Austria's Andritz Q1 core profit tops forecast
May 4 (Reuters) - Austrian engineering group Andritz's first-quarter core profit rose 14 percent, beating analysts' estimates, as strong activity in its pulp and paper business offset weakness in metals projects.
The company, which forecast a slight decline in full-year sales, said on Wednesday several projects in hydropower and metals had been stopped temporarily or delayed due to uncertain demand.
The Graz-based group reported a 13 percent fall in order intake and 9 percent drop in sales in the quarter.
The company reported earnings before interest, tax and amortisation (EBITA) of 83.9 million euros ($96.3 million) in the three months ended March 31. Analysts polled by Reuters had on average expected 81.1 million euros.
($1 = 0.8710 euros) (Reporting by Sylwia Lasek and Kirsti Knolle; Editing by Mark Potter)
