Ahlstrom Corp, Finland

Ahlstrom Corp, Finland

Company WATCH Ahlstrom Corp, Finland Andritz Group, Austria Key Figures (E million) Second quarter ended 30.6 2014 2013 Net Sales Of Which: Advan...

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Company WATCH

Ahlstrom Corp, Finland

Andritz Group, Austria

Key Figures (E million) Second quarter ended 30.6 2014 2013

Net Sales Of Which: Advanced Filtration Transportation Filtration

253.0

265.0

26.2 82.9

26.2 81.0

Cost of Goods Sold

207.8

222.3

45.2

42.7

9.6

6.4

Profit/(Loss) before Taxes

(0.4)

(3.5)

Net Profit/(Loss) from Continuing Operations

(2.2) (4.9)

Gross Profit Operating Profit/(Loss)



Six months ended 30.6 2014 2013

Net Sales Of Which: Advanced Filtration Transportation Filtration

502.2

520.3

50.7 160.8

50.5 155.6

Cost of Goods Sold

438.4

438.4



Key Figures (E million) Second quarter ended 30.6 2014 2013

Order Intake Of Which: Separation

1238.0

1237.7

Sales Of Which: Separation

1439.9 1446.3

166.4 176.1

138.1 149.9

EBITA

84.8 82.7

Earnings before Interest and Taxes

65.4

62.8

Net Income

46.0

42.8



Six months ended 30.6 2014 2013

Order Intake Of Which: Separation

2980.2

Sales Of Which: Separation

2659.4 2610.1

2526.0

310.4 322.2

262.4 278.1

Gross Profit

86.4

81.9

EBITA

133.4 96.9

Operating Profit/(Loss)

14.0

14.7

Earnings before Interest and Taxes

94.4

65.9

Profit/(Loss) before Taxes

4.8

0.1

Net Income

66.7

46.9

Net Profit/(Loss) from Continuing Operations

0.9 (3.0)

COMMENT COMMENT Ahlstrom has posted sales from continuing operations for the second quarter of fiscal 2014 of E253.0 million, down 4.5% on a year earlier. It recorded a net loss for the period of E2.2 million compared with a year earlier deficit of E4.9 million. Ahlstrom’s new president and CEO, Marco Levi, said while total sales were down on a year earlier comparable net sales grew 0.4% at constant currency rates and there was clear improvement in the profitability of four of the company’s business areas. “We have improved our profitability for three consecutive quarters, demonstrating our ability to enhance financial 88

Filtration Industry Analyst

performance,” Levi said. “In particular the Advanced Filtration, Food, and Transportation Filtration business areas increased their profit margins”. Levi said that the company’s ongoing rightsizing program was progressing as planned, with the benefits already visible in its operating results with clear reductions in selling, general and administrative costs, along with production overheads. “As we cannot rely solely on an economic recovery to boost our sales, we will strive to improve our operational efficiency and continue to launch appealing new products,” he added. n www.ahlstrom.com

Andritz has posted sales for the second quarter of fiscal 2013 of E1439.9 million, a decrease of 0.4% on the previous year. Sales in the Separation business area fell 7.9% to E138.1 million. Order intake for the period edged up fractionally on the 2013 period to reach E1238.0 million, although it was down 5.5% in the Separation segment at E166.4 million. Net profit for the quarter rose 7.5% to E46.0 million. Results for the corresponding six-month period were stronger, reflecting a full period contribution from the Schuler Group acquired in March 2013, although the Separation segment again struggled in comparison to the year earlier. Overall sales for the six months rose 1.9% to E2659.4

million, but fell 5.6% to E262.4 million in the Separation segment. Order intake for the group was up 18.0% for the Group at E2980.2 million, but 3.7% lower at _262.4 million in the Separation business unit. “Given the overall economic situation and the competitive environment, order intake and sales of the Andritz Group saw solid development,” the company’s president and CEO, Wolfgang Leitner, said. “We achieved a significant improvement in earnings compared to the previous year’s reference period, although further improvements are necessary to reach our target figures. We expect unchanged project activity in the markets we serve for the second half of the year.” n www.andritz.com

October 2014