EANS-Adhoc: ANDRITZ: results for the first three quarters of 2009

ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide 
distribution. The issuer is solely responsible for the content of this 
announcement.  

06.11.2009 

Graz, November 6, 2009.  International technology Group ANDRITZ showed a solid 
business development in the first three quarters of 2009 in a continuing 
difficult overall economic environment. Sales amounted to 2,330.2 MEUR (-8.2% 
vs. Q1-Q3 2008: 2,538.9 MEUR), order intake, at 2,554.9 MEUR, achieved a good 
level, although it was below the over-proportionally high level of the previous 
year´s reference period (-11.9% vs. Q1-Q3 2008: 2,900.4 MEUR). Order backlog as 
of September 30, 2009, at approximately 4.5 bn. Euro, increased compared to the 
value as of December 31, 2008. Net income excluding minority interests amounted 
to 59.6 MEUR in the first three quarters of 2009 (Q1-Q3 2008: 105.4 MEUR). The 
ANDRITZ GROUP continues to expect its sales to decline by about 15% in the full 
year 2009 and its net income also to decrease versus the financial year 2008. 

Decline in Group sales, HYDRO business area remains strong 
Sales of the ANDRITZ GROUP in the third quarter of 2009 amounted to 756.1 MEUR 
(-14.9 % vs. Q3 2008: 888.9 MEUR). While the HYDRO business area achieved a 
significant increase in sales compared to the previous year´s reference value, 
sales in the other business areas declined - particularly in PULP & PAPER. 

Group sales for the first three quarters of 2009 amounted to 2,330.2 MEUR, thus 
declining by 8.2% compared to the reference period of 2008 (Q1-Q3 2008: 2,538.9 
MEUR). 

Order intake for the third quarter of 2009 almost 10% up compared to the 
previous year´s reference figure, solid order backlog 
Despite the continuing difficult economic environment, the ANDRITZ GROUP´s order 
intake showed a satisfactory development in the third quarter of 2009. At 842.2 
MEUR, order intake increased by 9.1% compared to the third quarter of 2008 
(771.7 MEUR). Particularly, the PULP & PAPER and the HYDRO business areas 
developed very favorably and achieved increases compared to the reference period 
for the previous year. 

In the first three quarters of 2009, order intake of the Group amounted to 
2,554.9 MEUR, thus 11.9% below the over-proportionally high level of the 
previous year´s reference period (Q1-Q3 2008: 2,900.4 MEUR). 

The order backlog as of September 30, 2009 amounted to 4,514.5 MEUR, practically 
unchanged compared to the high level of the previous year (September 30, 2008: 
4,558.1 MEUR) and higher than the figure for December 31, 2008 (4,277.4 MEUR). 

Satisfactory profitability in Q3 2009 
The EBITA of the ANDRITZ GROUP was 45.5 MEUR for the third quarter of 2009, thus 
below the previous year´s reference value (Q3 2008: 57.6 MEUR). Profitability 
(EBITA margin), at 6.0%, remained at a solid level despite the decline in sales 
(Q3 2008: 6.5%). The EBITA margin saw a particularly favorable development in 
the HYDRO business area, but was also above the previous year´s reference value 
in the METALS and the ENVIRONMENT & PROCESS business areas. 

The EBITA in the first three quarters of 2009 amounted to 102.0 MEUR and was 
thus significantly below the previous year´s reference value (Q1-Q3 2008: 162.1 
MEUR). This is mainly due to restructuring expenses of around 24 MEUR booked in 
the second quarter of 2009 and to lower sales. 

The financial result for the Group in the third quarter of 2009 was mainly 
impacted by price gains of sold money market funds and amounted to 9.5 MEUR (Q3 
2008: 1.5 MEUR). 

The net income excluding minority interests amounted to 59.6 MEUR for the first 
three quarters of 2009 (Q1-Q3 2008: 105.4 MEUR). 

Solid balance sheet structure, significant increase in liquid funds 
The ANDRITZ GROUP continued to show a solid balance sheet structure as of 
September 30, 2009. Total assets increased to 3,216.1 MEUR (December 31, 2008: 
3,086.3 MEUR), the equity ratio amounted to 18.7% (December 31, 2008: 18.7%). 

Liquid funds (Cash and cash equivalents plus Marketable securities) amounted to 
1,056.4 MEUR as of September 30, 2009 (December 31, 2008: 821.8 MEUR). The net 
liquidity (Liquid funds plus Fair value of interest rate swaps minus Financial 
liabilities) increased significantly, to 659.5 MEUR, thus higher than at the end 
of last year (December 31, 2008: 408.9 MEUR). 

