Ahlstrom-Munksjö interim report January-March 2020: Strong improvement in comparable ebitda

Financial News

This release is a summary of Ahlstrom-Munksjö’s’ interim report January-March 2020. The complete report is attached to this release as a pdf-file. It is also available at www.ahlstrom-munksjo.com.


  • Strong improvement in comparable EBITDA , all business areas improved
  • Delivery volumes increased
  • EUR 50 million cost savings program completed ahead of schedule
  • Rapid and coordinated response to the COVID-19 pandemic, limited impact in the first quarter
  • Very strong demand for medical and life science end-use products, expansion of face mask materials production
  • Sale of the fine art paper business in Arches, France, resulted in a capital gain of EUR 31 million

Q1/2020 VS Q1/2019

  • Net sales decreased by 5.2% to EUR 718.1 million (757.7), partly due to an unfavorable product mix 
  • Comparable EBITDA increased by 22% to EUR 91.7 million (75.0), representing 12.8% (9.9) of net sales, supported by lower variable costs and higher sales volumes
  • Operating result of EUR 73.7 million (17.8), including the capital gain from the sale of the fine art paper business
  • Net result EUR 46.6 million (4.1)
  • Earnings per share EUR 0.40 (0.03)
  • Comparable EPS excluding depreciation and amortization arising
  • from PPA EUR 0.30 (EUR 0.21)
  • Net debt decreased to EUR 854.3 million (885.0 in Q4/2019), supported by the sale of the fine art paper business


Source: Ahlstrom-Munksjö


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