ANDRITZ Reports First Quarter 2024 Financial Results

On April 25, 2024, the international technology group ANDRITZ revealed its financial outcomes for the first quarter of 2024, showcasing stable profitability despite minor setbacks in revenue and order intake. The company recorded a slight decrease in revenue by 4% compared to the same period last year, but net income saw a small increase of 1.6%.

Amidst a challenging global economic landscape, ANDRITZ experienced a downturn in order intake by 19% from the previous year, primarily due to weaker market demand in the capital goods sectors. However, orders for green technologies showed a positive trajectory, demonstrating growth in the company's sustainable offerings.

The company marked some variability across its business sectors, with notable declines in Metals and Pulp & Paper, while significant gains were reported in Environment & Energy and Hydropower sectors. Overall, though faced with a drop in order intake and revenue, key parameters like the EBITA margin remained steady at 8.1%, mirroring last year's performance.

As per the outlook for the fiscal year 2024, ANDRITZ anticipates stable revenues and profits, adjusting expectations based on the ongoing global economic pressures. Despite the mixed results, areas such as green technologies and service business continue to evolve positively.