Andritz AG Q3 2026 Earnings Recap

Andritz posted higher revenue and profit in Q3, while order intake remained above €2 billion for an eighth consecutive quarter. The shares fell 0.4% after the results, a broadly flat reaction; the quarter also included softer Environment & Energy orders and a margin decline there due to higher project costs and learning-curve effects.

Key Takeaways

• Order intake was €2.2 billion, roughly level with Q3 2025; book-to-bill stayed above 1, and the backlog reached a record €12.7 billion.
• Revenue rose 9% to €2.1 billion. EBITDA increased 10% to €185 million on a comparable basis; reported EBITDA was €176 million, and net income rose 14% to €127 million.
• Hydropower and Metals drove order growth: Q3 intake increased 34% and 21%, respectively. Environment & Energy intake declined 6% in the quarter and 10% in the first nine months.
• Environment & Energy saw a slight margin decline from higher project costs and green-project learning-curve effects. Management also cited a flat quarter for Metals revenue and a Q3 drop in Pulp & Paper orders after three large orders in the year-ago quarter.
• Operating cash flow was €320 million, up 121% year over year, and net liquidity reached €844 million. The company confirmed its 2026 guidance and medium-term financial targets.