Andritz Ag · VIE:ANDR
Andritz — Investor Presentation (March 2015)
30 slides from Andritz's investor presentation, March 2015
Slide 1: ANDRITZ GROUP Company presentation March 2015
ANDRITZ GROUP Company presentation March 2015
Slide 2: ANDRITZ GROUP overview
1. ANDRITZ GROUP overview 2. Results 2014 3. Long-term goals and outlook
Slide 3: The ANDRITZ GROUP Overview
The ANDRITZ GROUP Overview Profile: globally leading supplier of plants, equipment, and services for hydropower stations, the pulp and paper industry, the metal- working and steel industries, and solid/liquid separation in the municipal and industrial sectors Headquarters: Graz, Austria Global prese
Slide 4: HYDRO and PULP & PAPER
Worldwide leading position in four business areas HYDRO and PULP & PAPER … Product offerings: electromechanical equipment for Product offerings: equipment for production hydropower plants (turbines, generators); pumps; of all types of pulp, paper, tissue, and board; turbo generators energy boilers O
Slide 5: METALS and SEPARATION
… METALS and SEPARATION Product offerings: presses for metalforming (Schuler); Product offerings: equipment for solid/liquid separation systems for production of stainless steel, carbon steel, for municipalities and various industries; equipment and non-ferrous metal strip; industrial furnace plants
Slide 6: Strengthening of market position: growth through organic expansion and acquisitions
Strengthening of market position Growth through organic expansion and acquisitions Recent acquisitions by business area since 1990 Compound Annual Growth Rate (CAGR) of Group sales 2005-2014: +14% p. a. (thereof approximately half organic growth) HYDRO 2011 Iggesund Tools 2006 VA TECH HYDRO 2011 Tri
Slide 7: Results 2014
1. ANDRITZ GROUP overview 2. Results 2014 3. Long-term goals and outlook
Slide 8: Financial highlights 2014
Financial highlights 2014 Order intake, sales, and order Earnings and margins substantially backlog reach record highs improved compared to very low levels of 2013 Order intake 6.1 bn. EUR Strong development of cash flow and net cash position Sales 5.9 bn. EUR Solid level of net working capital Orde
Slide 9: Group sales
Group sales Slight increase due to Schuler GROUP SALES (MEUR) SALES by business area 2014 vs. 2013 (MEUR) * Schuler portion 2014 2013 +/- Project-related lower +3% sales generation in HYDRO 1,752 1,805 -3% (-1% ex Schuler) HYDRO and PULP & PULP & PAPER 1,969 2,005 -2% PAPER 5,859 5,711 METALS 1,551
Slide 10: Group order intake significantly increased
Group order intake significantly increased PULP & PAPER and METALS favorably up GROUP ORDER INTAKE (MEUR) ORDER INTAKE by business area 2014 vs. 2013 (MEUR) * Schuler portion 2014 2013 +/- +9% HYDRO 1,817 1,865 -3% (+3% ex Schuler) PULP & PAPER 1,996 1,908 +5% 6,101 METALS 1,693 1,234 +37% Also +37%
Slide 11: Order backlog at record high, mainly driven by METALS
Order backlog at record high, mainly driven by METALS GROUP ORDER BACKLOG ORDER BACKLOG by business area 2014 vs. 2013 (as of end of period; MEUR) (as of end of period in MEUR) * Schuler portion 2014 2013 +/- +2% HYDRO 3,709 3,722 +/-0% (+2% ex Schuler) PULP & PAPER 1,875 1,886 -1% 7,389 7,511 METAL
Slide 12: Strong increase in earnings and profitability compared to very low levels of 2013
Strong increase in earnings and profitability compared to very low levels of 2013 Increase of EBITA and EBITA margin driven by strong earnings improvements of PULP & PAPER, SEPARATION, and METALS; unchanged good profitability of HYDRO EBITA (MEUR) EBITA MARGIN (%) +131% 379.5 2014: 2013: 2.9% 6.5% 1
Slide 13: Key figures 2014 at a glance
Key figures 2014 at a glance Unit 2014 2013 +/- Order intake MEUR 6,101.0 5,611.0 +8.7% Order backlog (as of end of period) MEUR 7,510.6 7,388.5 +1.7% Sales MEUR 5,859.3 5,710.8 +2.6% EBITDA MEUR 472.0 255.2 +85.0% EBITA MEUR 379.5 164.1 +131.3% EBIT MEUR 295.7 89.8 +229.3% EBT MEUR 299.4 80.3 +272.
Slide 14: HYDRO (1)
HYDRO (1) Reasonable project activity, but far below peak level of 2011 MODERNIZATIONS/REHABILITATIONS Photo: Tidal Lagoon Swansea Bay plc. Solid project activity in Europe and North America, although below peak years NEW HYDROPOWER PLANTS Some projects in emerging markets in implementation or plann
Slide 15: HYDRO (2)
HYDRO (2) Satisfactory business development Unit 2014 2013 +/- Order intake in line with Order intake MEUR 1,816.7 1,865.4 -2.6% expectations Order backlog (as of end of period) MEUR 3,708.6 3,722.4 -0.4% Slight project-related Sales MEUR 1,752.3 1,804.8 -2.9% decline in sales EBITDA MEUR 177.2 176.
