Ahlstrom interim report January-March 2011: Profitability improved in a challenging cost environment


Source: Ahlstrom-Munksjö

January-March 2011 compared with January-March 2010:

  • Net sales EUR 491.6 million (EUR 441.0 million), an increase of 11.5% year-on-year.
  • Operating profit EUR 20.8 million (EUR 14.0 million) and operating profit excluding non-recurring items EUR 21.3 million (EUR 13.7 million).
  • Operating margin excluding non-recurring items 4.3% (3.1%).
  • Profit before taxes EUR 15.5 million (EUR 7.4 million).
  • Earnings per share EUR 0.17 (EUR 0.09).
  • Net cash flow from operating activities EUR 18.5 million (EUR 32.1 million).

Highlights in January-March 2011

  • Encouraging net sales development with 11.5% year-on-year growth.
  • Ahlstrom launched its renewed brand and brand identity.
  • Production at the Louveira filtration plant in Brazil was fully resumed within a month after flooding in January.

Outlook for 2011

  • Ahlstrom maintains its outlook for 2011. Net sales for the current year are estimated to amount to EUR 1,920-2,080 million. Operating profit excluding non-recurring items is estimated to be EUR 90-110 million.

Jan Lång, President & CEO:

- Our development continued to be positive in the first quarter despite of the persisting raw material cost inflation. Nevertheless, we managed to improve our profitability. Active management of the supply chain cost base, notably in manufacturing and sourcing, improved our competitiveness. Going forward, active pricing management remains among our top priorities in safeguarding our profitability, especially against the increasing chemical and synthetic fiber costs this year.

- We launched a new brand identity in February reflecting the company's refined strategy, values and new operating model, as well as a new corporate image.

- Our employees at the Louveira filtration plant in Brazil did an excellent job in cleaning up the site after the flood and limiting the damages incurred to a minimum.

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