Austrian high-technology machinery maker Andritz AG (ANDR.VI) Friday said its first-quarter 2010 net profit rose 13%, helped primarily by cost cuts and a stronger hydropower projects business.

For 2010, Andritz reiterated it expects sales to come in flat against 2009, or slightly above, while the cost cuts and restructuring measures implemented in 2009 should help generate higher profit.

Andritz's first-quarter net profit rose to EUR28.9 million, from EUR25.7 million a year earlier, as a reduction in costs managed to offset a drop in overall company sales of 7.3%.

Sales fell to EUR732.3 million in the quarter, from EUR790.1 million a year earlier, driven down by weaker demand in its metals and green solutions businesses.

Sales in its hydropower business segment rose 10% to EUR349 million, Andritz said.

The company's key earnings indicator, earnings before interest, taxes and amortization, or Ebita, came in flat against the year-earlier quarter, at EUR43.7 million, corresponding to a margin of 6%, up from 5.5% in the first quarter of 2009.

Company Web site: www.andritz.com

-By Flemming E. Hansen, Dow Jones Newswires; +43 1 513 69 22 10; flemming.hansen@dowjones.com
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