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Sales of the Rolling Mills and Strip Processing Lines Business Area in 2003 were 173.1 MEUR, a slight decline of 2.4% compared to the previous year (2002: 177.4 MEUR). However, the execution of many projects only started in the second Quarter of 2003 with a rather low level of work in progress, translating only partly into Sales.
EBITDA for 2003 slipped to 6.6 MEUR, a decline of 40.5% compared to 2002 (11.1 MEUR). The main reasons for this development were on the one hand the extraordinarily high reference value of last year, on the other hand start-up losses by Selas, a company Andritz acquired in 2002, low capacity utilization in one of the Business Area’s product segments during the first Half of 2003, and lower margins for two projects introducing new technologies to the market for mixed acid recovery.
The Business Area’s Order Intake in 2003 developed very favorably, reaching a record level in the Group’s history. At 287.6 MEUR, it improved by 63.7% compared to 2002 (175.7 MEUR). The main portion of the Order Intake came from China, where Andritz was able to win important reference orders from renowned customers during the reporting period, thus confirming its position as one of the leading systems suppliers for the international stainless steel industry.
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