Finland based nonwovens producer Ahlstrom inked a turnaround in its profit before taxes by posting positive results in the three months to June 30, 2105 as against the same period of last year.
For the second quarter of 2015, profit before taxes (PBT) totaled €20.8 million compared to loss before taxes at €0.4 million in the prior year first quarter.Finland based nonwovens producer Ahlstrom inked a turnaround in its profit before taxes by posting positive results in the three months to #
“The improvement in PBT came partly from a €11.1 million capital gains booked from the sale of Munksjö Oyj shares,” an Ahlstrom press release said.
Net sales for the reporting quarter grew 11.1 per cent to €281.1 million as against 253.0 million in the same quarter of last year, while comparable net sales at constant currencies remained flat.
Operating profit in the second quarter of the current year expanded massively to €15.7 million from €9.6 million in the corresponding quarter of 2014.
Operating profit excluding non-recurring items touched €16.8 million compared to €13.4 million, while margins reached 6.0 per cent as against 5.3 per cent, the seventh consecutive quarter of year-on-year improvement.
Consequently, earnings per share also turned positive at €0.29 in the quarter under review from loss per share of €0.07 in the second quarter of the past year.
“The Filtration business area reported improved profits despite slowdown in its markets, and the Food business continued on its path of steady improvement,” it observed.
“The Building and Energy business area also posted a increase in sales, while profitability still suffered from low demand for wallcovering products as well as adverse currency effects,” the Finnish company noted.
CEO Marco Levi said, "We had a record quarter and achieved the highest operating profit margin in the current structure of the company.”
“This was primarily driven by our efforts to improve commercial operations through enhanced pricing and product mix management,” he added.
“The quarter was also characterised by lower demand in some of our main markets and continued increase in net sales driven by currencies,” Levi informed.
Ahlstrom has revised its outlook for net sales and operating profit margin excluding non-recurring items for the full year of 2015.
Ahlstrom now expects net sales in 2015 to be in the range of €1,025-1,125 million as against €1,000-1,100 million it had projected earlier.
Operating profit margin excluding non-recurring items is now expected to be in the range of 3.85-4.5 per cent of net sales in 2015 compared to the earlier anticipated 3.5-5 per cent of net sales. (AR)
Fibre2Fashion News Desk – India
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