ANDRITZ reports record results for 2023

In 2023, international technology group ANDRITZ again achieved the best results in its history. Revenue increased to 8.7 billion EUR (up 15% from 2022), net income rose to 504 MEUR (+25%), and the operating result (EBITA) reached 742 MEUR (+14%). The comparable EBITA margin increased from 8.5% to 8.7%. Subject to the approval by the Annual General Meeting, shareholders will benefit from this excellent performance through a dividend increase to 2.50 EUR (2022: 2.10 EUR) per share.

Order intake in the fourth quarter increased by 12% from the previous year’s reference quarter. Order intake for the full year decreased by 8% to 8,552 MEUR due to reduced capital investments by Pulp & Paper customers. All other business areas were able to increase their order intakes.

The Hydro business area achieved a substantial increase in order intake as a result of the favorable market development for new hydropower plants, modernizations and pumped storage projects.

In 2023, ANDRITZ not only won its first large-scale order for a green hydrogen plant but also the first order for a large, fully automated cell formation plant to produce battery cells for e-mobility. In the fourth quarter of 2023, ANDRITZ received orders for major pumped storage projects in Austria and Greece.

“Providing economically viable solutions that support industries in their decarbonization effort is an integral part of our company strategy. We are very pleased that these solutions play an increasingly important role in our growth,” said Joachim Schönbeck, President & CEO of ANDRITZ AG. “The increase in order intake in the fourth quarter of 2023 and the book-to-bill ratio, which reached almost 1 for the full year, show ANDRITZ’s resilience in a difficult economic and geopolitical environment.”

The results of the business year 2023 in more detail:

• Order intake for 2023, at 8,551.9 MEUR, was somewhat lower than in the previous year (-7.7% compared to 2022: 9,263.4 MEUR). The Hydro, Metals and Separation business areas were able to increase their order intakes and thus partly compensate for the decline in the Pulp & Paper business area, which was impacted by a global market weakness regarding new capacities.
• Revenue developed very favorably in 2023, reaching a new record level of 8,660.0 MEUR (+14.8% compared to 2022: 7,542.9 MEUR). All four business areas achieved considerable increases in revenue.
• Order backlog as of the end of 2023 amounted to 9,872.6 MEUR, remaining basically at the same high level as in the previous year (-1.0% compared to 2022: 9,976.5 MEUR).
• The operating result (EBITA) increased in line with revenue and reached 741.9 MEUR, also a record level (+14.4% compared to 2022: 648.5 MEUR). Profitability (EBITA margin) remained at 8.6% (2022: 8.6%). The comparable EBITA margin increased from 8.5% in 2022 to 8.7% in 2023.
• The net income (including non-controlling interests) increased significantly compared to the previous year, amounting to 504.3 MEUR (+25.3% compared to 2022: 402.6 MEUR).

ANDRITZ expects for the business year 2024 a slight increase of revenue and earnings.