- Email: [email protected]
Crane Co, USA
COMPANY WATCH
Andritz AG, Austria
Crane Co, USA
Key Figures (E million) Third quarter ended 30.9 2009
2008
756.1
888.9
Sales Of Which: Hydro Order Intake Of Which: Hydro
308.2
253.6
278.7
771.7
Cost of Sales
349.0
408.5
324.0
242.9
Selling, General & Administrative
126.6
175.2
69.4
(18.7)
31.0
27.7
Net Income
29.0
38.0
13 176
13 225
5894
5505
Nine months ended 30.9 2009
2008
Sales Of Which: Hydro
2330.2
2538.9
987.4
798.8
Order Intake Of Which: Hydro
2554.9
2900.4
1378.5
1012.1
4514.5
4558.1
2969.2
2482.6
146.7
196.5
81.8
65.7
63.5
110.0
Net Income
589.3
337.0
69.9
EBITDA Of Which: Hydro
545.0
842.2
57.5
Order Backlog Of Which: Hydro
2008
Net Sales Of Which: Fluid Handling
EBITDA Of Which: Hydro Employees Of Which: Hydro
Key Figures (US$ million) Three months ended 31.12 2009
Operating Profit/(Loss) Of Which: Fluid Handling
33.5
33.1
Net Income/(Loss)
47.7
(8.3)
Year ended 31.12 2009
2008
Net Sales Of Which: Fluid Handling
2196.3
2604.3
1050.0
1161.9
Cost of Sales
1466.0
1751.0
Selling, General & Administrative
522.0
631.4
Operating Profit Of Which: Fluid Handling
208.3
197.5
132.2
159.4
Net Income
133.9
135.2
COMMENT
COMMENT Andritz’s Hydro business, which includes its pump activities, saw sales increase 9.3% in the third quarter of 2009 and 23.6% in the first three quarters of 2009. Third quarter order intake was up 33.4%, while order intake in the first nine months rose 36.2%.
January 2010
During the third quarter, 80 pumps were started up for a pulp mill in Hungary and 160 for a paper mill in the UK. Hydro also won a planning and engineering order for four large pumping stations for agricultural irrigation in India. ■ www.andritz.com
Fluid Handling’s fourth quarter 2009 sales fell 9% or US$25.1 million. This included a core sales decline of US$53.5 million (19%), partially offset by favourable foreign currency translation of US$13.2 million (5%) and sales from the acquired Krombach of US$15.2 million (5%). Sales declined in the company’s later-cycle, project-based energy, chemical, pharmaceutical and non-residential construction-related businesses. Fluid Handling’s operating profit, before Special Items, decreased 7% as broad-based cost reduction efforts largely offset a 19% core sales decline. Profit margins, before Special
Items, increased to 14.2% from 2008’s 13.9%. Fluid Handling’s order backlog stabilized in the past three quarters at approximately US$250 million. Backlog was US$250 million at 31 December 2009, US$252 million at 30 September 2009, and US$257 million at 30 June 2009, compared with US$303 million at 31 December 2008. “Our strategy to continue focusing on winning in the marketplace, while substantially reducing our cost base and improving cash flow is reading through,” said Crane president and CEO Eric Fast. ■ www.craneco.com
Pump Industry Analyst
7
Andritz AG, Austria
Crane Co, USA
Key Figures (E million) Third quarter ended 30.9 2009
2008
756.1
888.9
Sales Of Which: Hydro Order Intake Of Which: Hydro
308.2
253.6
278.7
771.7
Cost of Sales
349.0
408.5
324.0
242.9
Selling, General & Administrative
126.6
175.2
69.4
(18.7)
31.0
27.7
Net Income
29.0
38.0
13 176
13 225
5894
5505
Nine months ended 30.9 2009
2008
Sales Of Which: Hydro
2330.2
2538.9
987.4
798.8
Order Intake Of Which: Hydro
2554.9
2900.4
1378.5
1012.1
4514.5
4558.1
2969.2
2482.6
146.7
196.5
81.8
65.7
63.5
110.0
Net Income
589.3
337.0
69.9
EBITDA Of Which: Hydro
545.0
842.2
57.5
Order Backlog Of Which: Hydro
2008
Net Sales Of Which: Fluid Handling
EBITDA Of Which: Hydro Employees Of Which: Hydro
Key Figures (US$ million) Three months ended 31.12 2009
Operating Profit/(Loss) Of Which: Fluid Handling
33.5
33.1
Net Income/(Loss)
47.7
(8.3)
Year ended 31.12 2009
2008
Net Sales Of Which: Fluid Handling
2196.3
2604.3
1050.0
1161.9
Cost of Sales
1466.0
1751.0
Selling, General & Administrative
522.0
631.4
Operating Profit Of Which: Fluid Handling
208.3
197.5
132.2
159.4
Net Income
133.9
135.2
COMMENT
COMMENT Andritz’s Hydro business, which includes its pump activities, saw sales increase 9.3% in the third quarter of 2009 and 23.6% in the first three quarters of 2009. Third quarter order intake was up 33.4%, while order intake in the first nine months rose 36.2%.
January 2010
During the third quarter, 80 pumps were started up for a pulp mill in Hungary and 160 for a paper mill in the UK. Hydro also won a planning and engineering order for four large pumping stations for agricultural irrigation in India. ■ www.andritz.com
Fluid Handling’s fourth quarter 2009 sales fell 9% or US$25.1 million. This included a core sales decline of US$53.5 million (19%), partially offset by favourable foreign currency translation of US$13.2 million (5%) and sales from the acquired Krombach of US$15.2 million (5%). Sales declined in the company’s later-cycle, project-based energy, chemical, pharmaceutical and non-residential construction-related businesses. Fluid Handling’s operating profit, before Special Items, decreased 7% as broad-based cost reduction efforts largely offset a 19% core sales decline. Profit margins, before Special
Items, increased to 14.2% from 2008’s 13.9%. Fluid Handling’s order backlog stabilized in the past three quarters at approximately US$250 million. Backlog was US$250 million at 31 December 2009, US$252 million at 30 September 2009, and US$257 million at 30 June 2009, compared with US$303 million at 31 December 2008. “Our strategy to continue focusing on winning in the marketplace, while substantially reducing our cost base and improving cash flow is reading through,” said Crane president and CEO Eric Fast. ■ www.craneco.com
Pump Industry Analyst
7