Ahlstrom Corp, Finland

Ahlstrom Corp, Finland

COMPANY WATCH Ahlstrom Corp, Finland Calgon Carbon Corp, USA Key Figures (E million) Third quarter ended 30.9 2010 2009 Net Sales Of Which: Filtr...

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COMPANY WATCH

Ahlstrom Corp, Finland

Calgon Carbon Corp, USA

Key Figures (E million) Third quarter ended 30.9 2010

2009

Net Sales Of Which: Filtration

482.4

400.6

87.4

70.5

Cost of Goods Sold

420.5

346.9

16.9

13.1

7.0

Profit before Taxes Net Profit

Operating Profit Of Which: Filtration

107.5

110.0 12.1 2.3

94.2 10.6 2.7

Cost of Products Sold

82.4

71.1

5.3

Income from Operations

14.6

14.1

8.3

7.3

Net Income/(Loss)

10.0

13.9

4.1

4.9 Nine months ended 30.9 2010

2009

2009

Net Sales Of Which: Filtration

1412.8

1175.6

254.9

204.8

Cost of Goods Sold

1222.1

1043.4

190.7

132.2

Operating Profit Of Which: Filtration

60.7

12.1

23.9

10.6

Profit before Taxes

38.1

(6.6)

Net Profit

24.7

(5.0)

December 2010

Net Sales Of Which: Carbon and Service Equipment Consumer

350.9

301.2

310.8 33.4 6.6

261.4 32.8 7.1

Cost of Products Sold

228.7

202.6

Income from Operations

31.3

33.2

Net Income/(Loss)

22.8

25.9

COMMENT

COMMENT Ahlstrom’s good sales growth in fiscal 2010 continued in the third quarter with its net sales for the period up 20.4% on the year earlier at 482.4 million. Revenues in the company’s Filtration segment increased 24.0% for the quarter to 87.4 million, supported by continued growth in Asia and recovery in North American automotive industry, as well as higher selling prices and favourable currency fluctuations. “The demand for our products continued to develop as forecasted in most of our customer segments, and our cash flow remained strong in the third quarter, when demand is seasonally weaker in many of our markets,” Jan Lång, Ahlstrom’s president and CEO,

Net Sales Of Which: Carbon and Service Equipment Consumer

2009

124.4

Nine months ended 30.9 2010

Gross Profit

Key Figures (US$ million) Third quarter ended 30.9 2010

said. “Our growth strategy in Asia moved forward with the completion of the acquisition of Shandong Puri Filter & Paper Products in China.” Operating profits were also up year-on-year, rising 29.0% overall to 16.9 million and 32.1% in the Filtration segment to reach 7.0 million. Ahlstrom’s net profit, however, was down 16.3% to 4.1 million. “Higher maintenance costs and adverse currency moves affected our results negatively in the quarter,” Lång said. “However, we will continue to work hard to improve our profitability and increase performance of the production lines that were part of our 2007 and 2008 investment programme.” ■ www.ahlstrom.com

Calgon Carbon has posted net sales for the third quarter of fiscal 2010 of US$124.4 million, up 15.7% on the previous year. Sales received a year-onyear boost of US$16.2 million from acquisitions, although currency translation had a negative impact of US$2.1 million. Sales of activated carbon increased 16.7% to US$110.0 million, boosted mainly by the contribution from acquisitions. Equipment sales increased 14.7% to US$12.1 million, principally due to higher revenue from traditional carbon adsorption equipment, while consumer revenues were down 16.4% to US$2.3 million due to lower demand for its PreZerve products and carbon cloth. “We are encouraged by the third quarter results, as they

represent progress in achieving our long-term growth objectives,” John Stanik, Calgon Carbon’s chair, president and CEO, said. “We will continue to follow our growth plan, although from time-totime this may have an adverse impact on short-term results, but should have a more significant positive impact in the long term. For example, the increase in research and development expenses in the third quarter of 2010 should result in differentiated products that will strengthen our competitive position in that market. I am confident that Calgon Carbon is moving in the right direction to take full advantage of its many growth opportunities.” ■ www.calgoncarbon.com

Filtration Industry Analyst

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