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ANDRITZ: Results for the first quarter of 2009 are in

May 13, 2009

According to a May 7, 2009 press release, the international technology Group ANDRITZ increased its sales during the first quarter of 2009 in comparison with last year’s reference period, but in the face of the difficult economic environment, earnings were down slightly, especially in the PULP & PAPER business area. Order intake was lower than the previous year’s high reference value. The Group’s order backlog, at approx. 4.5 billion Euros as of March 31, 2009, was solid and further increased compared to the value as of end of December 2008. The ANDRITZ GROUP continues to expect its sales to decline by about 15% in the full year 2009 and its net income also to decrease versus the financial year 2008.

Sales increase
The ANDRITZ GROUP’S sales during the first quarter of 2009 amounted to 790.1 million EUR, an increase of 5.2% compared to the reference quarter of last year (Q1 2008: 750.9 million EUR). The HYDRO, METALS, and ENVIRONMENT & PROCESS business areas achieved increases in their sales compared to the previous
year. Sales of the PULP & PAPER business area declined compared to last year’s reference period, in particular due to the weak capital and modernization business as a result of the global economic weakness.

Earnings below the last year’s reference values
The ANDRITZ GROUP’S EBITA during the first quarter of 2009 amounted to 43.7 million EUR, a slight decrease of 4.0% compared to the reference quarter of last year (Q1 2008: 45.5 million EUR). As a consequence, the GROUP’S EBITA margin decreased to 5.5% (Q1 2008: 6.1%). This was mainly due to the significant decline in the earnings of the PULP & PAPER business area, resulting from lower sales and lower capacity utilization, especially in the capital investment business. However, the HYDRO and the ENVIRONMENT & PROCESS business areas’ earnings increased in comparison to the first quarter of 2008.

ANDRITZ confirms its sales and earnings guidance for the financial year 2009 published with the financial figures for 2008 and expects sales to decline by approx. 15% and the net income to decrease in comparison to 2008. ‛The difficult overall economic environment hasn’t changed during the past few months. The
likelihood of project realizations and therefore the development of the order intake are very difficult to assess, especially in the PULP & PAPER und METALS business areas. For the HYDRO business area, we expect the good development to continue’, says Wolfgang Leitner, President & CEO of ANDRITZ AG, and adds:
‛Already in 2008, we started to adapt our capacities in some areas, and therefore, from today’s point of view, we are well equipped for this difficult environment.