In This Article:
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Order Intake Q4 2024: EUR2.5 billion.
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Revenue Q4 2024: EUR2.3 billion.
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Order Backlog: EUR9.7 billion.
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EBITA Margin Q4 2024: 10.2% comparable, 9.0% reported.
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Net Income Q4 2024: EUR154 million, 6.8% margin.
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Full Year Order Intake 2024: EUR8.3 billion.
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Full Year Revenue 2024: EUR8.3 billion.
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Full Year EBITA 2024: EUR743 million comparable, 8.9% margin; EUR713 million reported, 8.6% margin.
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Full Year Net Income 2024: EUR497 million, 6% margin.
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Dividend Per Share: Proposed increase to EUR2.6 per share.
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Service Revenue Share: 41%, all-time high.
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Free Cash Flow 2024: EUR399 million.
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Net Liquidity: Above EUR900 million.
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Return on Invested Capital: 22%.
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Guidance 2025 Revenue: EUR8.0 billion to EUR8.3 billion.
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Guidance 2025 Comparable EBITA Margin: 8.6% to 9%.
Release Date: March 06, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Andritz AG (ADRZY) reported a record order intake in December 2024, driven by strong performance in the Pulp & Paper and Hydropower sectors.
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The company achieved a stable EBITA margin with a record net income margin of 6% for the year.
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Service business revenue reached an all-time high, contributing 41% to total revenue, indicating strong growth in this segment.
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Andritz AG (ADRZY) made strategic acquisitions to strengthen its digitalization and decarbonization efforts, including acquiring Procemex and investing in HydrogenPro.
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The company proposed an increase in dividend per share by EUR0.10 to EUR2.6, reflecting confidence in its financial stability and future prospects.
Negative Points
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There was a slight decrease in overall revenue year-on-year, attributed to subdued market conditions and delayed order intake conversion.
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The company reported additional provisions for capacity adjustments, particularly in the Metals and Paper segments, impacting reported EBITA.
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Andritz AG (ADRZY) experienced a negative financial result due to a devaluation issue related to the deconsolidation of its cybersecurity joint venture, Otorio.
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The company acknowledged challenges in reaching its ESG target of 50% green revenues by 2025, currently at 44%.
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The guidance for 2025 indicates flat to slightly declining revenue, reflecting cautious market conditions and economic uncertainties.
Q & A Highlights
Q: Can you explain the change in guidance parameters from reported EBITA to adjusted EBITA and any expected restructuring in the coming years? A: Joachim Schoenbeck, CEO: The capacity adjustments have been initiated and announced, with execution ongoing. We expect the majority of these adjustments to be completed in 2025, with full P&L effects visible from 2026 onwards. Currently, no additional restructuring is planned.