July 31, 2020 / 6:08 AM / 7 days ago

Andritz sees flat 2020 profit as order intake slumps in Q2

VIENNA, July 31 (Reuters) - Engineering group Andritz said on Friday it expects 2020 sales to fall slightly and profitability to remain largely at last year’s level as orders come in slow amidst the global economic crisis.

Order intake was down 42.2% and the order backlog at the end of the second quarter was 4.2% lower than last year, the Austrian group said.

Profit and sales in the April-June period still increased.

The supplier of plants and systems to the pulp and paper, auto and metal manufacturing industries said adjusted earnings before interest, tax and amortisation (EBITA) rose 10% to 104.2 million euros ($123.9 million) and sales increased 5.7% to 1.66 billion euros.

$1 = 0.8413 euros Reporting by Kirsti Knolle; editing by Thomas Seythal

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