Ahlstrom: Financial Statements Release 2023 published
AHLSTROM PRESS RELEASE FEBRUARY 29, 2024, at 13:00 EET
Ahlstrom Holding 3 Oy has today published its Financial Statements Release 2023. The report is available at www.ahlstrom.com/investors.
Helen Mets, President and CEO, comments on the full year 2023 results:
As we reflect on the past year, I am proud of the progress that we have made on our transformation journey towards becoming the Preferred Sustainable Specialty Materials Company. Against a backdrop of challenging market conditions, we have continued to deliver on growth, sustainability, and innovation. Our performance during the year demonstrated the resilience and specialty nature of the Ahlstrom portfolio, as well as the passion and commitment of our people.
Structurally improved profitability
We are pleased to report that our comparable EBITDA reached a level almost as robust as the previous year's, despite a noticeable volume lag. Furthermore, we successfully elevated the comparable EBITDA margin to a record level, showcasing our pricing power and agility.
The margin on variable costs per ton has consistently improved throughout our transformation journey, driven primarily by the effective execution of our commercial and operational excellence initiatives. This positive trend, combined with timely and targeted cost reduction measures, allowed us to nearly compensate for the negative impact of lower volumes during the year. Factors such as inflation, interest rates, and a deteriorating geopolitical situation contributed to this cautious landscape.
As customer activity gradually recovers, we find ourselves well positioned to capitalize on emerging opportunities. Our structurally improved profitability enables us to deliver solid earnings growth and robust cash flow.
A more innovative and customer-centric Ahlstrom
Innovation lies at the core of Ahlstrom and our long-term value creation, driving our efforts to create positive change for people and the planet. In 2023, we built upon the innovation trajectory set in 2022, strengthening our product development and fostering a culture of co-innovation. Moreover, we have established focused innovation platforms that help us address the fundamental market trends that will shape Ahlstrom's future portfolio with an emphasis on solutions that are safe and sustainable by design.
During the year, we launched several new and improved products that support our customers’ business and ambitions. We kept close to our customers, resulting in a customer loyalty score close to the top quartile in our reference group. As we continue to innovate and push boundaries in partnership with our customers, I am confident that Ahlstrom will remain at the forefront of sustainable solutions, driving positive change.
Stronger and more sustainable business portfolio
During the year, we remained steadfast in fortifying Ahlstrom’s business portfolio and ensuring its resilience for the future. Noteworthy initiatives include the divestment of the unprofitable Stenay mill in France and the commissioning of new production lines for sustainable growth.
Additionally, in line with Ahlstrom’s commitment to science-based emissions reductions, we diligently progressed with our transition plan to combat climate change and our carbon dioxide emissions per ton of production decreased by 7%. Our safety performance improved and our total recordable incident rate decreased by 13% to 1.0, which is the lowest in the history of our company. Our employee engagement doubled during the year, which is a testament to the extremely high commitment of our teams. While several of these projects are firmly anchored in our commitment to sustainability, they also provide us with substantial business opportunities and form the basis for our future growth.
Looking ahead
I am very proud to work with our dedicated and passionate teams, who showed agility and performed exceptionally well in these rapidly changing market conditions. As customer activity gradually recovers, I have no doubt that Ahlstrom will continue to deliver solid earnings growth and drive sustainable value creation for all stakeholders. I am filled with confidence for what lies ahead as we continue to purify and protect, with every fiber for a sustainable world.
Earnings call for investors on February 29, at 15:00 EET
A live audiocast and teleconference call will be arranged today, February 29, at 15:00 EET (14:00 CET). The event will be hosted by President and CEO Helen Mets, and CFO Niklas Beyes.
Questions to the management can be asked either via the chat box in the audiocast or in person by phone in the conference call.
Audiocast registration link:
https://ahlstrom.videosync.fi/financial-results-2023
Teleconference registration link:
https://palvelu.flik.fi/teleconference/?id=10012324
After the registration to the teleconference, the participant will be provided with phone numbers and a conference ID to access the call. To ask a question, press *5 on your telephone keypad to enter the queue.
By joining the audiocast or teleconference, the participant agrees that personal information such as name and company name will be collected. The event will be recorded.
Additional information:
Johan Lindh, Vice President, Investor Relations, + 358 10 888 4994, johan.lindh@ahlstrom.com
Ahlstrom in brief
Ahlstrom is a global leader in combining fibers into sustainable specialty materials. Our purpose is to Purify and Protect, with Every Fiber, for a Sustainable World. Our vision is to be the Preferred Sustainable Specialty Materials Company for all our stakeholders. We serve five growing and distinctive end markets, which form the basis for our five divisions: Filtration, Food & Consumer Packaging, Healthcare, Building Materials, and Technical Materials. Our net sales in 2023 amounted to EUR 3.0 billion and we employ some 7,000 people. Read more at www.ahlstrom.com