Ahlstrom Corp, Finland

Ahlstrom Corp, Finland

COMPANY WATCH Ahlstrom Corp, Finland Calgon Carbon Corp, USA Key Figures E million) Fourth quarter ended 31.12 2010 2009 Key Figures (US$ million...

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COMPANY WATCH

Ahlstrom Corp, Finland

Calgon Carbon Corp, USA

Key Figures E million) Fourth quarter ended 31.12 2010

2009

Key Figures (US$ million) Fourth quarter ended 31.12 2010

Net Sales Of Which: Filtration

481.4

420.5

84.9

71.1

Cost of Goods Sold

425.6

378.1

Gross Profit

55.8

42.4

Operating Profit/(Loss)

(7.0)

(26.6)

(12.6)

(33.4)

(6.8)

(27.9)

Profit/(Loss) before Taxes Net Profit/(Loss)

Net Sales Of Which: Activated Carbon and Service Equipment Consumer

2009

131.5

110.7

116.9 12.6 2.0

96.8 11.1 2.7

Cost of Products Sold

88.1

64.0

Income from Operations

15.0

20.2

Net Income/(Loss)

12.5

13.2

2010

2009

Net Sales Of Which: Activated Carbon and Service Equipment Consumer

482.3

411.9

427.7 46.0 8.6

358.2 43.9 9.8

316.9

266.6

Year ended 31.12

Year ended 31.12 2010

2009

Net Sales Of Which: Filtration

1894.2

1596.1

339.8

275.8

Cost of Goods Sold

1647.7

1421.5

246.5

174.6

Cost of Products Sold

Operating Profit/(Loss)

53.7

(14.6)

Income from Operations

46.3

53.4

Profit/(Loss) before Taxes

25.5

(40.1)

Net Income/(Loss)

34.9

39.2

Net Profit/(Loss)

17.9

(32.9)

Gross Profit

COMMENT Ahlstrom has posted sales for the fourth quarter of fiscal 2010 of E481.4 million, up 14.5% on the year earlier figure. In the company’s Filtration segment, sales were up 19.7% on the 2009 comparator at E84.9 million. The increase came from increased demand in the transportation industry in Asia and North America, as well as increases in selling prices. Ahlstrom recorded a loss for the quarter of E6.8 million compared with a year earlier loss of E27.9 million. The loss for the period reflected a number of non-recurring items including the Filtration segment booking a deficit of E18.4 million from the sale of Groesbeck business and a loss of E6.5 million from the sale of three production lines in Bethune in the USA. 8

Filtration Industry Analyst

For the corresponding fullyear, Ahlstrom saw its net sales lift 18.7% on 2009 to reach E1894.2 million, while it posted a net profit of E17.9 million after a year earlier loss of E32.9 million. “Our growth strategy in Asia progressed very well with a growth of almost 50% and in addition, we completed an acquisition in the Filtration business and established a joint venture in China in the Food and Medical business,” Jan Lång, Ahlstrom’s president and CEO, said. “Our strengthened balance sheet gave us the opportunity to implement our strategy and develop our businesses. We started a significant change programme with the aim of building a stronger company.” ■ www.ahlstrom.com

COMMENT Calgon Carbon finished fiscal 2010 posting fourth quarter revenues of US$131.5 million, up 18.8% on the year earlier. Sales for the company’s main Activated Carbon and Service segment increased 20.7% on the 2009 comparator to US$116.9 million. The majority of the increase came from acquisitions, although the company also saw higher demand from the potable water and respirator markets that offset a decline in the food market. Equipment sales increased 13.3% on a year earlier to US$12.6 million, while Consumer sales declined 27.9% to US$2.0 million. Results for the corresponding full year followed similar

trends with sales up 17.1% to US$482.3 million, while net income declined 11.0% to US$34.9 million. “We continue to improve our top-line growth which included contributions from our most recent acquisitions and Calgon Carbon’s traditional businesses,” John Stanik, Calgon Carbon’s chair, president and CEO, said. “While the decline in the fourth quarter margins was anticipated given our recent acquisitions, we expect to see margin improvement going forward as we continue to integrate Calgon Carbon Japan and implement global price increases that were previously announced.” ■ www.calgoncarbon.com

March 2011