Ahlstrom Corporation's Interim Report for January-June, 2004: Business environment improving, leading to higher volumes

Ahlstrom Corporation's Interim Report for January-June, 2004: Business environment improving, leading to higher volumes

Comparable figures refer to the same period last year unless otherwise stated
 
Ahlstrom, a leader in high performance fiber-based materials, reports an improvement in its second quarter result compared to the corresponding period in 2003. Operating profit in April-June was EUR 17.1 million (EUR 16.5 million a year earlier), representing a 4.2% margin (4.2%). Second quarter net sales amounted to EUR 405.2 million (EUR 396.5 million).
 
In January-June, Ahlstrom's operating profit was EUR 32.7 million (EUR 48.2 million) and net sales EUR 802.6 million (EUR 813.4 million). The demand for Ahlstrom's main products is improving slightly, in particular in the USA.
 
January-June 2004 in brief:
 
  • Results of performance improvement becoming visible
  • Strategic investments within FiberComposites division started up on schedule
  • Acquisition of Hollinee, L.L.C.'s filtration division in the USA expands Ahlstrom's product offering to the HVAC filtration media business
  • Focus on cost efficiency continues
  •  
    Juha Rantanen, President and CEO of Ahlstrom Corporation says: "It is encouraging to observe that our performance improvement initiatives are starting to have an impact. Helped also by increased demand in several markets, the business situation is now better than for several quarters back. We will continue our improvement measures and strict cost management."
     
    Key figures
    EUR million
    H1/2004
    H1/2003
    Q2/2004
    Q2/2003
    2003
    Net sales
    802.6
    813.4
    405.2
    396.5
    1,556.4
    Operating profit
    32.7
    48.2
    17.1
    16.5
    48.5
    Profit before extraordinary items and taxes
    26.7
    39.4
    13.8
    13.4
    33.7
    Net profit
    14.5
    21.3
    7.9
    6.5
    22.4
    Net cash flow from operations
    17.6
    68.4
    -3.2
    15.9
    202.0
    Gearing (%)
    64.9
    45.1
    64.9
    45.1
    42.3
    Return on capital employed (ROCE),%
    6.7
    8.5
    6.7
    6.2
    4.6
    Earnings per share (EUR)
    0.40
    0.59
    0.22
    0.18
    0.61
     
     
    Ahlstrom Corporation will publish Interim report for January-September on October 28, 2004.
     
     
    Helsinki, July 29, 2004
     
    Ahlstrom Corporation
    Board of Directors
     
    The full report with tables can be downloaded from the following link:
    Share this pageShare this page