Andritz Ag · VIE:ANDR
Andritz — H1 2014 Earnings Presentation
16 slides from Andritz's earnings presentation, Aug 7, 2014
Slide 1: Results of the first half of 2014
Results of the first half of 2014 August 7, 2014
Slide 2: Group sales in Q2/H1 2014 at solid level of last year
Group sales in Q2/H1 2014 at solid level of last year SALES (MEUR) SALES H1 2014 * Schuler portion by business area H1: +2% 2,659 2,610 (-5% ex 265* Schuler) 282* H1 2014 vs. H1 2013: 10% Q2: █ HYDRO: -5% Q2: Q2: +/-0% 1,440 30% 1,446 (ex Schuler: -2%) █ PULP & PAPER: -7% 27% 2,659 MEUR 109* 258* █
Slide 3: Order intake: stable development in Q2 2014, strong increase in H1 2014
Order intake: stable development in Q2 2014, strong increase in H1 2014 due to PULP & PAPER + METALS ORDER INTAKE (MEUR) ORDER INTAKE * Schuler portion H1 2014 by business area H1: +18% 2,980 (+11% ex 235* 2,526 Schuler) 235* Q2: H1 2014 vs. H1 2013: 11% Q2: +/-0% 1,238 █ HYDRO: -5% (ex Schuler: +/-
Slide 4: Order intake and sales by region
Order intake and sales by region Well-balanced geographical exposure ORDER INTAKE H1 2014 by region (H1 2013) Emerging markets and Oth e rs Eur o pe and North America South America: 19% (9%) >> << Europe: 37% (39%) 46% 2,980 54% China: 11% (13%) >> MEUR << North America: 17% (18%) Asia (without Chin
Slide 5: Order backlog
Order backlog Solid workload in all business areas ORDER BACKLOG* (MEUR) ORDER BACKLOG ** Schuler portion H1 2014 by business area H1: -1% (+/-0% ex Schuler) 7,644 7,556 7,389 6,683 6,615 1,096** 1,054** 1,040** H1 2014 vs. H1 2013: 5% █ HYDRO: -4% 20% █ PULP & PAPER: +7% 7,556 48% +2% MEUR █ METALS
Slide 6: Solid development of margin in Q2 2014
Solid development of margin in Q2 2014: SEPARATION still impacted by project-related follow-up costs EBITA (MEUR) EBITA MARGIN 133.4 5.7% 5.9% 3.7% 5.0% H1: +38% Q2 2013 Q2 2014 H1 2013 H1 2014 96.9 Q2: 84.8 Q2 2014 >> EBITA, at 84.8 MEUR, increased compared to Q2 2013 (82.7 MEUR) Q2: +3% >> EBITA m
Slide 7: Key figures Q2/H1 2014 at a glance
Key figures Q2/H1 2014 at a glance: unchanged solid net cash position, low capex and favorable net working capital Unit H1 2014 H1 2013 +/- Q2 2014 Q2 2013 +/- Order intake MEUR 2,980.2 2,526.0 +18.0% 1,238.0 1,237.7 +0.0% Order backlog (as of end of period) MEUR 7,555.7 7,644.4 -1.2% 7,555.7 7,644.
Slide 8: HYDRO: Still satisfactory project activity …
HYDRO Still satisfactory project activity … MODERNIZATIONS/REHABILITATIONS Unchanged satisfactory project activity in Europe and North America NEW HYDROPOWER PLANTS Some projects in emerging markets in implementation or planning phase (particularly in South America and Africa) PUMPS Solid project an
Slide 9: HYDRO: … and stable performance
… and stable performance HYDRO Einheit H1 2014 H1 2013 +/- Q2 2014 Q2 2013 +/- Order intake 1 MEUR 814.7 854.3 -4.6% 291.4 280.1 +4.0% Order backlog (as of end of period) MEUR 3,628.6 3,795.4 -4.4% 3,628.6 3,795.4 -4.4% Sales MEUR 805.5 850.6 -5.3% 442.7 469.4 -5.7% EBITDA MEUR 71.8 76.2 -5.8% 40.2
Slide 10: PULP & PAPER: Good investment activity …
PULP & PAPER Good investment activity … MODERNIZATIONS/GREENFIELD TISSUE Good project and investment activity for modernizations and refurbishments; next Good demand, greenfield pulp mills in South America expected for end of 2014/beginning of 2015 especially in China Photo: Montes del Plata Pulp mi
Slide 11: PULP & PAPER: … and solid business development
… and solid business development PULP & PAPER Unit H1 2014 H1 2013 +/- Q2 2014 Q2 2013 +/- Order intake 1 MEUR 1,057.2 815.0 +29.7% 402.4 391.5 +2.8% Order backlog (as of end of period) MEUR 2,027.9 1,892.6 +7.1% 2,027.9 1,892.6 +7.1% Sales MEUR 869.3 932.2 -6.7% 469.7 479.8 -2.1% EBITDA MEUR 49.8 1
Slide 12: METALS: Overall solid project activity …
METALS Overall solid project activity … METAL FORMING ALUMINUM Good project activity, Very good project especially in China; activity and successful satisfactory level in market entrance Europe FURNACES Good investment activity STAINLESS STEEL Unchanged low project activity, COMPETITION however some
Slide 13: METALS: … and solid business development
… and solid business development METALS Unit H1 2014 H1 2013 +/- Q2 2014 Q2 2013 +/- Order intake 1 MEUR 797.9 534.5 +49.3% 377.8 390.0 -3.1% Order backlog (as of end of period) MEUR 1,497.4 1,569.8 -4.6% 1,497.4 1,569.8 -4.6% Sales 2 MEUR 722.3 549.2 +31.5% 389.5 347.2 +12.2% EBITDA MEUR 50.2 45.1
Slide 14: SEPARATION: Mixed development of investment activities …
SEPARATION Mixed development of investment activities … ENVIRONMENT Solid investment activity by municipalities FOOD Satisfactory project activity MINING AND MINERALS Unchanged low project activity CHEMICALS Investment activity improving FEED AND BIOMASS PELLETING Good project activity ANDRITZ decan
Slide 15: SEPARATION: … and continuing unsatisfactory performance
… and continuing unsatisfactory performance SEPARATION Unit H1 2014 H1 2013 +/- Q2 2014 Q2 2013 +/- Order intake 1 MEUR 310.4 322.2 -3.7% 166.4 176.1 -5.5% Order backlog (as of end of period) MEUR 401.8 386.6 +3.9% 401.8 386.6 +3.9% Sales 1 MEUR 262.4 278.1 -5.6% 138.1 149.9 -7.9% EBITDA MEUR 4.0 4.
Slide 16: Outlook for remainder of 2014
Outlook for remainder of 2014 Investment activity to remain at current levels HYDRO PULP & PAPER Lower but still satisfactory project Solid project activity for modernizations/ activity for modernizations and new capacity increases and power/biomass stable + stable + hydropower stations; increasing