In the first half of the year, the technology group felt the effects of a lack of large orders for new plants in the wood pulp and metals sectors. Order intake fell by 18.4 percent, from 4.71 billion to 3.85 billion euros. Sales fell by 3 percent to 3.99 billion euros. The bottom line was a stable profit of 223.8 million euros, an increase of one percent compared to the same period last year, Andritz announced on Thursday.
“Thanks to growth in the service business and in green products, coupled with solid order processing, we were able to maintain our group result at the previous year’s level and slightly increase our profitability,” said CEO Joachim Schönbeck. A significant increase in sales was achieved in the environment and energy sector.
However, due to the otherwise declining order intake, “selective capacity adjustments” have been initiated. The company also wants to increase its focus on cost efficiency. The listed group has around 30,000 employees and more than 280 locations in 80 countries. The Andritz share currently costs 56.35 euros.
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Source: Nachrichten
