facts and figures 2019 - andritz group · 4 hydro / facts and figures 2019 consolidated balance...

HYDRO

FACTS AND FIGURES 2019

ANDRITZ HYDRO GmbH

HYDRO / Facts and figures 20192

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ANDRITZ HYDRO 3

CONSOLIDATED BALANCE SHEET 4

CONSOLIDATED INCOME STATEMENT 5

CHANGES IN INTANGIBLE AND TANGIBLE ASSETS

6

CONSOLIDATED CASH FLOW STATEMENT

7

LIST OF CONSOLIDATED SUBSIDIARIES 8

COMPANY BOARDS AND DIVISIONS 9

ANDRITZ HYDRO – AROUND THE WORLD

10

Bhumibol, Thailand

HYDRO / Facts and figures 2019 3

ANDRITZ is one of the leading global suppliers of pumped storage technology. As a hybrid solution in combination with wind and/or solar, it offers a perfect opportunity to balance the grids. An additional possibility to compensate the volatile impact inside the electrical grids are the application of syn-chronous condensers.

Today, geological, technical or legal restrictions can limit the eco-nomical operation of a hydropower plant. The digital Metris DiOMera platform, developed by ANDRITZ, offers a possible solution to reduce expenditures in parallel with the improvement of operation and increasing of results. A different approach is provided by HyBaTec, also developed by ANDRITZ. As a tailor-made hybrid solution, it is combining a battery storage system with generating unit sets. HyBaTec can reduce the mechan-ical stress of the units, extend the lifetime of the components and of-fers new possibilities to participate in the short-term energy market by providing higher flexibility.

The growing demand for “base load renewables”, the shut-down of conventional fossil-based generating units, and the increasing aging of the existing hydropower fleet are posing new challenges for the entire energy market. In parallel, the amount of volatile wind and solar plants is also increasing. New strategies for successful hydro asset management and operation for existing as well as new hydropower plants are needed.

Global investment and project activity for electro-mechanical equipment for hydropower plants continued at a moderate level during the first quarter of the year 2020. Many modernization and rehabilitation projects for hydropower stations have been postponed or stopped for the time being. Orders to supply equipment for new hydropower plants were selectively awarded. Solid project activity could be observed in the pumps sector.

ANDRITZ HydroANDRITZ Hydro is one of the globally leading suppliers of electro-mechanical equipment and services for hydropower plants. With over 175 years of experience and an installed fleet of more than 430 Gigawatt output, the business area provides complete solutions for hydropower plants of all sizes as well as services for plant diagnosis, refurbishment, modernization and upgrade of existing hydropower assets. Pumps for irrigation, water supply and flood control as well as turbo generators are also part of this business area’s portfolio.

The key figures shown on the left refer to the Hydro business area of the ANDRITZ GROUP, and the figures provided on the following pages refer to the consolidated financial statements (according to IFRS) of the ANDRITZ Hydro companies owned directly by ANDRITZ HYDRO GmbH.

IN MILLION EUROS (ACCORDING TO IFRS)

Order intake

Sales

Order backlogas of December 31st

2018

1,445.8

2,667.9

1,517.5

2,661.0

1,350.2

1,470.7

2019

2017

1,583.1

2,921.8

1,317.2


Consolidated balance sheetas of December 31st, 2019ANDRITZ Hydro GROUP

(in TEUR) Dec 31st, 2019 Dec 31st, 2018Assets

Intangible assets 856 1,124

Goodwill 95,541 95,541

Property, plant and equipment 128,119 123,076

Shares in affiliated companies 207,073 207,630

Other Investments 65,670 95,677

Fixed and financial assets 497,259 523,048Other long-term receivables 9,433 11,539

Deferred tax assets 41,080 49,900

Non-current assets 547,772 584,487

Inventories 72,754 75,089

Advance payments made 15,755 13,612

Trade accounts receivable 174,127 177,627

Contract assets 236,701 233,522

Receivables from affiliated companies 507,094 383,926

Receivables for current taxes 10,369 9,570

Other receivables 143,743 119,373

Investments 94,791 174,740

Cash and cash equivalents 207,630 217,346

Assets held for sale 5,762 0

Current assets 1,468,726 1,404,805

Total assets 2,016,498 1,989,291

Shareholders’ equity and liabilitiesShare capital 1,000 1,000

Capital reserves 78,465 78,465

Retained earnings 233,534 200,964

Equity attributable to shareholders of the parent 312,999 280,429

Minority interests 137,669 142,320

Total shareholders’ equity 450,667 422,749

Bank loans 4,166 4,922

Lease liabilities 9,512 0

Provisions 127,643 157,939

Other liabilities 5,058 7,224

Liabilities for deferred taxes 17,445 10,535

Non-current liabilities 163,824 180,620

Bank loans 78,146 78,996

Lease liabilities 7,336 0

Trade accounts payable 86,517 94,050

Contract liabilities recognized overtime 205,295 247,993

Contract liabilities recognized at a point in time 38,234 41,590

Provisions 119,715 145,673

Liabilities for current taxes 2,133 16,655

Liabilities to affiliated companies 650,256 549,837

Other liabilities 214,375 211,128

Current liabilities 1,402,007 1,385,922

Total Shareholders’ equity and liabilities 2,016,498 1,989,291


(in TEUR) 1-12/2019 1-12/2018Sales 953,999 1,017,069Cost of goods sold -772,701 -817,961

