Ahlstrom publishes restated historical financial segment information for 2012

Ahlstrom Corporation STOCK EXCHANGE RELEASE April 23, 2013 at 09.00

Ahlstrom made changes to its financial segment reporting as of January 1, 2013 as the former Filtration business area was divided into two separate segments: Advanced Filtration and Transportation Filtration.

In addition, a new reporting segment called Trading and new business, has been added. The segment includes trading sales of wipes materials to Suominen Corporation and release papers from the Osnabrück plant as well as Porous Power Technologies. These operations were previously reported as part of the Building and Energy and Label and Processing segments.  

As of January 1, 2013, Ahlstrom has adopted the revised IAS 19 Employee Benefits standard. The impact of the change has also been included in the restated figures. The operating profit from continuing operations in 2012 is increased by EUR 3.1 million as the net interest costs related to employee benefits are reported in financial items. The operating profit impact is positive for all the segments.

Further information on the impact of the revised standard will be presented in the interim financial statements to be published on April 25, 2013.

Ahlstrom's financial reporting will be in line with these changes starting from the January-March 2013 interim report. Quarterly Group and segment information for 2012 has been restated accordingly. Detailed figures are presented in the tables at the end of this release.

As of January 1, 2013, Ahlstrom's five reporting segments are: Advanced Filtration, Building and Building, Food and Medical, Transportation Filtration, and Trading and new business.

Income Statement 2012 2012 2012 2012 2012
EUR million Q1 Q2 Q3 Q4 Jan.-Dec.
Continuing operations:
 
Net sales 260.3 261.6 248.8 240.1 1,010.8
Cost of goods sold -218.9 -225.2 -209.6 -210.0 -863.7
Gross  profit 41.5 36.4 39.2 30.0 147.1
Sales & Marketing Expenses -10.2 -10.5 -10.4 -11.3 -42.3
R&D Expenses -4.2 -4.3 -4.2 -4.3 -17.1
Administrative Expenses -17.4 -18.9 -18.6 -19.2 -74.1
Other operating income & expense 0.6 1.6 0.3 5.6 8.1
Impairment charges made/reversed 0.3 -0.3 0.0 0.0 0.0
Operating profit/loss 10.7 4.0 6.3 0.8 21.7
Operating profit/loss % 4.1% 1.5% 2.5% 0.3% 2.1%
Operating profit/loss excl. NRI 10.6 7.4 7.3 -4.3 21.0
Operating profit/loss % excl. NRI 4.1% 2.8% 2.9% -1.8% 2.1%
Net financial expenses -4.7 -5.2 -5.2 -4.3 -19.4
Share of profit/loss of equity accounted investments 0.0 -1.7 -0.8 -4.6 -7.1
Profit/loss before taxes 6.0 -3.0 0.3 -8.1 -4.8
Income taxes -2.0 -0.5 -6.2 -1.6 -10.4
Profit/loss for the period from continuing operations 4.0 -3.5 -6.0 -9.7 -15.2
Discontinued operations:
Profit/loss for the period 4.1 2.9 0.7 7.5 15.1
Continuing and discontinued
Profit/loss for the period 8.1 -0.6 -5.2 -2.3 -0.1

      
Segment information 2012 2012 2012 2012 2012
EUR million Q1 Q2 Q3 Q4 Jan.-Dec.
Building and Energy 63.5 57.8 50.7 50.0 221.9
Transportation Filtration 71.5 77.4 71.8 72.7 293.5
Advanced Filtration 18.6 18.9 18.8 19.8 76.1
Food and Medical 89.0 89.4 93.7 87.4 359.4
Trading and new business 31.4 28.9 26.7 28.4 115.3
Other operations 23.4 25.0 23.7 32.1 104.2
Internal sales -37.0 -35.7 -36.5 -50.4 -159.6
Total net sales 260.3 261.6 248.8 240.1 1,010.8
Building and Energy 2.8 1.3 1.8 1.9 7.9
Transportation Filtration 3.3 3.9 3.8 9.0 20.1
Advanced Filtration 1.8 2.3 2.1 1.8 8.0
Food and Medical 5.6 5.6 6.7 6.0 23.9
Trading and new business 9.7 8.5 8.0 7.8 33.9
Other operations 13.8 14.1 14.1 23.8 65.8
Total Internal sales 37.0 35.7 36.5 50.4 159.6
Building and Energy 3.1 2.3 2.3 3.5 11.2
Transportation Filtration 3.4 0.2 2.5 1.3 7.4
Advanced Filtration 2.7 2.9 2.7 1.3 9.5
Food and Medical 2.4 1.1 2.7 -1.0 5.3
Trading and new business 0.0 -0.6 -1.5 -0.8 -3.0
Other operations -1.0 -1.9 -2.3 -3.5 -8.8
Elimination 0.1 -0.1 0.0 0.0 0.1
Operating profit/loss 10.7 4.0 6.3 0.8 21.7
Building and Energy 3.1 2.3 2.0 -1.8 5.6
Transportation Filtration 3.7 4.0 2.7 1.3 11.7
Advanced Filtration 2.7 2.9 2.7 1.3 9.5
Food and Medical 2.4 1.6 3.4 -1.1 6.3
Trading and new business 0.0 -0.6 -1.5 -0.8 -2.9
Other operations -1.4 -2.8 -1.9 -3.1 -9.2
Elimination 0.1 -0.1 0.0 0.0 0.1
Operating profit/loss excl. non-recurring items 10.6 7.4 7.3 -4.3 21.0
Building and Energy 25.6 23.2 20.3 20.2 89.2
Transportation Filtration 26.1 27.8 25.4 24.7 104.1
Advanced Filtration 3.4 3.4 3.5 3.5 13.8
Food and Medical 30.0 29.1 28.9 28.6 116.6
Trading and new business 26.7 25.6 22.9 23.4 98.6
Other and elimination -11.5 -10.5 -10.7 -10.6 -43.3
Total sales tons 100.3 98.7 90.3 89.8 379.0

For more information please contact:
Seppo Parvi
CFO
Tel. + 358 10 888 4768

Liisa Nyyssönen
Vice President. Communications
Tel. +358 10 888 4757

Ahlstrom in brief
Ahlstrom is a high performance fiber-based materials company partnering with leading businesses around the world to help them stay ahead. Our products are used in a large variety of everyday applications, such as filters, medical gowns and drapes, diagnostics, wallcoverings, flooring and food packaging. We have a leading market position in the businesses in which we operate. In 2012, Ahlstrom's net sales from the continuing operations (excluding Label and Processing business) amounted to EUR 1 billion. Our 3.800 employees serve customers in 28 countries on six continents. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. More information available at www.ahlstrom.com.

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