International technology group ANDRITZ recorded robust order growth in the first quarter of 2025, with order intake rising by nearly 20% compared to the same period in 2024. This upward momentum, continuing from the strong performance in the latter half of 2024, was fueled by significant orders in the renewables and pulp industries. While order intake increased and profitability (comparable EBITA margin) remained stable at 8.2% (Q1 2024: 8.1%), revenue declined by 6%. Net income decreased by 14% compared to the first quarter of 2024.
Growth trend in renewables, major orders from USA and Asia
The increase in orders received in the first quarter was largely driven by the business areas Pulp & Paper (+51.7%) and Hydropower (+14.3%): In Pulp & Paper, the order intake in Q1 2025 included major pulp mill orders from the USA and Japan and another project award for a complete pulp mill from China.
In the Hydropower business area, the ongoing shift towards renewable energy continued to drive global demand for power plant upgrades and grid stability. Order intake in the Metals business area remained stable (-1.0%), while Environment & Energy saw a decline of 3.9% in comparison to the record-breaking first quarter of the previous year.
ANDRITZ CEO Joachim Schönbeck stated, “Considering the uncertain economic environment, we are overall satisfied with our business performance in the first quarter. The robust order intake underlines the trust our customers place in our technologies. We are happy that we could further increase the share of our service business to stabilise our revenue and profitability. So far, we have not seen any impact on our business from rising global tariffs, but we are observing this issue closely.”
Complementary acquisition
In February 2025, ANDRITZ acquired LDX Solutions, a leading provider of emission reduction technologies and related services in the North American industrial market, further strengthening the group’s offering of environmental technologies and its presence in the US market. LDX Solutions will be reported in the Environment & Energy business area.
Mixed development of revenue
The Group’s revenue reached 1,761 MEUR, a decrease of 6.6% compared to the first quarter of 2024. While revenue in Environment and Energy (+6.2%) and Hydropower (+23.3%) went up, the Pulp & Paper (-22.5%) and Metals (-6.3%) business areas saw a decline, reflecting the weak order intake in 2024.
The results of the first quarter of 2025 in more detail:
- Order intake amounted to 2,332 MEUR and was thus 19.6% above the level of the previous year’s reference period (Q1 2024: 1,950 MEUR). This was largely driven by orders in Pulp & Paper and Hydropower where the order intake reached 975 MEUR (+51.7%) and 569 MEUR (+14.3%) respectively. In Environment & Energy, order intake decreased by 3.9% compared to the high level of Q1 2024, where an increase of 30.5% was recorded. The order intake of Metals was almost at the same level as last year (-1.0%).
- The order backlog as of March 31, 2025, amounted to 10,170 MEUR and has thus increased by 4.3% compared to the end of 2024 (December 31, 2024: 9,750 MEUR).
- While revenue declined by 6.6% overall to 1,761 MEUR (Q1 2024: 1,886 MEUR), the Hydropower (+23.3%) and Environment & Energy (+6.2%) business areas were able to increase their revenues, driven by the processing of the high order backlog. Revenue in the Pulp & Paper (-22.5%) and Metals (-6.3%) business areas declined, reflecting the weak market environment during 2024.
- The comparable EBITA reached 145 MEUR in the first quarter of 2025 (-5.9% versus Q1 2024: 154 MEUR). The Group’s profitability (comparable EBITA margin) remained stable at 8.2% (Q1 2024: 8.1%).
- Net income (including non-controlling interests) decreased to 89 MEUR (Q1 2024: 104 MEUR) on the back of lower EBITA, a reduced financial result, and slightly higher amortization resulting from recent acquisitions.
- Operating cashflow went down to 73 MEUR compared to Q1 2024 (285 MEUR), mainly due to a project-related pick-up in working capital.
ANDRITZ reaffirms its guidance for 2025, projecting revenue in the range of EUR 8.0 to 8.3 billion. Supported by ongoing initiatives to enhance competitiveness and a favorable shift in the revenue mix driven by the expanding Service business, the company expects the comparable EBITA margin (excluding non-operating items) to reach between 8.6% and 9.0%.
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