Gross profit 181,298 199,108

Other operating income 9,144 35,728

Marketing and sales expenses -51,967 -55,368

Administration expenses -35,471 -39,326

Research and development expenses -16,936 -16,964

Other operating expenses -11,708 -14,405

Result from operating activities (EBIT) 74,360 108,773

Investment result 15,702 22,215

Interest result -144 2,045

Financial result 15,558 24,260

Earnings before taxes (EBT) 89,918 133,033

Income taxes -9,168 -29,355

Net income 80,749 103,678

Thereof attributable to:

Shareholders of the parent company 76,611 91,688

Non-controlling interest 4,138 11,990

Consolidated income statement 2019ANDRITZ Hydro GROUP


(in TEUR)Intangible

assets GoodwillLand and buildings

Technical equipment

and machinery

Other equipment,

factory and office

equipment

Assets in course of

construction and advance

payments made

Property, plant and

equipmentBalance as of December 31, 2017 9,602 103,873 83,077 120,819 52,410 2,268 258,574Additions 381 0 23,107 9,542 3,236 1,422 37,307

Disposals -1,027 0 627 1,118 -2,145 0 -400

Reclassification 0 0 291 1,142 493 -1,926 0

Currency translation adjustments -133 0 -767 -2,715 -1,268 0 -4,750

Balance as of December 31, 2018 8,823 103,873 106,335 129,906 52,726 1,764 290,731

Change in accounting policies 0 0 18,149 614 1,872 0 20,635

Additions 146 0 1,781 4,673 4,709 1,486 12,649

Disposals -126 0 -1,825 -1,079 -2,698 -3 -5,605

Reclassification 63 0 1,062 -517 1,029 -1,637 -63

Currency translation adjustments -6 0 340 553 -74 21 840Reclassification as held for sale 0 0 -2,786 -11,369 0 0 -14,155

Balance as of December 31, 2019 8,900 103,873 123,056 122,781 57,564 1,631 305,032

Changes in intangible and tangible assets 2019ANDRITZ Hydro GROUP

COSTS

Balance as of December 31, 2017 8,312 8,332 34,320 79,897 39,080 0 153,297Additions 521 0 2,910 9,952 3,842 0 16,704

Disposals -1,027 0 709 1,186 -1,866 0 29

Reclassification 0 0 0 0 0 0 0

Currency translation adjustments -106 0 119 -1,609 -885 0 -2,375

Balance as of December 31, 2018 7,700 8,332 38,058 89,426 40,171 0 167,655

Additions 452 0 6,813 8,283 5,044 0 20,140

Disposals -125 0 -195 -736 -2,441 0 -3,372

Reclassification 23 0 432 -559 104 0 -23

Currency translation adjustments -6 0 321 462 -9 0 774

Reclassification as held for sale 0 0 0 -8,260 0 0 -8,260

Balance as of December 31, 2019 8,044 8,332 45,429 88,616 42,869 0 176,914

ACCUMULATED DEPRECIATION

Balance as of December 31, 2018 1,123 95,541 68,277 40,480 12,555 1,764 123,076Balance as of December 31, 2019 856 95,541 77,627 34,165 14,695 1,631 128,119

NET BOOK VALUE


Consolidated cash flow statement 2019ANDRITZ Hydro GROUP

(in TEUR) 2019 2018Earnings before taxes (EBT) 89,918 133,032Depreciation, write-ups and amortization of fixed assets 20,592 17,225

Changes in non-current provisions -28,528 -69,377

Results from the disposal of fixed assets 147 -94

Result from disposal and revaluation of financial assets 1,923 -1,440

Taxes paid -14,825 -28,762

Gross cash flow 69,227 50,583

Changes in inventories 2,335 528

Changes in advance payments made -2,143 4,451

Changes in receivables, prepayments and deferred charges -23,164 -15,739

Changes in current provisions -25,958 -17,304

Changes in liabilities and deferred income -40,919 -115,510

Cash flow from operating activities -20,623 -92,991

Payments received for asset disposals 2,087 523

Payments made for investments in fixed tangible and intangible assets -12,795 -37,688

