Andritz Posts Robust Q3 2023 Results With 11% Revenue Growth
Andritz, the international technology group, has reported strong financial results for the third quarter of 2023. Compared to Q3 2022, the company’s revenue increased by 11%, net income saw a 27% boost, and EBITA rose by 16%. However, the order intake was lower than the previous year due to the absence of large orders, but the order backlog remained high. The outlook for the full year 2023 remains positive.
In Q3 2023, Andritz entered the green hydrogen market with an engineering order and secured a significant order to supply a complete green hydrogen plant to the Salzgitter Group in Europe.
Joachim Schönbeck, President & CEO of Andritz AG, emphasized the company’s commitment to innovation and sustainability, with products and solutions contributing to its order intake and strong growth in service revenues.
Financial Key Figures:
- Order intake in Q3 2023: 1,803.5 MEUR, 32.8% lower than Q3 2022.
- Order backlog as of September 30, 2023: 10,361.2 MEUR, a 3.9% increase compared to the end of 2022.
- Q3 2023 revenue: 2,104.1 MEUR, an 11.3% increase from Q3 2022.
- EBITA in Q3 2023: 176.4 MEUR, a 15.6% increase from Q3 2022.
- Q3 2023 net income: 124.6 MEUR, a 26.6% increase from Q3 2022.
For the full year 2023, Andritz has confirmed its financial guidance and has anticipated a significant increase in revenue and earnings, with stable profitability.