Slide 16: PULP & PAPER (1)
PULP & PAPER (1) Good investment and project activity MODERNIZATIONS/GREENFIELD Photo: Metsä Fibre Oy Good project and investment activity for modernizations/refurbishments and for new greenfield pulp mills BIOMASS/RECOVERY BOILERS Good investment activity TISSUE Solid demand, especially in China CO
Slide 17: PULP & PAPER (2)
PULP & PAPER (2) Strong improvement in earnings and profitability Unit 2014 2013 +/- Favorable order intake of almost 2 billion euros Order intake MEUR 1,995.7 1,907.7 +4.6% Order backlog (as of end of period) MEUR 1,875.4 1,885.6 -0.5% Slight project-related decline in sales Sales MEUR 1,969.3 2,00
Slide 18: METALS (1)
METALS (1): good investment activity in metal forming and for aluminum equipment METALFORMING Good project activity, especially in China; satisfactory level in Europe STAINLESS STEEL Unchanged low project activity, however some selective investments in emerging markets ALUMINUM Very good project act
Slide 19: METALS (2)
METALS (2) Favorable business development Unit 2014 2013 +/- Order intake favorably up due to the metal- forming (Schuler) and Order intake MEUR 1,692.8 1,233.8 +37.2% aluminum equipment Order backlog (as of end of period) MEUR 1,566.1 1,427.6 +9.7% Sales increase mainly Sales MEUR 1,550.4 1,311.0 +
Slide 20: SEPARATION (1)
SEPARATION (1) ENVIRONMENT AND FOOD Solid investment activity MINING AND MINERALS Unchanged low project activity CHEMICALS Solid project activity FEED AND BIOMASS PELLETING Good project activity For the waste water treatment plant, industrial effluent treatment plant, and food application segments,
Slide 21: SEPARATION (2)
SEPARATION (2) Order intake and sales stabilized, earnings improved Unit 2014 2013 +/- Order intake and sales practically unchanged Order intake MEUR 595.8 604.1 -1.4% compared to 2013 Order backlog (as of end of period) MEUR 360.5 352.9 +2.2% Sales MEUR 587.3 589.7 -0.4% EBITDA MEUR 33.2 13.3 +149.
Slide 22: Long-term goals and outlook
1. ANDRITZ GROUP overview 2. Results 2014 3. Long-term goals and outlook
Slide 23: Target to continue long-term profitable growth
Target to continue long-term profitable growth Goal: maintain 7% and improve to 8% with top-line sales growth Long term: maintain 7% and improve to Average 8% with top-line 2005-2009: sales growth % Average 6.0% 8.0 2000-2004: MEUR 5.3% 7.2 7.2 5,859 6,000 6.9 7.0 6.5 5.711** 6.5 6.3 6.4 6.1 6.1 5,1
Slide 24: Outlook for 2015
Outlook for 2015 Investment activity to remain at current satisfactory levels HYDRO Good project activity for modernizations and new hydropower stations to stable + continue; satisfactory market activity for pumps to continue PULP & PAPER Solid project activity for modernizations/capacity increases
Slide 25: Appendix: Financials
ANDRGTZL Appendix: Financials
Slide 26: ANDRITZ GROUP Sales, order intake, EBITA, and EBITA margin 2010-2014
ANDRITZ GROUP Sales, order intake, EBITA, and EBITA margin 2010-2014 Sales (in MEUR): CAGR +13% EBITA (in MEUR) 5,711 5,859 5,177 Average 357.8 379.5 4,596 331.5 Average 4,979 257.6 3,554 MEUR 298 164.1 MEUR 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 Order intake (in MEUR): CAGR +10% EBITA ma
Slide 27: HYDRO Sales, order intake, EBITA, and EBITA margin 2010-2014
HYDRO Sales, order intake, EBITA, and EBITA margin 2010-2014 Sales (in MEUR): CAGR +3% EBITA (in MEUR) 1,837 1,805 147.7 153.2 146.9 144.8 1,773 1,752 Average Average 1,579 118.0 1,749 142 MEUR MEUR 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 Order intake (in MEUR): CAGR -1% EBITA margin (in %
Slide 28: PULP & PAPER Sales, order intake, EBITA, and EBITA margin 2010-2014
PULP & PAPER Sales, order intake, EBITA, and EBITA margin 2010-2014 Sales (in MEUR): CAGR +15% EBITA (in MEUR) 2,282 134.6 1,885 2,005 1,969 Average 120.4 102.9 1,854 82.2 Average 1,130 MEUR 81 MEUR 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 -35.7 Order intake (in MEUR): CAGR +9% EBITA margin
Slide 29: METALS Sales, order intake, EBITA, and EBITA margin 2010-2014
METALS Sales, order intake, EBITA, and EBITA margin 2010-2014 Sales (in MEUR): CAGR +46%* EBITA (in MEUR) 1,550 1,311 110.2 Schuler: 1,178 Schuler: 967 98.4* 53.5 Average 340 373 405 ex Schuler: Average 39.7* 18.4 19.4 25.1 367 ex Schuler: MEUR 17.7 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014
Slide 30: SEPARATION Sales, order intake, EBITA, and EBITA margin 2010-2014
SEPARATION Sales, order intake, EBITA, and EBITA margin 2010-2014 Sales (in MEUR): CAGR +4% EBITA (in MEUR) 653 44.0 44.9 590 587 Average 566 39.0 505 580 Average MEUR 21.6 30 MEUR 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 -0.6 Order intake (in MEUR): CAGR +2% EBITA margin (in %) 629 604 7.7