Slide 1: ANDRITZ GROUP: results for 2014
ANDRITZ GROUP: results for 2014 March 5, 2015
Slide 2: Financial highlights 2014
Financial highlights 2014 Order intake, sales, and order Earnings and margins substantially backlog reach record highs improved compared to very low levels of 2013 Order intake 6.1 bn. EUR Strong development of cash flow and net cash position Sales 5.9 bn. EUR Solid level of net working capital Orde
Slide 3: Group sales: slight increase due to Schuler
Group sales Slight increase due to Schuler GROUP SALES (MEUR) SALES by business area 2014 vs. 2013 (MEUR) * Schuler portion 2014 2013 +/- Project-related lower +3% sales generation in HYDRO 1,752 1,805 -3% (-1% ex Schuler) HYDRO and PULP & PULP & PAPER 1,969 2,005 -2% PAPER 5,859 5,711 METALS 1,551
Slide 4: Group order intake significantly increased
Group order intake significantly increased PULP & PAPER and METALS favorably up GROUP ORDER INTAKE (MEUR) ORDER INTAKE by business area 2014 vs. 2013 (MEUR) * Schuler portion 2014 2013 +/- +9% HYDRO 1,817 1,865 -3% (+3% ex Schuler) PULP & PAPER 1,996 1,908 +5% 6,101 METALS 1,693 1,234 +37% Also +37%
Slide 5: Order backlog at record high, mainly driven by METALS
Order backlog at record high, mainly driven by METALS GROUP ORDER BACKLOG ORDER BACKLOG by business area 2014 vs. 2013 (as of end of period; MEUR) (as of end of period in MEUR) * Schuler portion 2014 2013 +/- +2% HYDRO 3,709 3,722 +/-0% (+2% ex Schuler) PULP & PAPER 1,875 1,886 -1% 7,389 7,511 METAL
Slide 6: Strong increase in earnings and profitability compared to very low levels of 2013
Strong increase in earnings and profitability compared to very low levels of 2013 Increase of EBITA and EBITA margin driven by strong earnings improvements of PULP & PAPER, SEPARATION, and METALS; unchanged good profitability of HYDRO EBITA (MEUR) EBITA MARGIN (%) +131% 379.5 2014: 2013: 2.9% 6.5% 1
Slide 7: Key figures 2014 at a glance
Key figures 2014 at a glance Unit 2014 2013 +/- Order intake MEUR 6,101.0 5,611.0 +8.7% Order backlog (as of end of period) MEUR 7,510.6 7,388.5 +1.7% Sales MEUR 5,859.3 5,710.8 +2.6% EBITDA MEUR 472.0 255.2 +85.0% EBITA MEUR 379.5 164.1 +131.3% EBIT MEUR 295.7 89.8 +229.3% EBT MEUR 299.4 80.3 +272.
Slide 8: Proposed dividend of 1.00 euro/share
Proposed dividend of 1.00 euro/share Payout ratio at 49% DIVIDEND per share (EUR) 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 * Proposal to AGM Confirmation of dividend goals: Maintain payout ratio at a minimum
Slide 9: HYDRO (1)
HYDRO (1) Reasonable project activity, but far below peak level of 2011 MODERNIZATIONS/REHABILITATIONS Photo: Tidal Lagoon Swansea Bay plc. Solid project activity in Europe and North America, although below peak years NEW HYDROPOWER PLANTS Some projects in emerging markets in implementation or plann
Slide 10: HYDRO (2)
HYDRO (2) Satisfactory business development Unit 2014 2013 +/- Order intake in line with Order intake MEUR 1,816.7 1,865.4 -2.6% expectations Order backlog (as of end of period) MEUR 3,708.6 3,722.4 -0.4% Slight project-related Sales MEUR 1,752.3 1,804.8 -2.9% decline in sales EBITDA MEUR 177.2 176.
Slide 11: PULP & PAPER (1)
PULP & PAPER (1) Good investment and project activity MODERNIZATIONS/GREENFIELD Photo: Metsä Fibre Oy Good project and investment activity for modernizations/refurbishments and for new greenfield pulp mills BIOMASS/RECOVERY BOILERS Good investment activity TISSUE Solid demand, especially in China CO
Slide 12: PULP & PAPER (2)
PULP & PAPER (2) Strong improvement in earnings and profitability Unit 2014 2013 +/- Favorable order intake of almost 2 billion euros Order intake MEUR 1,995.7 1,907.7 +4.6% Order backlog (as of end of period) MEUR 1,875.4 1,885.6 -0.5% Slight project-related decline in sales Sales MEUR 1,969.3 2,00
Slide 13: METALS (1): good investment activity in metal forming and aluminum equipment
METALS (1): good investment activity in metal forming and for aluminum equipment METALFORMING Good project activity, especially in China; satisfactory level in Europe STAINLESS STEEL Unchanged low project activity, however some selective investments in emerging markets ALUMINUM Very good project act
Slide 14: METALS (2)
METALS (2) Favorable business development Unit 2014 2013 +/- Order intake favorably up due to the metal- forming (Schuler) and Order intake MEUR 1,692.8 1,233.8 +37.2% aluminum equipment Order backlog (as of end of period) MEUR 1,566.1 1,427.6 +9.7% Sales increase mainly Sales MEUR 1,550.4 1,311.0 +
Slide 15: SEPARATION (1)
SEPARATION (1) ENVIRONMENT AND FOOD Solid investment activity MINING AND MINERALS Unchanged low project activity CHEMICALS Solid project activity FEED AND BIOMASS PELLETING Good project activity For the waste water treatment plant, industrial effluent treatment plant, and food application segments,
Slide 16: SEPARATION (2)
SEPARATION (2) Order intake and sales stabilized, earnings improved Unit 2014 2013 +/- Order intake and sales practically unchanged Order intake MEUR 595.8 604.1 -1.4% compared to 2013 Order backlog (as of end of period) MEUR 360.5 352.9 +2.2% Sales MEUR 587.3 589.7 -0.4% EBITDA MEUR 33.2 13.3 +149.
Slide 17: Outlook for 2015
Outlook for 2015 Investment activity to remain at current satisfactory levels HYDRO Good project activity for modernizations and new hydropower stations to stable + continue; satisfactory market activity for pumps to continue PULP & PAPER Solid project activity for modernizations/capacity increases
Slide 18: Disclaimer
Disclaimer Certain statements contained in this presentation constitute ‛forward-looking statements.’ These statements, which contain the words ‛believe’, ‛intend’, ‛expect’ and words of similar meaning, reflect management’s beliefs and expectations and are subject to risks and uncertainties that ma