The group said project activities in all of its relevant markets were satisfactory and the outlook was for solid business development over the coming quarters based on the high order backlog at the end of H1.

The hydro power division showed ‘a favourable development’ in earnings over the six months compared to H1-’07. Sales in the period increased “significantly” compared to last time and order backlog was up.

Financial details of the performance at divisional level were not disclosed.

The group has also recently closed the acquisition of GE’s share of the ge-hydro Inepar (GEHI) joint venture and some other assets. andritz said the acquisitions should boost sales revenues by about US$300M and contributions would be recognised from the second half of the year.