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 asrobust as the previous year's, despite anoticeable volume lag. Furthermore, we successfully elevated the comparable EBITDA margin to a record level, showcasingourpricing 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 timelyand targeted cost reduction measures, allowed us to nearly compensate for the negative impact of lower volumes during the year. Factors such asinflation, interest rates, and a deteriorating geopolitical situationcontributed to thiscautious landscape.

As customer activity gradually recovers, we find ourselves well positionedto capitalize on emerging opportunities. Our structurally improved profitability enables us to deliver solid earnings growth and robust cash flow.

A more innovativeand customer-centricAhlstrom

Innovation lies at the core ofAhlstrom andour 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 establishedfocused innovation platforms that help us addressthe fundamental market trends that will shape Ahlstrom's future portfolio with an emphasis onsolutions that aresafe and sustainable by design.

During the year, we launched several new and improved productsthat support our customers'business and ambitions. We keptclose to our customers, resulting in a customer loyalty scorecloseto thetop quartilein our reference group. As we continue to innovate and push boundariesin 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 remainedsteadfast infortifyingAhlstrom's business portfolio and ensuringits resilience for the future. Noteworthy initiatives include the divestment of the unprofitable Stenaymill in France and the commissioning of new production linesfor 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 andour carbon dioxide emissions per ton of production decreased by7%.Our safety performanceimprovedand our total recordable incident rate decreased by 13% to 1.0, which is the lowestin the history of our company.Ouremployee engagement doubled during the year, which is a testament to theextremelyhigh 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 topurify 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.

Additionalinformation:

Johan Lindh, Vice President, Investor Relations, + 358 10 888 4994, [email protected]

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

Public link

Please use the above public link if you want to share this noodl on another website.