Andritz Ag · VIE:ANDR
Andritz — H1 2022 Earnings Presentation
21 slides from Andritz's earnings presentation, Jul 29, 2022
Slide 1: ANDRITZ Group Results Q2 / H1 2022
ANDRITZ GROUP RESULTS Q2 / H1 2022 JULY 29, 2022
Slide 2: Agenda
AGENDA 1 Q 2 2 0 2 2 AT A G L AN C E 2 / ANDRITZ / RESULTS OF THE ANDRITZ GROUP FOR H1 2022 / JULY 29, 2022 / © ANDRITZ GROUP
Slide 3: Very favorable business development in Q2 2022
VERY FAVORABLE BUSINESS DEVELOPMENT IN Q2 2022 ANDRITZ GROUP key figures at a glance V E RY H I G H G R O U P GROUP REVENUE E B I TA AT 1 5 1 M E U R O R D E R I N TAK E AT I N C R E AS E D TO AN D M AR G I N AT 8 . 4 % 2.2 BN EUROS 1.8 BILLION EUROS Very favorable development with increases Group r
Slide 4: Agenda
AGENDA 2 P E R F O R M AN C E Q 2 2 0 2 2 4 / ANDRITZ / RESULTS OF THE ANDRITZ GROUP FOR H1 2022 / JULY 29, 2022 / © ANDRITZ GROUP
Slide 5: Favorable order intake in Q2 2022 with increase in all business areas
FAVORABLE ORDER INTAKE IN Q2 2022 WITH INCREASE IN ALL BUSINESS AREAS Hydro and Separation strongly up; increase in Metals driven by Schuler ORDER INTAKE* ORDER INTAKE BY BUSINESS AREA* ORDER INTAKE BY REGION H1 2022 VS. H1 2021 (%) Q2 2022 Q2 2021 +/- +33% Pulp & Paper 975 867 +12% E F Metals 489 4
Slide 6: Strong increase of revenue
STRONG INCREASE OF REVENUE Increase in all four business areas REVENUE* REVENUE BY BUSINESS AREA* REVENUE SPLIT: CAPITAL / SERVICE H1 2022 VS. H1 2021 (%) +10% Q2 2022 Q2 2021 +/- Pulp & Paper 867 754 +15% Metals 377 322 +17% Service 40% (39%) Capital 3,317 Hydro 359 294 +22% 3,027 60% (61%) Separat
Slide 7: Service business by business area
SERVICE BUSINESS BY BUSINESS AREA % of total business area revenue PULP & PAPER METALS % MEUR % MEUR 100 1500 100 500 48 51 45 47 48 1000 50 41 50 250 23 27 24 25 25 25 500 0 0 0 0 2018 2019 2020 2021 Q2 2022 H1 2022 2018 2019 2020 2021 Q2 2022 H1 2022 Share in % Service revenue (last 4 quarters) Sh
Slide 8: Order backlog reaches new record high
ORDER BACKLOG REACHES NEW RECORD HIGH Impact of Russian sanctions and price hikes are taken care of Pulp & Paper and Hydro account for 75% of total order backlog ORDER BACKLOG BY BUSINESS AREA H1 2022 VS. H1 2021 IN MEUR +33% D IN MEUR 9,859 9,435 A 8,121 8,166 7,724 7,778 7,925 C 7,261 7,397 7,330
Slide 9: Earnings significantly up; further increase of margin
EARNINGS SIGNIFICANTLY UP; FURTHER INCREASE OF MARGIN Profitability increases especially in Metals, Hydro, and Separation EBITA* AND EBITA MARGIN EBITA* AND EBITA MARGIN EBITA MARGIN REPORTED ADJUSTED PULP & PAPER METALS 11.8%** +10% 10.8%** 10.8%** 10.4%** +15% 11.0% 10.1% 10.4% 10.0% 4.5%** 4.3%**
Slide 10: EBITDA – Net income bridge
EBITDA – NET INCOME BRIDGE IN MEUR 362.2 (318.6)* TAX RATE: 26.5% 273.2 -89.0 (237.7)* 241.5 223.1 (-80.9)* -31.7 -0.0 (204.1)* -18.4 (185.9)* (-30.3)* (-3.3)* (-18.2)* 163.9 -59.2 (134.8)* (-51.1)* 10.9%** 8.2%** 7.3%** 6.7%** 4.9%** * (H1 2021) ** % OF TOTAL REVENUE 10 / ANDRITZ / RESULTS OF THE A
Slide 11: Cash flow from operating activities and free cash flow
