Chillicothe Mill Closure Hits Ohio Logging Industry

*Operating profit for January–September 2022 was SEK 5 905 million (January–September 2021: 2 725). Excluding the item affecting comparability, operating profit increased by SEK 2 764 million to SEK 5 640 due to higher selling prices, while cost inflation was limited by our high level of wood and energy self-sufficiency. *Compared with the second quarter, operating profit for the third quarter decreased by SEK 180 million to SEK 1 921 million. A weaker wood products market had an adverse impact, but this was largely offset by higher earnings in other business areas. *Profit after tax for January–September amounted to SEK 4 606 million (2 136), which corresponds to earnings per share of SEK 28.5 (13.2).

Mativ First Quarter 2023 Highlights *Sales increased 66.9% to $679.0 million, reflecting the benefit of the merger; 1% constant currency organic sales growth *GAAP loss was $7.7 million, GAAP EPS was $(0.14), and GAAP Operating Profit was $9.3 million, which all included merger integration and purchase accounting expenses *Price increases more than offset the impacts of higher input costs; however, lower volumes primarily from customer de-stocking and manufacturing challenges drove margin pressure *$25 million incremental synergy realization still expected in 2023, with procurement and supply chain activities building upon 2022 SG&A actions; easing input costs also expected to support sequential margin improvements

Fourth Quarter 2017 Relative to Third Quarter 2017: Net sales of $43.5 million in the fourth quarter decreased $1.7 million, or 3.7%, from the third quarter driven by seasonality factors. Converted product sales declined $1.5 million; a decline of $1.9 million due to volume, offset by higher average-selling prices having a positive impact of $0.4 million. Parent roll sales decreased $0.2 million, as the effect of lower sales volume outpaced an increase in the average selling price compared to third quarter 2017. Average selling prices were, to a degree, positively impacted in the fourth quarter by the inclusion of Orchids' new ultra-premium products manufactured at Barnwell. Cost of goods sold, net of depreciation, in the fourth quarter declined by $2.5 million to 84.6% of net sales, down from 87.0% in the third quarter, representing our second consecutive decline as a percentage of sales. Total cost of sales increased to 94.2% of revenue in the fourth quarter, up from 93.9% in the third quarter. Total depreciation increased to 9.6% of net sales in the fourth quarter from 6.9% of net sales in the third quarter as a result of the addition of the Barnwell facility. Click Read More below for additional information.