Corrected: Andritz sets 2029 targets betting on electrification, AI-driven demand

Andritz AG

06/10/2026 07:02

Corrects headline and paragraph 1 to say new targets are for 2029, not 2030
Oct 6 (Reuters) - Industrial equipment maker Andritz ANDR.VI set new medium-term targets on Tuesday, aiming for revenue of €10 billion ($11 billion) and a comparable core profit margin of 10% by 2029, as it expects electrification and AI expansion to drive demand.
"The group sees particularly attractive long-term opportunities arising from the energy transition and growing global electricity demand, as well as the rapid development of digitalization, automation, and AI," the Austrian company said in a statement.
Andritz had in July confirmed its previous mid-term goals for revenue of between €9 billion and €10 billion and a comparable core profit margin, or the proportion of earnings before interest, taxes, depreciation and amortisation to sales, of more than 9% by 2027.
($1 = €0.8924)

(Reporting by Danny Callaghan in Gdansk, editing by Milla Nissi-Prussak)
((Email: danny.callaghan@thomsonreuters.com))