Andritz (ANDR) Q2 2026 earnings summary

Executive summary

• Achieved record order backlog of €12.6 bn, up 21% year-over-year, with strong project activity and robust business model.

• Revenue grew 8% year-over-year in Q2 2026 to €2.1 bn, with accelerating growth and strong Service business performance.

• Comparable EBITA rose 15% to €182 mn, with margin expansion to 8.9% in Q2 2026.

• Net income increased 7% year-over-year to €109 mn in Q2 2026.

• Guidance for full-year 2026 and mid-term 2027 targets confirmed.

Financial highlights

• H1 2026 order intake reached €5.9 bn, up 25% year-over-year.

• H1 2026 revenue was €3.8 bn, up 5% year-over-year.

• H1 2026 comparable EBITA margin improved to 8.6%.

• Operating cash flow in H1 2026 increased 72% to €291 mn.

• Net liquidity rose 15% to €593 mn.

Outlook and guidance

• 2026 revenue expected at €8.0–8.3 bn, with comparable EBITA margin of 8.7–9.1%.

• Mid-term 2027 targets: revenue €9–10 bn, comparable EBITA margin above 9%.

• Project activity and order intake expected to remain at high levels, supported by strong backlog and demand for service and green technologies.

• No major M&A required to reach 2027 targets; small M&A remains part of the business model.

• Risks include potential deterioration in macroeconomic/geopolitical environment, increased trade barriers, or significant euro appreciation.