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Glatfelter: Overlay paper revenues marginally lower

19.11.2020 − 

P.H. Glatfelter Co., which was renamed Glatfelter Corp. and moved its headquarters to Charlotte, North Carolina with effect from 1 October, generated revenues of US$8.6m from its overlay paper operations in the third quarter. This figure was 2.5% lower than last year. Overlay paper revenues had tumbled by 13.4% in the second quarter in the wake of the pandemic to land at US$8.1m. The first quarter had ended with a 15.2% jump to US$9.8m. Glatfelter generated revenues of US$26.5m from its Composite Laminates business unit, which pools its overlay paper operations, between January and September. Revenues from its tea bag and coffee filter paper business, which is part of its Food & Beverage business unit, increased by 2.2% to US$213.1m. Technical Specialties posted a 4.1% rise to US$61.3m.

By contrast, revenues from its Wallcovering operations dropped by 10.1% to US$55.9m, while revenues from Metallized activities fell by 7.3% to US$30.5m. Total revenues from its Composite Fibers business unit (CFBU) were slightly lower than last year in the nine-month period. The third quarter ended with a 3.7% upturn in the CFBU’s revenues to US$132.4m, putting them at a similar level to the first quarter (+3.1% to US$132.7m). However, revenues had tumbled by 7.9% to US$122.1m in the second quarter. The CFBU’s sales volumes, which were also 4.8% higher than last year at 35,009 tonnes, came close to the first quarter’s level again (+14.1% to 35,983 tonnes). Sales had been down 15.9% at 29,032 tonnes in the second quarter.

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