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05. 03. 10. - 12:00

Andritz 2009 net profit down

Styrian industrial plant producer Andritz-AG reported today (Fri) that its net profit had fallen by 30.7 per cent year on year to 96.8 million Euros in 2009.

Analysts had expected a figure of 101 million Euros.

Pre-tax earnings declined by 28.9 per cent year on year to 149.6 million Euros, and turnover fell by 11.4 per cent year on year to 3.197 billion Euros.

Earnings before interest and taxes (Ebit) was down by a third year on year to 147.1 million Euros, and earnings before interest, taxes, depreciation and amortisation (Ebitda) dropped by 21.6 per cent year on year to 218.2 million Euros.

Orders worth 3.3 billion Euros during 2009 were a tenth lower than they had been in 2008, and orders on the books at the end of last year were worth 4.4 billion Euros.

Ebitda margin was 5.1 per cent at the end of 2009 compared to a figure of 6.5 per cent at the end of 2008.

The firm said management would recommend a reduction in the dividend from 1.10 Euros for 2008 to 1.00 Euro for 2009 at the upcoming shareholders’ general assembly. That would constitute 52.9 per cent of profit last year, compared to 40.3 per cent in 2008, when profit was higher.

Andritz had announced earlier this week that it would buy German machine builder KMPT AG based in Vierkirchen.

Andritz added that it would soon sign a contract for the acquisition of KMPT and its subsidiaries in England, France, Italy, China and the USA.

Andritz said the acquisition would strengthen its environment & process business division by increasing and improving its products.

The deal is expected to become final in the second quarter of this year after cartel authorities have approved it. The price has not been disclosed.

Andritz announced recently that it would buy French machine-building and technology firm Rieter Textile’s subsidiary Perfojet.

Andritz officials said the company had already signed a purchase agreement with Reiter and only needed the approval of cartel authorities for the deal to become final. Neither side has disclosed its price.

In another recent international deal, Andritz won a 100-million Euro contract in Chile. Andritz will deliver special technology for a plant run by Chilean cellulose firm CMPC.

Austrian Times

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