Andritz (ANDR) Q3 2026 earnings summary

Executive summary

• Q3 order intake was €2,166.2M, the eighth consecutive quarter above €2B; Q1–Q3 book-to-bill was 1.4 and backlog reached a record €12,729.1M.

• Q3 revenue rose 9.2% to €2,059.6M; comparable EBITA increased 10.3% to €184.9M, with a 9.0% margin.

• Q1–Q3 revenue grew 6.5% to €5,900.9M; comparable EBITA was €514.6M at an 8.7% margin.

• FY 2026 guidance was reaffirmed; 2029 targets are €10B revenue and a 10% comparable EBITA margin.

Financial highlights

• Q3 reported EBITA was €175.9M; net income including non-controlling interests rose 14.4% to €127.3M.

• Q1–Q3 reported EBITA was €488.1M; EBITDA reached €627.3M, up 8.6%, and net income rose 8.4% to €328.3M.

• Q1–Q3 operating cash flow was €610.6M versus €313.5M; free cash flow was €411M versus €115M.

• Q3 operating cash flow increased to €319.8M from €144.8M; Q1–Q3 operating net working capital fell to €761.1M.

• Q1–Q3 basic EPS was €3.33 versus €3.10; Q3 basic EPS rose 13.2% to €1.29.

Outlook and guidance

• FY 2026 revenue guidance remains €8.0B–€8.3B and comparable EBITA margin guidance 8.7%–9.1%; project activity is expected to remain high.

• Management indicated a good prospect of reaching the upper end of revenue guidance, with confidence around the midpoint of the margin range.

• 2029 targets are €10B revenue and a 10% comparable EBITA margin, within a 9%–11% range.

• Growth priorities include organic expansion in Capital and Service, disciplined bolt-on M&A, digitalization, automation, improved project execution and productivity.