Interim report January-September 2005: Ahlstrom's positive financial performance continued

Interim report January-September 2005: Ahlstrom's positive financial performance continued

Ahlstrom, a leader in high performance fiber-based materials, reports an improved third-quarter result. Operating profit for July-September amounted to EUR 33.7 million (Q3/2004: EUR 18.6 million), representing an 8.8% margin (4.7%). Excluding the net non-recurring gains totaling EUR 12.3 million, the third quarter operating profit amounted to EUR 21.4 million (EUR 20.8 million). Net sales were EUR 381.9 million (EUR 393.4 million). Return on capital employed (ROCE) amounted to 13.9% (7.8%).
 
July-September 2005 in brief
 
  • Net sales of continuing operations grew by 6.8% and volumes by 7.3% (both adjusted for divestments)
  •  
  • Good profitability in seasonally slower third quarter
  •  
  • Ahlstrom sold Ahlstrom Kauttua Oy in Finland and a hydropower asset in Italy
  •  
  • Two organic growth investments at two plants in the USA were announced
  •  
    Key figures
     
    EUR million
    Q3/
    2005
    Q3/
    2004
    Q1-
    Q3/2005
    Q1-
    Q3/2004
    2004
    Net sales
    381.9
    393.4
    1,169.0
    1,196.0
    1,567.8
    Operating profit
    33.7
    18.6
    92.7
    46.5
    63.7
    Operating profit excl.
    non-recurring items
    21.4
    20.8
    77.0
    63.9
    80.4
    Profit before taxes
    29.2
    15.5
    81.6
    38.4
    49.6
    Net profit
    18.2
    10.7
    50.5
    24.7
    34.3
    Net cash flow
    from operations
    59.0
    61.5
    96.1
    79.1
    128.0
    Gearing ratio, %
    49.2
    67.4
    49.2
    67.4
    61.1
    Return on capital
    employed (ROCE),%
    13.9
    7.8
    12.9
    7.1
    7.2
    Cash earnings
    per share, EUR
    1.62
    1.69
    2.64
    2.17
    3.52
    Earnings
    per share, EUR
    0.50
    0.29
    1.39
    0.68
    0.94
     

     
    Mr. Jukka Moisio, President & CEO of Ahlstrom Corporation, comments on the third quarter:
     
    "Seasonally slow third quarter was weaker than experienced in many years. North American and Asian markets did improve but Europe remained sluggish. Increases in energy and raw materials prices continued to put pressure on margins. Despite the challenging market situation, Ahlstrom's comparable sales increased. Continuous focus on manufacturing efficiency as well as strict cost control helped our continuing operations to show 14% improvement in operating profit compared with the third quarter of 2004."
     
     
    For additional information, please contact:
     
    Jukka Moisio, President and CEO, tel. + 358 (0)10 888 4700
    Jari Mäntylä, Senior Vice President, Finance, tel. +358 (0)10 888 4768
     
     
    The full report including tables can be downloaded from the following link:
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