Andritz Ag · VIE:ANDR
Andritz — FY2015 Earnings Presentation
16 slides from Andritz's earnings presentation, Mar 4, 2016
Slide 1: ANDRITZ GROUP: results for 2015
ANDRITZ GROUP: results for 2015 March 4, 2016
Slide 2: Strong increase in Group sales, mainly driven by PULP & PAPER and METALS
Strong increase in Group sales, mainly driven by PULP & PAPER and METALS SALES 2015 vs. 2014 (MEUR) SALES by business area (MEUR) 2015 2014 +/- +9% HYDRO 1,835 1,752 +5% PULP & PAPER 2,196 1,969 +12% 6,377 METALS 1,718 1,551 +11% 5,859 SEPARATION 628 587 +7% SALES by region (%) 2015 2014 Well-balanc
Slide 3: Group order intake almost reached record level of 2014
Group order intake almost reached record level of 2014 PULP & PAPER offsets decline in METALS ORDER INTAKE 2015 vs. 2014 (MEUR) ORDER INTAKE by business area (MEUR) 2015 2014 +/- -1% HYDRO 1,719 1,817 -5% PULP & PAPER 2,264 1,996 +13% 6,101 6,018 METALS 1,439 1,693 -15% SEPARATION 597 596 +/-0% ORDE
Slide 4: Group order backlog at good level
Group order backlog at good level Decline in METALS due to Schuler Order backlog (as of end of period in MEUR) -3% 2010: 2011: 2012: 2013: 2014: 2015: 5,291 6,683 6,615 7,389 7,511 7,324 Order backlog by business area (as of end of period in MEUR) HYDRO and PULP & PAPER account for 77% of total back
Slide 5: Earnings and profitability up despite extraordinary expenditure for Schuler restructuring
Earnings and profitability up despite extraordinary expenditure for Schuler restructuring EBITA 2015 vs. 2014 (MEUR) 2015: EBITA, at 429.0 MEUR, up by 13% versus 2014 (379.5 MEUR); EBITA margin at 6.7% (2014: 6.5%) +13% 429.0 Restructuring expenses of ~78 MEUR (optimization of value chain at Sch
Slide 6: Key figures 2015 at a glance
Key figures 2015 at a glance Unit 2015 2014* +/- Order intake MEUR 6,017.7 6,101.0 -1.4% Order backlog (as of end of period) MEUR 7,324.2 7,510.6 -2.5% Sales MEUR 6,377.2 5,859.3 +8.8% EBITDA MEUR 534.7 472.0 +13.3% EBITA MEUR 429.0 379.5 +13.0% EBIT MEUR 369.1 295.7 +24.8% EBT MEUR 376.4 299.4 +25.
Slide 7: Proposed dividend of 1.35 EUR/share
Proposed dividend of 1.35 EUR/share Payout ratio, at ~52%, in line with dividend policy DIVIDEND per share (EUR) 1.35* 1.20 1.10 1.00 0.85 0.50 0.55 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 2015 * Proposal to AGM Confirmation of dividen
Slide 8: HYDRO (1) Continued moderate project and investment activity
HYDRO (1) Continued moderate project and investment activity Modernizations/rehabilitations New hydropower plants Many projects postponed until further Some new planned projects notice due to unchanged low expected to be awarded only electricity and energy prices in the medium term Small-scale Compe
Slide 9: HYDRO (2) Satisfactory business development
HYDRO (2) Satisfactory business development HYDRO Unit 2015 2014 +/- Satisfactory order intake in view of unchanged difficult Order intake MEUR 1,718.7 1,816.7 -5.4% market environment Order backlog (as of end of period) MEUR 3,640.9 3,708.6 -1.8% Sales in 2015 favorably up Sales MEUR 1,834.8 1,752.
Slide 10: PULP & PAPER (1) Good project and investment activity
PULP & PAPER (1) Good project and investment activity Modernization and greenfield Good project and investment activity Biomass/power boilers both for modernization/refurbishment Unchanged subdued projects and greenfield pulp mills investment activity, especially for power boilers Competition Unchan
Slide 11: PULP & PAPER (2) Very favorable business development
PULP & PAPER (2) Very favorable business development PULP & PAPER Unit 2015 2014 +/- Order intake significantly up due to receipt of some larger orders (SCA Order intake MEUR 2,263.9 1,995.7 +13.4% Östrand, Metsä Fibre, Fibria) Order backlog (as of end of period) MEUR 1,998.6 1,875.4 +6.6% Favorable
Slide 12: METALS (1): continued low project and investment activity
METALS (1): continued low project and investment activity, especially in metalforming for the automotive industry Metalforming Aluminum Especially in China, many projects postponed due Project and investment to decline of automotive market; satisfactory activity below the investment activity in all
Slide 13: METALS (2): earnings and margins down due to restructuring expenditure at Schuler
METALS (2): earnings and margins down due to restructuring expenditure at Schuler METALS Unit 2015 2014 +/- Order intake significantly below the high level in 2014, mainly due to Order intake MEUR 1,438.6 1,692.8 -15.0% decline of automotive market (Schuler) Order backlog (as of end of period) MEUR
Slide 14: SEPARATION (1) Mixed market development
SEPARATION (1) Mixed market development Environment, food, and chemicals Feed and Satisfactory investment activity biomass pelleting Unchanged good project activity Mining and minerals Competition Low project activity Very fragmented market with global and regional competitors ▲ ANDRITZ SEPARATION l
Slide 15: SEPARATION (2) Still unsatisfactory financial development
SEPARATION (2) Still unsatisfactory financial development SEPARATION Unit 2015 2014 +/- Order intake in 2015 practically unchanged Order intake MEUR 596.5 595.8 +0.1% compared to last yearʼs reference period Order backlog (as of end of period) MEUR 352.2 360.5 -2.3% Sales favorably up Sales MEUR 628
Slide 16: Outlook for 2016
Outlook for 2016 Satisfactory business development expected Project activity for Good project activity for Low project and Low project activity in modernizations and new modernizations and investment activity both mining to remain; hydropower stations to capacity increases to in metalforming for sol