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Andritz Q2 FY20 sales up 5.7% to €1,663 mn

Jul '20
Pic: Andritz
Pic: Andritz
Andritz , an Austrian-based international technology group, has reported 5.7 per cent sales growth to €1,662.8 million in its second quarter (Q2) FY20 ended on June 30, 2020 compared to sales of €1,573.2 million in same period last year. However, order intake during the quarter were down 42.2 per cent to €1,183.8 million (Q2 FY19: €2,047.1 million).
“All of our business areas have been and still are being affected by the weakness of the global economy albeit to different extents. We introduced cost-saving measures at the right time and were able to largely cushion the negative effects of the crisis as a result,” Wolfgang Leitner, president and CEO of Andritz, said in a press release. 
Net income for Q2 FY20 increased to €53.4 million (€43.9 million). EBITA for the quarter were €104.2 million.
Sales of pulp and paper during Q2 FY20 rose 24.7 per cent to €882.3 million (€707.6 million). Metals sales were down 7.5 per cent to €343.0 million (€370.9 million). Hydro sales slipped 14.2 per cent to €289.4 million (€337.2 million).

Fibre2Fashion News Desk (JL)

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