Andritz reports Q3 FY20 revenue of €1,670 mn

05 Nov '20

1 min read

Pic: Andritz

Andritz, an Austrian-based international technology group, has reported 1.2 per cent revenue decrease to €1,669.7 million in its third quarter (Q3) FY20 ended on September 30, 2020 compared to sales of €1,690.2 million in the same period last fiscal. Order intake during the quarter fell 18.4 per cent to €1,708.0 million (Q3 FY19: €2,093.9 million).

“We are very pleased with business development in the first three quarters. Thanks to the great commitment by our employees around the world in conjunction with cost discipline, we have been able to master the many challenges caused by the Covid-19 crisis very well so far,” Wolfgang Leitner, president and CEO of Andritz, said in a press release.

Sales of pulp & paper segment jumped 13.5 per cent during the quarter to €851.7 million (€750.6 million). Metals sales slipped 17.0 per cent to €350.8 million (€422.7 million).

Order intakes of pulp & paper segment for Q3 FY20 were down 18.4 per cent to €1,708.0 million (€2,093.9 million). Whereas, metals sales decreased 17.3 per cent to €354.6 million (€429.0 million).

Company’s EBITDA rose to €104.2 million (€6.4 million). Net income for the quarter increased to €52.4 million (€31.0 million).

Fibre2Fashion News Desk (JL)

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