Andritz (ANDR) Q4 2024 earnings summary

Executive summary

• Achieved record Q4 2024 order intake, with strong contributions from pulp & paper and hydropower, and service business reaching an all-time high 41% revenue share.

• Net income for the year was nearly EUR 500 million, with a record net income margin of 6%.

• Revenue and order intake declined slightly year-over-year, but margins remained stable despite challenging market conditions.

• Proposed dividend increase to EUR 2.60 per share, maintaining a payout ratio above 50%.

• Acquisition strategy advanced with purchases in digitalization and decarbonization, including Procemex, HydrogenPro, LDX Solutions, and others.

Financial highlights

• FY 2024 order intake: EUR 8.3 billion (-3% y/y); revenue: EUR 8.3 billion (-4% y/y); Q4 order intake: EUR 2.5 billion (+24% y/y).

• Comparable EBITDA/EBITA margin for FY 2024: 8.9%; reported margin: 8.6%.

• Free cash flow reached EUR 399 million; operating cash flow EUR 637 million; net liquidity above EUR 900 million.

• Service revenue share at 41%, with service revenues at EUR 3.4 billion (+8% y/y).

• Equity ratio increased to 27.9%, supporting dividend and future investments.

Outlook and guidance

• 2025 revenue guidance: EUR 8.0–8.3 billion; comparable EBITDA/EBITA margin: 8.6–9%.

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

• Guidance now based on comparable EBITDA/EBITA margin to better reflect underlying performance.

• Project activity expected to pick up, with continued growth in Service and demand for green technologies.