Dear Stakeholders, Team Members, and Partners,
2024 was a year that tested all of us — industries, businesses, and individuals alike. Economic turbulence, from rising interest rates to shifting trade policies, presented challenges that demanded new ingenious approaches and solutions. Yet, as I look back on the past year, I am struck by how ANDRITZ has continued to adapt, innovate, and thrive, proving once again the strength of our team, our vision, and our values.
None of this would have been possible without the incredible dedication of our over 30,000 employees around the globe. They faced the past year’s uncertainties with creativity and resilience, finding new ways to meet customer needs and deliver results. I am deeply grateful to every member of our team for making 2024 another year to be proud of.
While we did not achieve the record revenues of 2023, we maintained solid profitability — a reflection of our careful cost management and our growing focus on services. Our achievements give me confidence that we are on the right track, even as we prepare for continued uncertainty in the year ahead.
Highlights of 2024
Some moments of the past year stand out as milestones that underscore what makes ANDRITZ unique. The start-up of the world’s largest pulp mill with a single eucalyptus pulp production line for Suzano in Brazil showcased extraordinary coordination and expertise. Our Metris X DCS industrial system launched with four tissue machines for Bracell, setting a new milestone for industrial automation. And the commissioning of India’s Pinnapuram pumped storage plant — a landmark in renewable energy storage — highlighted the vital role that hydropower continues to play in balancing other renewable energies. These achievements go beyond technology; they demonstrate how ANDRITZ is driving the future of sustainable industry through innovations.
Sustainability is a core focus in everything we do. While some industries slowed investments this year due to geopolitical and economic challenges, the interest in greener, more sustainable solutions has been growing. What truly heartened me this past year was the remarkable progress made by our engineers and researchers, whose technological advances in areas like green hydrogen and carbon capture through engineering studies reaffirmed our position at the forefront of innovation for a greener future. Seeing our teams tackle these challenges head-on, even in difficult times, has been inspiring.
Adapting to challenges
The past year also brought its fair share of difficulties. Europe’s markets, in particular, faced significant headwinds, while sectors like Metals and Pulp & Paper required tough decisions, including capacity adjustments and restructuring. These steps are never easy, but they are necessary to secure our long-term success. On the other hand, we saw exciting opportunities emerge in the Americas and parts of Asia, where growth is higher.
What has kept us strong through all of this is our global approach. Our decentralized structure and local-for-local philosophy give our teams the autonomy and speed they need to respond to challenges on the ground. Coupled with our focus on resilience — whether in supply chains or organizational flexibility — we have built a foundation that can withstand the unexpected and keeps ANDRITZ strong and nimble, 172 years after the company’s founding.
Looking ahead to 2025
As we look to 2025, our focus will be on staying ready for whatever comes next. That means doubling down on cost discipline and continuing to work in the areas of decarbonization, digitalization, and customer service. Internally, we will be fostering collaboration, openness, and the empowerment of our staff and leaders. These pillars are the backbone of how we deliver meaningful value to our customers.
Artificial intelligence is one area from which we expect a significant boost. It is already transforming how we work, improving our internal processes and making our Metris digitalization solutions smarter. It also shows the way forward in business, as recognized by the Microsoft Intelligent Manufacturing Award (MIMA) we received for our pioneering digital solutions enabling autonomous pulp mills. AI will play a growing role in helping us respond faster, work smarter, and deliver even greater value.
A shared vision for the future
We must remain ready for both challenges and opportunities. Even though the economic situation remains uncertain, we are following a proven plan: maintain cost discipline to navigate potential downturns while staying agile to act quickly if markets recover. This balance will allow us to adapt effectively and grow wherever opportunities arise.
Adaptability will remain a cornerstone of our success. The strategies we developed during recent crises — building flexibility into operations and strengthening supply chains — ensure we can navigate unpredictability while continuing to meet the needs of our customers.
Our mission is clear: support our customers in mastering and managing their green transition. Everything we do is for them, whether through pioneering technologies or excellent life-cycle services. At ANDRITZ, growth is not just about financial results; it’s about creating growth in many dimensions.
And that is what our people do, that is what enables them to deliver extraordinary results. Their dedication, ingenuity, and passion give me great confidence in our ability to thrive in the year ahead.
Thank you for your trust in ANDRITZ. Together, let’s make 2025 a year defined by resilience, innovation, and growth that matters.
Sincerely,
Joachim Schönbeck
President and CEO