Payments made/received for investments in financial assets -1,359 19,415

Payments made/received from investments in loans against borrowers´ notes 0 20,000

Payments made/received for short-term financial investments 79,949 63,689

Cash flow from investing activities 67,881 65,939

Payments made to shareholders -52,389 -76,974

Changes in interest bearing receivables/borrowings -1,698 72,757

Cash flow from financing activities -54,087 -4,217

Change in cash and cash equivalents -6,828 -31,269

Change in cash and cash equivalents resulting from exchange rate fluctuations -2,888 -2,106

Cash and cash equivalents at the beginning of the period 217,346 250,721

Cash and cash equivalents at the end of the period 207,630 217,346


Ownership interestAffiliated companies Registered office Country direct indirect

Andritz Deutschland Beteiligungs GmbH Krefeld Germany 31%

ANDRITZ HYDRO GmbH Ravensburg Germany 31%

ANDRITZ HYDRO India Private Limited Mandideep India 85% 5%

PT. ANDRITZ HYDRO Jakarta Indonesia 51%

ANDRITZ HYDRO AG Kriens Switzerland 100%

ANDRITZ HYDRO AS Jevnaker Norway 100%

ANDRITZ HYDRO Beteiligungsholding GmbH Graz Austria 100%

ANDRITZ HYDRO Brasilien Beteiligungsges.mbH Graz Austria 100%

ANDRITZ HYDRO Ltda. Barueri Brazil 4% 96%

ANDRITZ CONSTRUÇÕES E MONTAGENS Ltda. Santana do Parnaíba Brazil 100%

ANDRITZ HYDRO Limitada Bogotá Colombia 100%

ANDRITZ HYDRO Ltd. Sti. Izmir Turkey 100%

ANDRITZ HYDRO S.A. de C.V. Morelia Mexico 100%

ANDRITZ HYDRO S.A.S Fontaine Cedex France 100%

ANDRITZ HYDRO S.r.l. Schio Italy 100%

ANDRIZT HYDRO S.L. Madrid Spain 100%

ANDRITZ HYDRO Hammerfest AS Hammerfest Norway 100%

ANDRITZ HYDRO Hammerfest (UK) Ltd. Glasgow Scotland 100%

ANDRITZ O&M Privat Ltd. New Delhi India 100%

List of consolidated subsidiariesANDRITZ Hydro GROUP


MANAGING BOARD• Dr. Harald Heber• Mag. Gerhard Kriegler

(since 01.01.2020)• Dipl.-Ing. Wolfgang Semper

SUPERVISORY BOARD• Dr. Wolfgang Leitner, Chairman• Heinz Norbert Nettesheim

(since 01.12.2019)• Dipl.-Ing. Friedrich Papst, Vice-Chairman

• Dipl.-Ing. Dr. Franz Strohmer (until 28.02.2019)

• Dipl.-Ing. Mark von Laer (until 30.11.2019)

• Jörg Taucher• Ing. Ole-Christian Wolff

Company boards and divisions

LARGE HYDRO COMPACT HYDRO

SERVICE & REHAB PUMPS

ANDRITZ HYDRO DIVISIONS


ANDRITZ HYDRO worldwide

More than

175 years’ experience in turbine design

More than

120 years’experience in electrical engineering

12 test benchesworldwide

More than

32,000 turbine units delivered

More than

430,000 MW of installed and modernized power capacity from ANDRITZ Hydro

65 locationsaround the world

Countries with ANDRITZ Hydro locations

Countries with ANDRITZ Hydro presence


12 test benchesworldwide

More than

32,000 turbine units delivered

4,278 TWh/year worldwide annual hydropower generation

15,800 TWh/year global hydropower potential

About

7,200 employees worldwide

20 manufacturing locations

Complete design range up to

800 MW

More than

100 Compact Hydro units per year

FIND YOUR LOCAL CONTACT

ANDRITZ HYDRO [email protected]

ANDRITZ.COM/HYDRO

AH.ZF2019.01.en.07.20

All data, information, statements, photographs and graphic illustrations in this brochure are without any obligation and raise no liabilities to or form part of any sales contracts of ANDRITZ GROUP or any affiliates for equipment and/or systems referred to herein. All rights reserved. No part of this copyrighted work may be reproduced, modified or distributed in any form or by any means, or stored in any database or retrieval system without the prior written permission of ANDRITZ HYDRO GmbH or its affiliates. Any such unauthorized use for any purpose is a violation of the relevant copyright laws. © 2019 ANDRITZ HYDRO GmbH, Eibesbrunnergasse 20, 1120 Vienna, Austria.

facts and figures 2019 - andritz group · 4 hydro / facts and figures 2019 consolidated balance...

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