The net sales of Finnish company Ahlstrom increased by 5.2 per cent to €742.7 million (~$788.8 million) on higher average selling prices in the third quarter (Q3) of fiscal 2024 (FY24).

Comparable EBITDA increased to €130.2 million (~$138.26 million) in the third quarter, representing 17.5 per cent of net sales (16.9), supported by increased margin on variable costs per ton. Higher input costs were more than offset by higher average selling prices and cost efficiency measures, leading to a higher margin on variable costs per ton. Fixed costs were higher.

In the third quarter, EBITDA was €81.9 million (~$86.928 million). Items affecting comparability (IACs) and owners’ management fee in EBITDA totalled €-48.2 million (~$-51.1 million), and included mainly restructuring costs relating to the closure of the Bousbecque plant and losses from financial energy hedges. Transformation costs were lower as internal capabilities have been built up.

“Ahlstrom’s transformation efforts are delivering results. Our comparable EBITDA in the third quarter reached a record level, reflecting our ongoing commitment to performance and growth. Driven by our dedication to science and our desire to help customers navigate global trends, we continue to launch new products, with the introduction this quarter of recyclable packaging material for the bouillon cube segment. This innovation replaces thousands of tons of plastic and supports sustainable development. Moreover, our enhanced customer collaboration has led to our customer loyalty score reaching the highest decile in our industry in the latest measurement, which makes me particularly proud,” said Helen Mets, president and CEO.

“Our margin on variable cost per tonne continued to increase to a record high level, thanks to our improved operational performance driven by our transformation initiatives. Adjusted for the Stenay divestment in 2023, our deliveries increased by 1 per cent compared to the previous year. We continued to strengthen our business portfolio by consolidating our footprint in parchment paper production at the Saint-Séverin site following the closure of the Bousbecque mill. Our centralised operations ensure efficiency and continued growth. In addition, we successfully completed the transaction to divest the Aspa pulp mill in November, supporting our growth transformation and focus on specialty materials production,” explained Mets.