#Nonwovens / Technical Textiles
ANDRITZ GROUP: favorable business development in 2011
International technology Group ANDRITZ showed very satisfactory business development in the 2011 business year, reaching record highs in order intake, sales, and earnings.
+ Sales amounted to 4,596.0 MEUR (+29.3% vs. 2010: 3,553.8 MEUR). This is mainly attributable to the PULP & PAPER business area, which increased its sales by 67.9% to 1,855.9 MEUR (2010:1,105.3 MEUR). The HYDRO, SEPARATION, and METALS business areas also noted a sales increase.
+ The order intake of the Group reached 5,706.9 MEUR (+38.1% vs. 2010: 4,131.9 MEUR). This wasmainly due to the receipt of three large orders in the PULP & PAPER and HYDRO business areas.
+ The order backlog as of end of 2011 amounted to 6,683.1 MEUR (+26.3% vs. December 31, 2010:5,290.9 MEUR).
+ The EBITA increased in line with sales by 28.7% to 331.5 MEUR (2010: 257.6 MEUR). Thus, the EBITAmargin, at 7.2%, was unchanged compared to 2010 (7.2%).
+ The net income of the Group (excluding non-controlling interests) amounted to 230.7 MEUR (2010:179.6 MEUR).
+ The balance sheet structure as of December 31, 2011 continued to be solid: The equity ratio was 20.6%(December 31, 2010: 19.7%). Gross cash (cash and cash equivalents plus marketable securities plusloans against borrowers’ notes) amounted to 1,814.5 MEUR (December 31, 2010: 1,594.7 MEUR); the net liquidity (gross cash plus fair value of interest rate swaps minus financial liabilities), at 1,400.6 MEUR,was also significantly higher compared to previous year’s reference figure (December 31, 2010:1,177.0 MEUR).
+ At the coming Annual General Meeting, the Executive Board will propose to increase the dividend to2.20 EUR per share (2010: 1.70 EUR), corresponding with a payout ratio of almost 50%.
Wolfgang Leitner, President and CEO of ANDRITZ AG, says about the expectations for the 2012 business year: “In spite of the uncertain general economic conditions, we currently see solid project activity overall in the markets we serve – apart from single major projects that are difficult to forecast.”
On the basis of these expectations and the high order backlog, the ANDRITZ GROUP expects an increase in sales and net income in 2012 compared to 2011.
