Slide 1: Results Full Year 2021
ANDRITZ GROUP RESULTS FULL YEAR 2021 MARCH 8, 2022
Slide 2: Agenda
AGENDA 1 F Y 2 0 2 1 AT A G L AN C E 2 / ANDRITZ / RESULTS OF THE ANDRITZ GROUP FOR 2021 / MARCH 8, 2022 / © ANDRITZ GROUP
Slide 3: Full Year 2021 at a Glance
FULL YEAR 2021 AT A GLANCE Order intake, order backlog, net income, and profitability reach record highs GROUP REVENUE AT 6 . 5 B I L L I O N E U R O S RECORD GROUP ORDER E B I TA AT 5 4 7 M E U R S L I G H T LY B E L O W I N TAK E AT AL M O S T 7 . 9 B N AN D M AR G I N AT 8 . 5 % RECORD FIGURE 202
Slide 4: Agenda
AGENDA 2 P E R F O R M AN C E 2 0 2 1 4 / ANDRITZ / RESULTS OF THE ANDRITZ GROUP FOR 2021 / MARCH 8, 2022 / © ANDRITZ GROUP
Slide 5: Record Order Intake
RECORD ORDER INTAKE All four business areas achieve increases ORDER INTAKE* ORDER INTAKE BY BUSINESS AREA* ORDER INTAKE BY REGION 2021 VS. 2020 (%) +29% 2021 2020 +/- Pulp & Paper 3,775 2,961 +27% F 7,880 E Europe / Metals 1,779 1,144 +56% Emerging A North America markets Hydro 1,565 1,335 +17% D 54
Slide 6: Quarterly Development of Order Intake
QUARTERLY DEVELOPMENT OF ORDER INTAKE ORDER INTAKE SPLIT: CAPITAL / SERVICE Service accounts for roughly 35% of total order intake 2021 VS. 2020 (%) 7,880 10,000 4,000 7,707 Average Capital 65% Service 35% 3,500 Q3 & Q4 2021: 9,000 (61%) (39%) 2,144 8,000 3,000 2,827 7,000 2,500 6,000 MEUR 2,047 2,0
Slide 7: Revenue Only Slightly Down Compared to Record Figure 2020
REVENUE ONLY SLIGHTLY DOWN COMPARED TO RECORD FIGURE 2020 Hydro and Separation almost compensating decline in Pulp & Paper and Metals REVENUE* REVENUE BY BUSINESS AREA* REVENUE SPLIT: CAPITAL / SERVICE 2021 VS. 2020 (%) 2021 2020 +/- -4% Pulp & Paper 3,071 3,339 -8% Service Metals 1,366 1,421 -4% 40
Slide 8: Service Business by Business Area
SERVICE BUSINESS BY BUSINESS AREA % of total business area revenue PULP & PAPER METALS % MEUR % MEUR 100 1500 100 500 42 48 51 41 45 1000 50 50 27 250 500 24 23 24 25 0 0 0 0 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Share in % Service revenue Share in % Service revenue % HYDRO % SEPARATION
Slide 9: Order Backlog Reaches Record High
ORDER BACKLOG REACHES RECORD HIGH Solid workload for 2022 Pulp & Paper and Hydro account for 75% of total order backlog ORDER BACKLOG BY BUSINESS AREA AS OF END OF DECEMBER 2021 (DECEMBER 2020) IN MEUR +21% IN MEUR D 8,121 8,166 7,724 7,778 7,925 7,261 7,397 7,330 7,404 7,342 A 6,974 6,849 6,651 6,8
Slide 10: Record Earnings and Profitability
RECORD EARNINGS AND PROFITABILITY All four business areas achieve increases in EBITA and EBITA margin EBITA AND EBITA MARGIN* (REPORTED) EBITA AND EBITA MARGIN* (ADJUSTED) Despite decline in revenue, EBITA +40% +17% and margin in 2021 significantly up y/y Profitability reaches a new record 546.5 549
Slide 11: Profitability by Business Area
PROFITABILITY BY BUSINESS AREA EBITA margin (in %) PULP & PAPER METALS HYDRO SEPARATION 11.6** 9.9 9.9** 9.5 9.8** * 9.4** 9.8 11.3 7.9** 8.1** 7.8 7.4** 9.7 * 7.0** 6.6** 6.0 9.4 * 8.3 * * 4.6 4.8 1.9** 7.5 * * 7.2 7.1 2.8 * 5.8 * 2.5** * 4.8 * 0.5** 1.7 * -0.8** 2017 2018 2019 2020 2021 2017 2018
Slide 12: EBITDA – Net Income Bridge
EBITDA – NET INCOME BRIDGE IN MEUR 718.3 (571.1)* COMPACT HYDRO TAX RATE: ~26.8% 546.5 -171.8 (391.7*) 479.6 (-179.4*) 439.6 -62.1 -4.8 (315.0*) (-72.0*) (-4.7*) -40.0 (280.9*) (34.1*) 321.7 -117.9 (203.7*) (-77.1*) EBITDA Depreciation EBITA IFRS 3 Impairment EBIT Financial EBT Income taxes Net inco
Slide 13: Solid Equity Ratio Above 20% Reached
