Ahlstrom Corporation's Interim Report January-September, 2004: Sales volumes increased, profitability remained below the target level

Ahlstrom Corporation's Interim Report January-September, 2004: Sales volumes increased, profitability remained below the target level

Comparable figures refer to the same period last year unless otherwise stated
 
Ahlstrom, a leader in high performance fiber-based materials, reports a third quarter result improving on the previous year. Operating profit in third quarter was EUR 14.7 million (EUR 11.3 million), representing a 3.7% margin (3.0%). In January-September operating profit totaled EUR 47.4 million (EUR 59.5 million).
 
In the third quarter, net sales were EUR 393.4 million, compared with EUR 377.1 million for the same period last year. During January-September, net sales amounted to EUR 1,196.0 million (EUR 1,190.5 million). In the third quarter, volumes sold increased by 3.2% compared with the third quarter of 2003.
 
January-September 2004 in brief:
 
  • Sales volumes increased by 3.3%
  • Several investments completed at Ahlstrom's plants worldwide and acquisitions in the USA strengthen Ahlstrom's global position in filtration materials and nonwovens
  • Specialties division improved its profitability over the previous year
  •  
    "Despite a positive trend seen in the third quarter, our profitability remained well below the target level for return on capital employed (ROCE) of 13%. Therefore, our short term focus lies on reducing fixed costs, increasing sales, and improving capacity utilization", says Jukka Moisio, President & CEO of Ahlstrom Corporation.
     
    Key figures
     
    EUR million
    Q1-Q3/2004
    Q1-Q3/2003
    Q3/2004
    Q3/2003
    2003
    Net sales
    1,196.0
    1,190.5
    393.4
    377.1
    1,556.4
    Operating profit
    47.4
    59.5
    14.7
    11.3
    48.5
    Profit before extraordinary items and taxes
    37.5
    48.2
    10.8
    8.9
    33.7
    Net profit
    21.2
    27.0
    6.7
    5.7
    22.4
    Net cash flow from operations
    79.1
    109.5
    61.5
    41.1
    202.0
    Gearing (%)
    57.1
    37.4
    57.1
    37.4
    42.3
    Return on capital employed (ROCE),%
    6.6
    7.3
    5.9
    4.6
    4.6
    Earnings per share (EUR)
    0.58
    0.76
    0.18
    0.17
    0.61
     
    Financial information in 2005
     
    Ahlstrom Corporation will publish its Annual Report for 2004 in week 11, 2005.
     
    Helsinki, October 28, 2004
     
    Ahlstrom Corporation
    Board of Directors
     
     
    The full report including tables can be downloaded from the following link:
    Share this pageShare this page