Andritz reports strong results
7 May 2024International technology group Andritz has seen a strong set of Q1 2024 results despite the difficult economic environment.
Andritz, whose refiners are used extensively in the MDF industry, reported operating profits (EBITA) of €152.4m in Q1 (-3.8% versus Q1 2023: €158.5m).
The company said the “satisfactory” business development was a slight decrease on a year ago, but profitability remained stable and net income increased slightly compared to the first quarter of 2023.
While total order intake declined from the high level of the previous year, orders for green technologies went up.
“Considering the increasingly difficult economic and geopolitical environment, we are satisfied with our business performance in the first quarter,” said Andritz CEO Joachim Scho¨nbeck.
“The growth trend in our green products and service business shows that we are on the right track.”
The Group’s revenue reached €1.88bn, a decrease of 4% compared to the first quarter of 2023. The EBITA margin remained at the level of Q1 2023 (8.1%), and net income increased by 1.6% compared to the first quarter of 2023.
Order intake reached €1.95bn, down 19% compared to Q1 2023. While order intake in the service business was good, the markets for capital goods were very weak across the industries served.