Outlook for 2009 confirmed 
ANDRITZ confirms the sales and earnings expectations for the full year of 2009, 
as published in the financial report for 2008. The ANDRITZ GROUP continues to 
expect its sales to decline by about 15% in the full year 2009 and its net 
income to decrease versus the financial year 2008. Wolfgang Leitner, President 
and CEO of ANDRITZ AG, comments: ´The results for the first three quarters of 
2009 are in line with our expectations. In the HYDRO business area we expect the 
good investment activity to continue, in the other business areas we see 
stabilized project activity at current levels.´ 

Key figures of the ANDRITZ GROUP at a glance 


(acc. to IFRS; in MEUR)  Q1-Q3 2009  Q1-Q3 2008*  +/-   Q3 2009  Q3 2008*    +/- 
Sales                    2,330.2     2,538.9     -8.2%    756.1   888.9   -14.9% 
HYDRO                     987.4       798.8    +23.6%    337.0   308,2    +9.3% 
PULP & PAPER              671.2       981.4    -31.6%    205.4   311.3   -34.0% 
METALS                    351.9       412.2    -14.6%    108.3   144.2   -25.0% 
ENVIRONMENT & PROCESS     227.7       239.8     -5.0%     75.9    89.3   -15.0% 
FEED & BIOFUEL             92.0       106.7    -13.8%     29.5    35.7   -17.4% 

Order intake             2,554.9     2,900.4    -11.9%    842.2   771.7    +9.1% 
HYDRO                   1,378.5     1,012.1    +36.2%    324.0   242.9   +33.4% 
PULP & PAPER              604.4       955.5    -36.7%    301.6   244.0   +23.6% 
METALS                    261.7       534.6    -51.0%    116.4   172.0   -32.3% 
ENVIRONMENT & PROCESS     231.8       274.3    -15.5%     78.8    75.4    +4.5% 
FEED & BIOFUEL             78.5       123.9    -36.6%     21.4    37.4   -42.8% 

Order backlog 
as of end of period     4,514.5     4,558.1     -1.0%  4,514.5 4,558.1    -1.0% 

EBITDA                     146.7       196.5    -25.3%     57.5    69.9   -17.7% 
EBITDA margin               6.3%        7.7%       -       7.6%    7.9%      - 

EBITA 
(excl. restructuring)     126.3       162.1    -22.1%     45.5    57.6   -21.0% 
EBITA margin 
(excl. restructuring)      5.4%        6.4%       -       6.0%    6.5%      - 

EBITA 
(incl. restructuring)     102.0       162.1    -37.1%     45.5    57.6   -21.0% 
EBITA margin 
(incl. restructuring)      4.4%        6.4%       -       6.0%    6.5%      - 

Operating result (EBIT)     87.1       155.6    -44.0%     35.1    54.2   -35.2% 

Financial result             6.6         0.6 +1,000.0%      9.5     1.5  +533.3% 

Earnings Before 
Taxes (EBT)                93.7       156.2    -40.0%     44.6    55.7   -19.9% 

Net income (excl. 
minority interests)        59.6       105.4    -43.5%     27.1    35.6   -23.9% 

Cash flow from 
operating activities      344.1       309.2    +11.3%    226.5   183.0   +23.8% 

Investm. i. fixed tangible 
a. intangible assets       51.4        42.2    +21.8%     11.2    14.5   -22.8% 

Employees 
as of end of period      13,176      13,225     -0.4%   13,176  13,225    -0.4% 

* restated 

The interim financial report for the first three quarters of 2009 as well as the 
annual and financial reports of the ANDRITZ GROUP are available on the ANDRITZ 
website at www.andritz.com in online and pdf versions. Printed copies can be 
requested by telephone (+43 316 6902-2722), fax (+43 316 6902-465), or e-mail 
(investors@andritz.com). 

The ANDRITZ GROUP 
The ANDRITZ GROUP is a global market leader for customized plants, process 
technologies, and services for the hydropower, pulp and paper, metals, and other 
industries (solid/liquid separation, feed and biofuel). The Group is 
headquartered in Graz, Austria and has a staff of approximately 13,200 employees 
worldwide. ANDRITZ operates over 150 production sites, service, and sales 
companies all around the world. 

Disclaimer 
Certain statements contained in this press release constitute `forward-looking 
statements.´ These statements, which contain the words `believe´, `intend´, 
`expect´, and words of a similar meaning, reflect the Executive Board´s beliefs 
and expectations and are subject to risks and uncertainties that may cause 
actual results to differ materially. As a result, readers are cautioned not to 
place undue reliance on such forward-looking statements. The Company disclaims 
any obligation to publicly announce the result of any revisions to the 
forward-looking statements made herein, except where it would be required to do 
so under applicable law. 



end of announcement                               euro adhoc