Ahlstrom reports record high profitability in 2016

October-December 2016 compared with October-December 2015:
*Net sales EUR 266.1 million (EUR 255.0 million).At constant currency rates, growth was 4.9%.
*Adjusted EBITDA EUR 26.4 million (EUR 21.6 million), representing 9.9% (8.5%) of net sales
*Operating profit EUR 8.0 million (EUR 16.4 million loss)
*Adjusted operating profit EUR 14.4 million (EUR 7.6 million), representing 5.4% (3.0%) of net sales
*Profit before taxes EUR 4.8 million (EUR 20.5 million loss)
*Earnings per share EUR 0.00 (EUR -0.46)
*Net cash flow from operating activities EUR 26.9 million (EUR 23.3 million)

January-December 2016 compared with January-December 2015:
*Net sales EUR 1,085.9 million (EUR 1,074.7 million).At constant currency rates, growth was 2.6%.
*Adjusted EBITDA EUR 130.9 million (EUR 104.8 million), representing 12.1% (9.7%) of net sales
*Operating profit EUR 70.8 million (EUR 21.9 million)
*Adjusted operating profit EUR 80.6 million (EUR 47.5 million), representing 7.4% (4.4%) of net sales
*Profit before taxes EUR 56.3 million (EUR 22.6 million. The comparison figure includes a capital gain of EUR 20.3 million from share sales.)
*Earnings per share EUR 0.61 (EUR 0.06)
*Net cash flow from operating activities EUR 125.8 million (EUR 60.0 million)

Sakari Ahdekivi, interim President & CEO:  “In 2016, we achieved an all-time high profitability in the current structure of the company and our balance sheet is much stronger than before. During the latter part of the year we also demonstrated our ability to grow, something we have lacked in the past few years, and achieved remarkable growth in net sales of close to 5% at constant currency rates in the last quarter of the year. In addition to higher sales, we also benefited from improved operational efficiency and lower variable costs. Our business units made good progress and the majority improved their sales and operating profits throughout the year.

We have executed on our strategy at an accelerated pace. Our margins have clearly increased thanks to improved commercial excellence, a leaner operating model, higher capacity utilization and our ability to capture new growth opportunities. As a result, we came close to achieving our 2018 profitability target of above 8% adjusted operating profit margin already in 2016.

The planned merger with Munksjö Oyj is a major strategic milestone in the recent history of Ahlstrom. This combination will create a leader in innovative and sustainable fiber-based solutions. The deal will create substantial value to our stakeholders by offering further opportunities for growth and improved operational efficiency. A strong balance sheet and cash generation will support growth of the combined company. The focus will now be on completing the merger and the subsequent integration of the two companies.”
more at:  http://www.ahlstrom.com/en/Media/Releases/Stock-Exchange-Releases/2017/ahlstrom-financial-statements-release-2016-record-high-profitability-in-2016-with-accelerated-sales-growth-in-the-last-quarter-of-the-year-/

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