The first figures from Andritz for the third quarter are well above expectations. The Austrians report a turnover of 1.67 billion euros. The Baader experts had expected 1.57 billion euros. The order intake is more than 1.7 billion euros. Here the analyst estimate stood at 1.5 billion euros. The EBITDA of 104 million euros is also well above the forecast 61.0 million euros. The profit of 50 million euros is also a positive surprise. The analysts assumed 24.9 million euros.
You therefore confirm the buy recommendation for Andritz shares. The price target of 42.00 euros will also be renewed.
From the analyst’s point of view, the share is clearly undervalued. The PER 2022e is 9.
With the numbers, Andritz increases its forecast. A fairly stable adjusted EBITA margin is now expected. This should stand at around 6.8 percent. The reported margin should be at the level of 2019 or slightly above. At that time, Andritz reported 5.1 percent.
Andritz shares are down 2.1 percent to 29.14 euros.