Andritz stock weighs record backlog against mixed order trends

ANDRITZ reported strong third-quarter operating figures on October 29, 2026, while the record order backlog increased visibility for future sales. Andritz stock traded at 83.80 euros on Lang & Schwarz at 10:47 CET on Tuesday, November 10, 2026, 1.45 percent above the Xetra close of Monday, November 9. The comparison uses the 82.60-euro Xetra close for the previous session.

Growth Broadens Across Key Divisions

Revenue rose 9.2 percent year over year to 2,059.6 million euros in the third quarter, according to ANDRITZ's Q3 2026 results release. Comparable EBITA increased 10.3 percent to 184.9 million euros, while the comparable EBITA margin edged up to 9.0 percent from 8.9 percent a year earlier. Net income, including non-controlling interests, rose 14.4 percent to 127.3 million euros.

Hydropower provided the strongest divisional growth impulse. Its order intake increased 34.2 percent to 703.9 million euros and revenue climbed 25.4 percent. Metals order intake gained 20.8 percent to 357.4 million euros. Pulp & Paper order intake fell 24.5 percent to 706.8 million euros after an unusually strong prior-year quarter, although divisional revenue still advanced 8.8 percent.

Backlog Supports The 2026 Outlook

Order intake reached 2,166.2 million euros in the quarter, slightly below the year-earlier figure of 2,180.0 million euros but above two billion euros for the eighth consecutive quarter. In the first nine months, order intake rose 17.1 percent to 8,085.9 million euros.

The order backlog stood at 12,729.1 million euros on September 30, a company record and 21.7 percent above the level at the end of 2025. The backlog gives ANDRITZ a substantial base for future revenue, but the next test is converting those orders into profitable growth while protecting margins across divisions.

Chief Executive Joachim Schönbeck said the group would continue turning its strong backlog into profitable growth. Management kept its 2026 forecast for revenue of 8.0 billion to 8.3 billion euros and a comparable EBITA margin of 8.7 percent to 9.1 percent. The company also retained its medium-term ambition of 10 billion euros in revenue and a 10 percent comparable EBITA margin by 2029.

Investors Focus On Execution

For shareholders, the results combine stronger sales and earnings with mixed order trends between business areas. Hydropower and Metals are supporting demand, while the weaker Pulp & Paper order intake creates a tougher comparison for the next periods. The record backlog improves revenue visibility, but project execution and margin discipline remain central to the investment case.

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