounted to 19.4 (December 31, : 20.0). Cash position and working capital: Liquid funds amounted to 1,421 (December 31, : 1,082 ). Net liquidity increased to 1,002 (December 31, : 678 ). Low net working capital of 417 (104 as of December 31, ). Net liquidity as of end of period () 1, Results for the first three quarters of November 8,

11 HYDRO Continuation of favorable development Market: project activity for hydropower equipment remained high; favorable demand for modernizations and upgrades of installed capacities in Europe and North America, as well as for pumped storage power stations in Europe; good project activity for new hydropower capacities, especially in South America and Asia; positive development of project activity for smallscale hydropower plants, especially in Turkey. Favorable development of order intake in. Sales and earnings also up; profitability slightly down compared to the high level of however, reaching a solid level. Unit Q1 Q1 +/ +/ Order intake 1, , ,693.9 Order backlog (as of end of period) 3, , , , ,894.5 Sales 1, ,378.0 EBITDA EBITDA margin EBITA EBITA margin Employees (as of end of period) 6,147 5, ,147 5, , Results for the first three quarters of November 8,

12 PULP & PAPER Project activity showed further signs of recovery Market: good project activity for pulp and paper equipment worldwide especially for modernizations and capacity increases in Europe and North America due to continuing solid pulp demand, low inventory levels, and relatively full order books in the paper industry; planning activity for new pulp mill projects continued. Solid development of order intake in. Significant increase of sales, earnings, and profitability. Unit Q1 Q1 +/ +/ Order intake 1, Order backlog (as of end of period) 1, , Sales EBITDA EBITDA margin EBITA EBITA margin Employees (as of end of period) 4,849 4, ,849 4, , Results for the first three quarters of November 8,

13 METALS Low project activity; solid profitability Market: in spite of relatively good global capacity utilization of steel plants, very moderate project activity continued due to persistent uncertainty regarding the economic development in the next few quarters and the slight drop in steel prices influenced by overcapacities in certain segments; only few orders, especially from Asia, with focus on stainless steel market. Order intake in significantly below the high figure of. Sales down; however, profitability remained at a solid level. Unit Q1 Q1 +/ +/ Order intake Order backlog (as of end of period) Sales EBITDA EBITDA margin EBITA EBITA margin Employees (as of end of period) Results for the first three quarters of November 8,

14 ENVIRONMENT & PROCESS Order intake, sales, earnings, and profitability significantly up Market: satisfactory project activity for sludge dewatering, especially in Europe and Asia; considerable project activity for industrial process applications (especially in the mining and petrochemical industries), with the most active regions in China, India, Russia, and the Middle East; while project activity for sludge drying plants in the municipal sector remained moderate, project activity for industrial drying plants was satisfactory. Order intake in significantly higher than in, due to both strong organic growth and firsttime consolidation of acquired companies (KMPT, Delkor). Sales, earnings, and profitability developed very favorably. Unit Q1 Q1 +/ +/ Order intake Order backlog (as of end of period) Sales EBITDA EBITDA margin EBITA EBITA margin Employees (as of end of period) 1,777 1, ,777 1, , Results for the first three quarters of November 8,

15 FEED & BIOFUEL Very good development of wood pelleting and feed sectors Market: favorable project activity in the animal feed sector, mainly in South America, Asia, and Eastern Europe; continuation of good project activity for biomass/wood pelleting equipment in Europe and North America and to an increasing extent in Asia and South America. Order intake in significantly up compared to. Very good development of sales, earnings, and profitability. Unit Q1 Q1 +/ +/ Order intake Order backlog (as of end of period) Sales EBITDA n. a. 2.8 EBITDA margin EBITA EBITA margin Employees (as of end of period) Results for the first three quarters of November 8,

16 Outlook Sales expected to slightly increase vs. Expectations for the business areas: HYDRO: continuing positive project activity for both modernizations/upgrades and new hydropower plants. PULP & PAPER: acceptable project activity for greenfield pulp and paper mills. METALS: moderate project activity expected to continue with only selective projects for special endmarket products in emerging markets (automotive and household applications industries). ENVIRONMENT & PROCESS: continuation of favorable project activity for mechanical and thermal solid/liquid separation. FEED & BIOFUEL: satisfactory project activity for both feed and biomass pelleting equipment. Expectations for the ANDRITZ GROUP: Sales slightly up compared to. Earnings positively impacted by restructuring measures implemented in 2008/. 16 Results for the first three quarters of November 8,

17 Disclaimer Certain statements contained in this presentation constitute forwardlooking statements. These statements, which contain the words believe, intend, expect and words of similar meaning, reflect management 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 forwardlooking statements. The Company disclaims any obligation to publicly announce the result of any revisions to the forwardlooking statements made herein, except where it would be required to do so under applicable law. According to IFRS. 17 Results for the first three quarters of November 8,