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ANDR Andritz AG News Story

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Andritz rises after order intake beat

** Andritz ANDR.VI shares rise around 5% after the Austrian industrial equipment maker's order intake in the third quarter beat market expectations

** Q3 order intake was 2.18 billion euros ($2.54 billion), beating consensus by 4% according to J.P Morgan, while revenue reached 1.89 billion euros, below expectations of 1.97 billion euros

** The orders beat was driven by a strong recovery in Pulp and Paper segment and Hydropower orders staying at elevated levels, JPM writes

** Andritz's revenue miss appears to be driven by the phasing of the backlog given the unchanged revenue outlook, the broker adds

** Up to the previous session's close, shares were up 27%​ YTD

($1 = 0.8575 euros)

 (Reporting by Tristan Veyet)

 ((Tristan.chabba@thomsonreuters.com))

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