Friday, November 1, 2024
International technology group ANDRITZ achieved solid business progress in Q3 2024, even amid ongoing economic challenges. Order intake rose compared to Q3 2023, with profitability (EBITA margin) holding steady, although revenue saw a slight decrease. This growth in orders was fueled by multiple mid-sized projects within the Hydropower and Metals sectors.
“In view of the continued challenging economic environment, we are satisfied with the order intake in the third quarter and pleased that we were able to maintain our profitability at last year’s level despite the decline in revenue.” – Joachim Schönbeck, ANDRITZ CEO .
E-mobility, hydropower upgrades, and engineering studies
The order intake in Q3 included an annealing and coating line and a cold rolling mill to produce non-grain oriented electrical steel (NOES), supporting the automotive industry’s electrification journey toward more sustainable transportation. In the Hydropower business area, several plant upgrades, including the major rehabilitation of the Chenderoh plant in Malaysia, contributed to the third-quarter order intake.
In addition, customers entrusted ANDRITZ with engineering studies for innovative solutions, enabling the green transition in various industries. ANDRITZ was selected to perform the front-end engineering design (FEED) for a carbon capture plant for the Finnish company Westenergy. E.ON Hydrogen ordered an engineering study for an electrolyzer plant to produce green hydrogen in Germany.
Due to the continuing market weakness, ANDRITZ has initiated capacity adjustments across industries and regions. The situation is particularly challenging in the automotive sector, where structural changes are affecting ANDRITZ’s subsidiary Schuler in Germany.
Revenue guidance slightly adjusted
Despite an increase in project activity across various markets, ANDRITZ anticipates a gradual rather than rapid market recovery. Given the persistently challenging conditions and financial performance in the first three quarters of 2024, ANDRITZ has revised its 2024 outlook, now expecting slightly lower revenue while maintaining stable profitability (EBITA margin).
International technology group ANDRITZ offers a broad portfolio of innovative plants, equipment, systems, services and digital solutions for a wide range of industries and end markets. Sustainability is an integral part of the company’s business strategy and corporate culture. With its extensive portfolio of sustainable products and solutions, ANDRITZ aims to make the greatest possible contribution to a sustainable future and help its customers achieve their sustainability goals.
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