Andritz (ANDR) Q1 2025 earnings summary

Executive summary

• Order intake rose 20% year-over-year to EUR 2.3 billion, led by strong Pulp & Paper (+52%) and Hydropower (+14%) performance.

• Revenue declined 7% year-over-year to EUR 1.76 billion, mainly due to lower capital business in Pulp & Paper and Metals, while Service revenue reached a record 44% of total revenue.

• EBITDA margin remained stable at 8.1% reported and 8.2% comparable; net income dropped 14% year-over-year to EUR 89 million, reflecting a 1.5% margin.

• Order backlog increased to EUR 10.2 billion, providing a strong foundation for future sales.

• Two strategic acquisitions (LDX Solutions completed, Celli Paper pending) strengthened clean air and tissue paper offerings.

Financial highlights

• Order intake: EUR 2.3 billion (+20% year-over-year); order backlog: EUR 10.2 billion (+2%).

• Revenue: EUR 1.76 billion (-7% year-over-year); Service revenue share at 44%.

• EBITDA: EUR 184.7 million (margin 8.1%), down 4.8% year-over-year; comparable EBITDA margin 8.2%.

• Net income: EUR 89 million (margin 1.5%, down 14% year-over-year); EPS at EUR 0.91.

• Operating cash flow dropped 74% year-over-year to EUR 73.2 million; free cash flow at EUR 23 million.

Outlook and guidance

• 2025 revenue guidance confirmed at EUR 8.0–8.3 billion, with comparable EBITDA/EBITA margin of 8.6–9%.

• Midterm 2027 targets reaffirmed: revenue EUR 9–10 billion, EBITDA/EBITA margin above 9%.

• No adverse impacts from tariffs or macroeconomic/geopolitical risks observed yet; guidance unchanged.