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ANDRITZ witnesses increased result in third quarter

 Wednesday, November 8, 2023

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International technology group ANDRITZ achieved strong increases in revenue, earnings, and net income in the third quarter of 2023 compared to the previous year’s reference period. The group has thus continued the positive development of the previous quarters.

Total order intake declined from the previous year’s reference quarter, which included a large pulp mill order. However, order intake increased in the business areas Hydro, Metals, and Separation. The order intake for sustainable solutions and products was very satisfactory.

After entering the green hydrogen market with its first engineering order in the second quarter of 2023, ANDRITZ booked its first order for the supply of a complete green hydrogen plant in the third quarter. German steel producer Salzgitter Group selected ANDRITZ to supply one of the largest green hydrogen plants in Europe as part of its sustainable transformation program.

Joachim Schönbeck, President & CEO of ANDRITZ AG, stated: “Our products and solutions serving the green transition of the economy are increasingly contributing to our order intake. We are steadily expanding this product range, reaffirming our commitment to innovation and sustainability. The solid growth in our service revenues continued in the third quarter, helping us to further stabilize our business.”

For the full business year 2023, ANDRITZ confirms the financial guidance published with the results for the first half of 2023 and, from today’s perspective, expects a significant increase in revenue and earnings as well as stable profitability (EBITA margin).

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