Provider of innovative fibre-based materials with a function in everyday life, Ahlstrom has reported 2.5 per cent plunge in its net sales in the January to March period this year.
In the period under review, net sales of the company dropped to Euro 243.7 million from Euro 251.5 million last year. Operating profit totalled Euro 8.7 million, down from Euro 11.0 million. Adjusted operating profit was Euro 12.9 million as against Euro 10.3 million in the corresponding period last year. Profit before taxes stood at Euro 4.8 million in the reporting period.
Also Read – Ahlstrom opens new Service Centre in EMEA region
Commenting on the results, Marco Levi, President & CEO of Ahlstrom averred, “January-March 2016 marked our tenth consecutive quarter of year-on-year improvement in profitability, with the majority of our businesses delivering higher margins. In addition to the tailwind we received from lower input costs, we have achieved this through better pricing, optimization of our product mix as well as lower cost structure.”
The company chief also said that this improving trend in financial performance shows that the team and the management are on the right track to reach its target of over 8 per cent adjusted operating profit margin by 2018.