SOLID EQUITY RATIO ABOVE 20% REACHED TOTAL SHAREHOLDERS‘ EQUITY (IN MEUR) EQUITY RATIO (IN %) 1,567 21.7 20.4 21.0 21.2 19.2 17.8 16.7 17.3 16.9 1,344 1,325 1,331 1,256 1,216 1,220 1,038 5.6* 6.0 5.8 6.2 6.3 6.9 7.2 7.1 7.7 929 2013 2014 2015 2016 2017 2018 2019 2020 2021 GOODWILL ADJUSTED EQUITY RA
Slide 14: Cash Flow from Operating Activities and Free Cash Flow
CASH FLOW FROM OPERATING ACTIVITIES AND FREE CASH FLOW IN MEUR 238.7 16.0 17.9 12.2 671.2 1.2 (256.0)* (15.3)* -40.0 (19.8)* (657.1)* (-79.0)* -36.3 (1.6)* (-40.3)* 529.6 (71.3)* 20.7 -140.4 (461.5)* 117.9 (-93.2)* (77.1)* (29.1)* 369.5 (-79.0)* 321.7 Change in NWC: -160.1 (329.7)* ~257 MEUR increas
Slide 15: Solid Financial Position
SOLID FINANCIAL POSITION Gross liquidity of ~1.8 billion euros, net liquidity at ~700 million euros Note: Since January 1, 2019, lease liabilities are excluded from the calculation of net liqudity; 2018 adjusted IN MEUR Acquisition Schuler: Strong rise of net liquidity of 600 MEUR 2,350 Acquisition
Slide 16: Key Figures FY 2021 at a Glance
KEY FIGURES FY 2021 AT A GLANCE UNIT 2021 2020 +/- Order intake MEUR 7,879.7 6,108.0 +29.0% Increase in cash flow mainly Order backlog (as of end of period) MEUR 8,165.8 6,774.0 +20.5% due to improved Gross cash Revenue MEUR 6,463.0 6,699.6 -3.5% flow and change in net working EBITA MEUR 546.5 391.7
Slide 17: Proposed Dividend of 1.65 EUR/Share
PROPOSED DIVIDEND OF 1.65 EUR/SHARE 2021 payout ratio: ~50% - in line with dividend policy DIVIDEND PER SHARE (EUR) 1.65 * 1.50 1.55 1.55 1.35 1.20 1.10 1.00 1.00 0.85 0.50 0.55 0.50 0.50 0.50 0.38 0.18 0.25 0.11 0.13 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 20
Slide 18: Agenda
AGENDA 3 U P D AT E O F B U S I N E S S AR E AS 18 / ANDRITZ / RESULTS OF THE ANDRITZ GROUP FOR 2021 / MARCH 8, 2022 / © ANDRITZ GROUP
Slide 19: Pulp & Paper: Earnings and Profitability Up Despite Decline in Revenue
PULP & PAPER: EARNINGS AND PROFITABILITY UP DESPITE DECLINE IN REVENUE Order intake reached new record high UNIT 2021 2020 +/- ORDER INTAKE BY REGION Order intake MEUR 3,774.7 2,961.1 +27.5% 2021 VS. 2020 (%) Order backlog (as of end of period) MEUR 3,377.2 2,591.0 +30.3% Revenue MEUR 3,070.6 3,339.
Slide 20: Metals: Good Progress in Reaching Sustained Turnaround
METALS: GOOD PROGRESS IN REACHING SUSTAINED TURNAROUND Strong increase in order intake UNIT 2021 2020 +/- ORDER INTAKE BY REGION Order intake MEUR 1,778.8 1,143.6 +55.5% 2021 VS. 2020 (%) Order backlog (as of end of period) MEUR 1,541.7 1,181.6 +30.5% Revenue MEUR 1,366.1 1,420.5 -3.8% Emerging Euro
Slide 21: Hydro: Good Business Development
HYDRO: GOOD BUSINESS DEVELOPMENT Receipt of important orders in Mexico and Australia UNIT 2021 2020 +/- ORDER INTAKE BY REGION Order intake MEUR 1,565.2 1,335.4 +17.2% 2021 VS. 2020 (%) Order backlog (as of end of period) MEUR 2,747.8 2,587.9 +6.2% Revenue MEUR 1,345.1 1,296.0 +3.8% Emerging Europe
Slide 22: Separation: Very Favorable Business Development
SEPARATION: VERY FAVORABLE BUSINESS DEVELOPMENT Increase in order intake, revenue, and earnings y/y UNIT 2021 2020 +/- ORDER INTAKE BY REGION Order intake MEUR 761.0 667.9 +13.9% 2021 VS. 2020 (%) Order backlog (as of end of period) MEUR 499.1 413.5 +20.7% Revenue MEUR 681.2 644.1 +5.8% Emerging Eur
Slide 23: Agenda
AGENDA 4 OUTLOOK 23 / ANDRITZ / RESULTS OF THE ANDRITZ GROUP FOR 2021 / MARCH 8, 2022 / © ANDRITZ GROUP
Slide 24: Market Outlook and Financial Guidance
MARKET OUTLOOK AND FINANCIAL GUIDANCE Continued good market expectations for all four business areas MARKET OUTLOOK • Project and investment activity in all business areas is expected to continue at good levels • Potential impact from further escalation of trade barriers difficult to assess FINANCIA