CASH FLOW FROM OPERATING ACTIVITIES AND FREE CASH FLOW IN MEUR Split of total depreciation: ~89 MEUR depreciation 220.9 13.0 0.7 ~32 MEUR IFRS 3 amortization (-53.2)* (8.1)* -15.5 (0.3)* (-16.2)* 413.2 120.7 -88.3 (153.0)* 332.7 (-74.8)* (114.5)* 282.4 -80.5 (92.9)* -36.8 59.2 3.5 -28.1 (288.8)* Cha
Slide 12: Solid financial position
SOLID FINANCIAL POSITION Gross liquidity of ~2.0 billion euros, net liquidity at ~900 million euros Note: Since January 1, 2019, lease liabilities are excluded from the calculation of net liqudity; 2018 adjusted IN MEUR Acquisition Schuler: 600 MEUR 2 350 Acquisition Xerium: 2,048 770 MEUR 1,963 1,8
Slide 13: Key figures Q2 / H1 2022 at a glance
KEY FIGURES Q2 / H1 2022 AT A GLANCE UNIT Q2 2022 Q2 2021 +/- H1 2022 H1 2021 +/- 2021 Order intake MEUR 2,179.0 1,862.3 +17.0% 4,767.6 3,591.8 +32.7% 7,879.7 Order backlog Significant increase in MEUR 9,859.1 7,403.5 +33.2% 9,859.1 7,403.5 +33.2% 8,165.8 (as of end of period) cash flow mainly due t
Slide 14: Agenda
AGENDA 3 U P D AT E O F B U S I N E S S AR E AS 14 / ANDRITZ / RESULTS OF THE ANDRITZ GROUP FOR H1 2022 / JULY 29, 2022 / © ANDRITZ GROUP
Slide 15: Pulp & Paper: unchanged favorable business development
PULP & PAPER: UNCHANGED FAVORABLE BUSINESS DEVELOPMENT Increase in order intake and revenue UNIT Q2 2022 Q2 2021 +/- H1 2022 H1 2021 +/- 2021 ORDER INTAKE BY REGION Order intake MEUR 975.0 866.8 +12.5% 2,080.8 1,712.3 +21.5% 3,774.7 H1 2022 VS. H1 2021 (%) Order backlog (as of end of period) MEUR 3,
Slide 16: Metals: earnings and profitability improvement continued
METALS: EARNINGS AND PROFITABILITY IMPROVEMENT CONTINUED Receipt of a large order for a press line in China; Revenue significantly up q/q UNIT Q2 2022 Q2 2021 +/- H1 2022 H1 2021 +/- 2021 ORDER INTAKE BY REGION Order intake MEUR 489.3 414.5 +18.0% 990.7 843.6 +17.4% 1,778.8 H1 2022 VS. H1 2021 (%) O
Slide 17: Hydro: strong increase in order intake and revenue
HYDRO: STRONG INCREASE IN ORDER INTAKE AND REVENUE Earnings and profitability improved UNIT Q2 2022 Q2 2021 +/- H1 2022 H1 2021 +/- 2021 ORDER INTAKE BY REGION Order intake MEUR 457.8 370.2 +23.7% 1,214.1 654.5 +85.5% 1,565.2 H1 2022 VS. H1 2021 (%) Order backlog (as of end of period) MEUR 3,422.5 2
Slide 18: Separation: very favorable business development
SEPARATION: VERY FAVORABLE BUSINESS DEVELOPMENT Strong increase in order intake, revenue, and earnings q/q UNIT Q2 2022 Q2 2021 +/- H1 2022 H1 2021 +/- 2021 ORDER INTAKE BY REGION Order intake MEUR 256.9 210.8 +21.9% 482.0 381.4 +26.4% 761.0 H1 2022 VS. H1 2021 (%) Order backlog (as of end of period
Slide 19: Agenda
AGENDA 4 OUTLOOK 19 / ANDRITZ / RESULTS OF THE ANDRITZ GROUP FOR H1 2022 / JULY 29, 2022 / © ANDRITZ GROUP
Slide 20: Market outlook and financial guidance
MARKET OUTLOOK AND FINANCIAL GUIDANCE Financial guidance 2022 is based on current framework conditions OUTLOOK • Project and investment activities in the industries served by ANDRITZ remain solid • Geo-economical challenges (Russian war, sanctions, Covid-19, inflation, etc.) are closely monitored FI
Slide 21: Legal disclaimer
LEGAL DISCLAIMER © ANDRITZ AG 2022 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