08.08.24
In the second quarter of 2024, Mativ’s sales of $523.8 million increased 4.7% sequentially versus Q1 2024 reflecting volume improvement and decreased 0.5% versus the prior year.
Filtration & Advanced Materials (FAM) segment sales, comprised primarily of filtration media and components, advanced films, coating and converting solutions, and extruded mesh products, were $206.4 million, up 2% sequentially versus Q1 2024, and down 3% versus the prior year period, as flat volumes were more than offset by lower selling prices due to input cost deflation.
CEO Julie Schertell comments: “July marked the two-year anniversary of the merger of SWM and Neenah to create Mativ. The past two years have been marked with significant accomplishments in transforming Mativ into an enterprise that is more agile and well-positioned for the future. These actions included divesting non-strategic businesses, closing and consolidating sites, integrating our systems, and restructuring our organization to be more lean, adaptable and scalable. As we head into our third year as a company, we continue to be relentlessly focused on delivering value to our customers, aggressively reducing complexity and costs, and delivering adjusted EBITDA and margin improvements. We are pleased with our execution and look forward to creating incremental value for our customers and shareholders.”
Filtration & Advanced Materials (FAM) segment sales, comprised primarily of filtration media and components, advanced films, coating and converting solutions, and extruded mesh products, were $206.4 million, up 2% sequentially versus Q1 2024, and down 3% versus the prior year period, as flat volumes were more than offset by lower selling prices due to input cost deflation.
CEO Julie Schertell comments: “July marked the two-year anniversary of the merger of SWM and Neenah to create Mativ. The past two years have been marked with significant accomplishments in transforming Mativ into an enterprise that is more agile and well-positioned for the future. These actions included divesting non-strategic businesses, closing and consolidating sites, integrating our systems, and restructuring our organization to be more lean, adaptable and scalable. As we head into our third year as a company, we continue to be relentlessly focused on delivering value to our customers, aggressively reducing complexity and costs, and delivering adjusted EBITDA and margin improvements. We are pleased with our execution and look forward to creating incremental value for our customers and shareholders.”
