March 4, 2020 / 6:37 AM / a month ago

BRIEF-Andritz FY EBITA Dropped Significantly To EUR 343.2 Mln

March 4 (Reuters) - Andritz AG:

* FY NET INCOME FELL SIGNIFICANTLY COMPARED TO 2018

* FY SALES AMOUNTED TO 6,673.9 MEUR AND REACHED A NEW RECORD HIGH

* FY EBITA DROPPED SIGNIFICANTLY TO 343.2 MEUR (2018: 394.3 MEUR)

* FY FINANCIAL RESULT DROPPED TO -57.0 MEUR (2018: -17.4 MEUR)

* FY NET INCOME (WITHOUT NON-CONTROLLING INTERESTS) DECLINED SIGNIFICANTLY TO 127.8 MEUR (2018: 222.0 MEUR)

* GLOBAL ECONOMIC ENVIRONMENT REMAINS CHALLENGING AND HIGHLY UNCERTAIN AS A RESULT OF OUTBREAK OF COVID- 19

* EXPECTS A SLIGHT INCREASE IN SALES FOR FULL YEAR OF 2020 AND AN UNCHANGED OPERATING RESULT BEFORE EXTRAORDINARY EFFECTS (EBITA) COMPARED TO 2019

* UNCHANGED GOOD PROFITABILITY DEVELOPMENT IS EXPECTED FOR HYDRO AND SEPARATION IN 2020

* IF GLOBAL ECONOMY SUFFERS SEVERE SETBACKS UNEXPECTEDLY IN 2020, THIS COULD HAVE A NEGATIVE IMPACT ON ANDRITZ'S BUSINESS DEVELOPMENT

* IMPACT OF COVID-19 VIRUS NOT TAKEN INTO CONSIDERATION IN CURRENT SALES AND EARNINGS GUIDANCE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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