Finland-based Ahlstrom, which provides innovative fibre-based materials with a function in everyday life, has released their financial results for the year 2016. The company has noted record profit in the review period with accelerated sales growth in the last quarter.
As per the press release, net sales particularly in October-December stood at Euro 266.1 million as against Euro 255 in the same period of 2015, up 4.9 per cent. Its operating profit was Euro 8.0 million as against Euro 16.4 million loss. Additionally, in January-December 2016 period, Ahlstrom’s net sales reached Euro 1,085.9 million compared to Euro 1,074.7 million in the corresponding period of 2015, noting a growth of 2.6 per cent.
Operating profit in January-December 2016 period totalled Euro 70.8 million as against Euro 21.9 million of 2015 period. Profit before taxes also soared to Euro 56.3 million from prior year’s Euro 22.6 million.
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Expressing happiness on the record high growth, Sakari Ahdekivi, Interim President & CEO of the company said, “In 2016, we achieved an all-time high profitability in the current structure of the company and our balance sheet is much stronger than before. We have executed on our strategy at an accelerated pace. Our margins have clearly increased thanks to improved commercial excellence, a leaner operating model, higher capacity utilization and our ability to capture new growth opportunities. As a result, we came close to achieving our 2018 profitability target of above 8 per cent adjusted operating profit margin already in 2016.”
