Food and Medical net sales rose 13.9% to $138 million.The increase was due to the higher volumes of food packaging materials and medical drapes applications as well as increased selling prices. Further price increases have been announced to cover increased raw materials costs.
Home and Personal net sales increased 19.5% to $117 million. The increase was driven by higher volumes, particularly in Europe, as well as increased selling prices. Further price increases have been announced to cover increased raw material costs.
Jan Lång, president/CEO said, “ Our development continued to be positive in the first quarter despite of the persisting raw material cost inflation. Nevertheless, we managed to improve our profitability. Active management of the supply chain cost base, notably in manufacturing and sourcing, improved our competitiveness. Going forward, active pricing management remains among our top priorities in safeguarding our profitability, especially against the increasing chemical and synthetic fiber costs this year.
Our employees at the Louveira filtration plant in Brazil did an excellent job in cleaning up the site after the flood and limiting the damages incurred to a minimum.”