Ahlstrom reports interim results for January-March 2014.
Highlights:
Ahlstrom reports interim results for January-March 2014.Highlights:-Profitability shows signs of improvement-Continuing operations #
-Profitability shows signs of improvement
-Continuing operations January-March 2014 compared with January-March 2013
-Net sales EUR 249.2 million (EUR 255.3 million).
-Operating profit EUR 4.4 million (EUR 8.3 million).
-Operating profit excluding non-recurring items EUR 7.2 million (EUR 6.5 million).
-Operating margin excluding non-recurring items 2.9% (2.5%).
-Profit before taxes EUR 5.2 million (EUR 3.6 million).
-Earnings per share EUR 0.05 (EUR 0.03).
January-March 2014 in brief
Reported net sales fell by 2.4%, while profitability improved. Comparable net sales grew 2.6% at constant currency rates and there was clear improvement in the profitability of three business areas: Advanced Filtration, Food, and Transportation Filtration. New products were introduced to accelerate growth and improve sales mix and profit margin. One key product launch was Ahlstrom NatureMold, a new biodegradable molding material for food packaging.
Outlook for 2014
The outlook published on January 30, 2014 remains unchanged. Net sales are expected to be EUR 930-1,090 million. The operating profit margin excluding non-recurring items is expected to be 2-5% of net sales.
Jan Lång, President & CEO, “I'm pleased that we were able to make good progress and improve our profitability in three business areas. Advanced Filtration achieved excellent profitability, Transportation Filtration posted solid growth in both sales and profits, and Food showed very good comparable growth during the quarter. Overall, our new products are gaining traction."
"Meanwhile, we continued to address the issues in our two underperforming businesses, Building and Energy, and Medical. We still have work ahead of us in these two businesses, but I'm confident that we are able to enhance competitiveness with ongoing initiatives."
"Our rightsizing program, aimed at reducing costs by EUR 50 million annually is progressing as planned. We are well placed to improve our profitability this year and beyond through the rightsizing and growth initiatives."
Ahlstrom
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