Andritz Ag · VIE:ANDR
Andritz — Q1 2021 Earnings Presentation
22 slides from Andritz's earnings presentation, Apr 29, 2021
Slide 1: Results for Q1 2021
RESULTS FOR Q1 2021 ANDRITZ GROUP APRIL 29, 2021
Slide 2: Chapter Overview
CHAPTER OVERVIEW 01 Q1 2021 AT A GLANCE 02 PERFORMANCE Q1 2021 03 UPDATE OF BUSINESS AREAS 04 2 / ANDRITZ / RESULTS OF THE ANDRITZ GROUP FOR Q1 2021 / APRIL 29, 2021 / © ANDRITZ GROUP
Slide 3: Q1 2021 at a Glance
Q1 2021 AT A GLANCE Very solid development of financial figures • Group order intake, at 1.7 billion euros, reaches favorable level – with all business areas showing solid developments; strong recovery in the service business vs. preceding quarters • Revenue at satisfactory level of 1.5 billion euro
Slide 4: Chapter Overview
CHAPTER OVERVIEW 01 Q1 2021 AT A GLANCE 02 PERFORMANCE Q1 2021 03 UPDATE OF BUSINESS AREAS 04 4 / ANDRITZ / RESULTS OF THE ANDRITZ GROUP FOR Q1 2021 / APRIL 29, 2021 / © ANDRITZ GROUP
Slide 5: Order Intake Reaches Favorable Level
ORDER INTAKE REACHES FAVORABLE LEVEL Down q/q due to large pulp order in Q1 2020, however positive development across all business areas ORDER INTAKE (IN MEUR) ORDER INTAKE BY BUSINESS AREA (IN MEUR) Q1 2021 Q1 2020 +/- -6.7% 1,853 Pulp & Paper 846 1,078 -22% 1,730 Metals 429 362 +19% Hydro 284 246
Slide 6: Quarterly Development of Order Intake
QUARTERLY DEVELOPMENT OF ORDER INTAKE Order intake of last 4 quarters amounted to ~6.0 billion euros • Decline in capital compared to high level in Q1 2020, which included a large-scale pulp mill order • Service business has shown strong recovery during last quarters ORDER INTAKE SPLIT: CAPITAL / SE
Slide 7: Group Revenue Practically Stable q/q
GROUP REVENUE PRACTICALLY STABLE Q/Q Pulp & Paper stable, Hydro, and Separation up, Metals down REVENUE (IN MEUR) -1.1% REVENUE BY BUSINESS AREA (IN MEUR) Q1 2021 Q1 2020 +/- 1,510 1,493 Pulp & Paper 711 713 0% Metals 316 355 -11% Hydro 316 298 +6% Separation 150 144 +5% REVENUE SPLIT CAPITAL / SERV
Slide 8: Service Business by Business Area
SERVICE BUSINESS BY BUSINESS AREA % of total business area revenue PULP & PAPER METALS 48 51 41 42 41 41 24 23 27 24 25 22 2016 2017 2018 2019 2020 Q1 2021 2016 2017 2018 2019 2020 Q1 2021 HYDRO SEPARATION 47 48 51 46 45 45 32 34 35 26 29 28 2016 2017 2018 2019 2020 Q1 2021 2016 2017 2018 2019 2020
Slide 9: Order Backlog
ORDER BACKLOG Order backlog at 7.1 billion euros as of end of Q1 2021 ORDER BACKLOG (AS OF END OF PERIOD; IN MEUR) -11% ORDER BACKLOG BY BUSINESS AREA Q1 2021 (Q1 2020) IN % 8,121 7,778 7,925 7,724 7,084 7,261 7,397 7,330 6,974 6,849 6,841 6,883 6,774 7,071 6,651 6,383 6,553 D A C B Q1 17 Q2 17 Q3 1
Slide 10: EBITA and Profitability Significantly Up
EBITA AND PROFITABILITY SIGNIFICANTLY UP Improvement in all business areas, turnaround in Metals EBITA (IN MEUR) AND EBITA MARGIN (IN %) EBITA MARGIN (IN %) PULP & PAPER METALS 9.7 8.7 +58.2% 110.9 2.8 70.1 7.4%* Q1 2020 Q1 2021 Q1 2020 Q1 2021 -3.7 HYDRO SEPARATION 4.6%* 9.5 6.0 5.0 4.5 Q1 2020 Q1
Slide 11: EBITDA – Net Income Bridge
EBITDA – NET INCOME BRIDGE Net income doubled y/y due to strong operational performance 151.1 • Net interest result improved to -4.6 MEUR (Q1 2020: -6.7 MEUR) due (112.6)** to reduction of some loans Thereof ~6 MEUR • Decrease in other financial result to for Xerium -7.0 MEUR (Q1 2020: -2.9 MEUR) du
Slide 12: Cash Flow from Operating Activities Slightly Improved
