04.28.16
In the first quarter of 2016, Ahlstrom’s net sales of €243.7 million ($275.6 million) were down €7.8 million ($8.8 million) compared to the same period in 2015. Net sales at constant currencies declined by 2.5%. Operating profit was €8.7 million ($9.8 million) in Q1 2016 compared to €11 million ($12.4 million) in Q1 2015. Adjusted operating profit of €12.9 million ($14.6 million) in Q1 2016 was up from €10.3 million ($11.6 million) in Q1 2015, representing 5.3% of net sales in 2016, and the tenth consecutive quarter of year-on-year improvement.
Marco Levi, president and CEO, comments: “January-March 2016 marked our tenth consecutive quarter of year-on-year improvement in profitability, with the majority of our businesses delivering higher margins. In addition to the tailwind we received from lower input costs, we have achieved this through better pricing, optimization of our product mix as well as lower cost structure.
“In the Filtration & Performance segment, the Wallcover & Poster business delivered higher sales and margin with the Industrial Nonwovens unit making steady progress. In the Specialties segment, the Advanced Liquid Technologies, Tape, and Medical units all improved profitability. However, the subdued demand conditions in some of our markets, such as filtration as well as tape and medical products, were reflected in our overall net sales performance.”
Marco Levi, president and CEO, comments: “January-March 2016 marked our tenth consecutive quarter of year-on-year improvement in profitability, with the majority of our businesses delivering higher margins. In addition to the tailwind we received from lower input costs, we have achieved this through better pricing, optimization of our product mix as well as lower cost structure.
“In the Filtration & Performance segment, the Wallcover & Poster business delivered higher sales and margin with the Industrial Nonwovens unit making steady progress. In the Specialties segment, the Advanced Liquid Technologies, Tape, and Medical units all improved profitability. However, the subdued demand conditions in some of our markets, such as filtration as well as tape and medical products, were reflected in our overall net sales performance.”