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Ahlstrom-Munksjö Decor close to 2019’s performance

09.11.2020 − 

Resurgent demand since mid-June after a Covid-related collapse in April and May has allowed the Decor Solutions division at Ahlstrom-Munksjö to deliver a marked improvement in its capacity utilisation and higher sales in the third quarter. However, this growth in sales coincided with a fall in average sales prices and unfavourable currency effects. Third-quarter revenues slipped 2.7% to €96.7m as a result. The second quarter had ended with a 37.6% fall to €65.0m. Ahlstrom-Munskjö Decor had booked revenues in the triple digits in the fourth quarter of 2019 (-9.9% to €103.7m) and the first quarter (-5.3% to €106.2m).

Earnings, which were still in marginally positive territory in the second quarter, were back at roughly at the level seen in the fourth quarter and the first quarter between July and September. The impact on earnings of lower sales prices was erased by higher sales and falling raw material costs. EBITDA adjusted for extraordinary effects, which was negligible at €0.1m, was 47.8% higher in a year-on-year comparison at €10.2m; the resulting EBITDA ratio showed a similar jump to 10.5 %. Total EBITDA was listed at €10.1m. Adjusted EBITDA tumbled to €0.6m and the ratio to 0.9% in the second quarter. The company had reported first-quarter adjusted EBITDA of €12.7m and a ratio of 11.9%.

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