Andritz (ANDR) Investor presentation summary

Business overview and strategy

• Operates in four diversified sectors: Pulp & Paper, Metals, Hydropower, and Environment & Energy, with strong global market positions and a resilient business model.

• Service business is a key growth driver, representing 44% of 2025 revenues and providing high revenue stability and recurring cash flows.

• Focuses on long-term profitable growth through decarbonization, digitalization, and customer service, supported by a robust M&A strategy.

• Maintains a conservative balance sheet, strong net liquidity, and a progressive dividend policy with a payout ratio above 50%.

• Global presence with over 30,000 employees in more than 80 countries and 280+ locations.

ESG and innovation

• Set ambitious 2030 ESG targets: >50% E-impact revenue, significant GHG emission reductions, and increased supplier sustainability ratings.

• Progressing well on ESG goals, with external recognition from MSCI, ISS ESG, Sustainalytics, and S&P Global.

• R&D investment exceeds €130mn annually, focusing on sustainable technologies, digital solutions, and partnerships with leading institutions.

• Offers green products and solutions in areas like carbon capture, green hydrogen, battery production, and textile recycling.

Financial performance and capital allocation

• 2025 order intake reached €8.9bn, backlog at €10.5bn, and revenue at €7.9bn; service revenue CAGR outpaces group revenue growth.

• EBITA margin improved to 8.9% in 2025, with ROIC at 17.8%, significantly above WACC, indicating strong value creation.

• Operating cash flow remains robust, supporting increased capex, dividends, and M&A, all internally funded.

• Net liquidity at €593mn in H1 2026, with further improvements in operating net working capital.

• Dividend per share increased to €2.70 for 2025, maintaining an average payout ratio above 50%.