CASH FLOW FROM OPERATING ACTIVITIES SLIGHTLY IMPROVED Increase in gross cash flow Mainly project related changes in 54.7 -15.5 Hydro; stable development in the 11.2 139.0 -36.5 other business areas Split of total depreciation: (58.8)* (-24.0)* (2.3)* (88.1)* (-5.4)* • ~40 MEUR depreciation, • ~15 ME
Slide 13: Key Figures Q1 2021 at a Glance
KEY FIGURES Q1 2021 AT A GLANCE Slight improvement of cash flow, solid financial position UNIT Q1 2021 Q1 2020 +/- 2020 Order intake MEUR 1,729.5 1,852.9 -6.7% 6,108.0 Order backlog (as of end of period) MEUR 7,071.3 7,924.6 -10.8% 6,774.0 • Solid financial position with slightly higher cash Revenue
Slide 14: Chapter Overview
CHAPTER OVERVIEW 01 Q1 2021 AT A GLANCE 02 03 UPDATE OF BUSINESS AREAS 04 14 / ANDRITZ / RESULTS OF THE ANDRITZ GROUP FOR Q1 2021 / APRIL 29, 2021 / © ANDRITZ GROUP
Slide 15: Pulp & Paper: Earnings and Profitability at Unchanged High Level
PULP & PAPER: EARNINGS AND PROFITABILITY AT UNCHANGED HIGH LEVEL Favorable development of order intake, although below high level of Q1 2020 UNIT Q1 2021 Q1 2020 +/- 2020 Order intake below level of Q1 Order intake MEUR 845.5 1,078.2 -21.6% 2,961.1 2020 which included a large pulp mill order from So
Slide 16: Metals: Earnings and Profitability Improved
METALS: EARNINGS AND PROFITABILITY IMPROVED Positive impact of cost adjustment measures in Metals Forming UNIT Q1 2021 Q1 2020 +/- 2020 Order intake up due to Metals Order intake MEUR 429.1 361.5 +18.7% 1,143.6 Processing as a consequence of high investment activity by Order backlog (as of end of pe
Slide 17: Hydro: Solid Business Development
HYDRO: SOLID BUSINESS DEVELOPMENT Increase in order intake, no large order included UNIT Q1 2021 Q1 2020 +/- 2020 Order intake up q/q, favorable Order intake MEUR 284.3 245.5 +15.8% 1,335.4 development of service business Order backlog (as of end of period) MEUR 2,595.2 2,551.4 +1.7% 2,587.9 Revenue
Slide 18: Separation: Further Improvement of Earnings and Profitability
SEPARATION: FURTHER IMPROVEMENT OF EARNINGS AND PROFITABILITY Stable development of order intake UNIT Q1 2021 Q1 2020 +/- 2020 Order intake stable Order intake MEUR 170.6 167.7 +1.7% 667.9 Order backlog (as of end of period) MEUR 439.3 435.6 +0.8% 413.5 Revenue increased q/q Revenue MEUR 150.2 143.5
Slide 19: Chapter Overview
CHAPTER OVERVIEW 01 Q1 2021 AT A GLANCE 02 03 04 19 / ANDRITZ / RESULTS OF THE ANDRITZ GROUP FOR Q1 2021 / APRIL 29, 2021 / © ANDRITZ GROUP
Slide 20: Update Market Expectations 2021
UPDATE MARKET EXPECTATIONS 2021 Continued solid outlook for basically all industries served by ANDRITZ Market outlook: • Pulp and Paper: solid project activity for both modernizations and new installations to continue, supported by high pulp prices and high demand for tissue, nonwoven and container
Slide 21: Guidance 2021 Confirmed
GUIDANCE 2021 CONFIRMED Financial guidance for 2021: • Due to decline of order intake in 2020, Group revenue expected to be slightly lower vs. 2020 (2020: 6.700 MEUR) • Increase in reported EBITA compared to 2020 (2020: 392 MEUR) • Depending on revenue development, adjusted EBITA approximately stabl
Slide 22: Legal Disclaimer
LEGAL DISCLAIMER © ANDRITZ AG 2021 This presentation contains valuable, proprietary property belonging to ANDRITZ AG or its affiliates (“the ANDRITZ GROUP”), an d no licenses or other intellectual property rights are granted herein, nor shall the contents of this presentation form part of any sales