UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the precedi ...

Albany International Corp. (NYSE:AIN) Q4 2019 Results Conference Call February 11, 2020 9:00 AM ET Company Participants John Hobbs - Director of Investor Relations William Higgins - President and Chief Executive Officer Stephen Nolan - Chief Financial Officer and Treasurer Conference Call Participants John Franzreb - Sidoti & Company Kristine Liwag - Bank of America Merrill Lynch Pete Skibitski - Alembic Global Advisors Peter Arment - Robert W. Baird Gautam Khanna - Cowen & Company Operator Ladies and gentl ...

Financial Data and Key Metrics - Total company net sales increased by 8% YoY, or 9% excluding currency translation effects [6] - Operating income grew by over 36% YoY, and adjusted EBITDA increased by almost 14% [6] - Gross profit for the company was $104.1 million, up 12.7% YoY, with gross margin increasing by 170 basis points to 38.4% [16] - Net income attributable to the company was $40.0 million, up 44.2% YoY, with EPS at $1.24 compared to $0.86 last year [19] - Adjusted EBITDA grew 13.9% YoY to $71.4 million [20] Business Line Performance Engineered Composites (AEC) - Net sales grew by 27% YoY, or 28% excluding currency effects [11] - Adjusted EBITDA margin for AEC was 23.9%, well ahead of expectations [12] - AEC benefited from a favorable net change in the estimated profitability of long-term contracts, contributing $3.3 million in incremental profits [21][22] - Production of LEAP components is running ahead of deliveries, contributing to overperformance in 2019 [7][8] Machine Clothing (MC) - Net sales declined by 2.6% YoY on a currency-neutral basis, driven by declines in publication and pulp grades, partially offset by growth in packaging and tissue grades [14][16] - Gross margin improved to 52.4% from 50% YoY, driven by reduced depreciation, favorable mix, and material savings [14][16] - MC adjusted EBITDA was $55.8 million, or 36.9% of net sales, down slightly from $57.8 million last year [20] Market Performance - North America saw mid-single-digit revenue growth in MC, while Europe and Asia Pacific experienced declines [10] - Softness in the pulp and paper market is expected to impact MC revenues in North America in future periods [10][29] Strategic Direction and Industry Competition - The company is focused on operational excellence, new business development, and advanced technology to drive future success in AEC [13] - In MC, the company maintains a competitive advantage through scale, continuous improvement initiatives, and superior customer service [15] - The company is closely monitoring the Boeing 737 MAX situation, which could create top-line pressure for AEC if the slowdown extends into 2020 [13][28] Management Commentary on Operating Environment and Future Outlook - The company expects full-year 2019 revenue of $1.04 billion to $1.06 billion, with adjusted EBITDA of $250 million to $260 million [27] - For 2020, the company anticipates headwinds, including potential softness in MC revenues due to economic slowdowns and the impact of the Boeing 737 MAX situation [28][29] - The company remains optimistic about long-term growth opportunities, particularly in AEC [31] Other Important Information - Total debt decreased by $58 million to $424 million, with a leverage ratio of 1.42 under the credit agreement [23] - Capital expenditures in Q3 were $14 million, with investments focused on supporting AEC ramp-ups [23] Q&A Session Summary Question: LEAP-1B Accounting and Inventory Build - The company is recognizing revenue and profit on LEAP components produced but not yet delivered, leading to a build in contract assets rather than inventory [32][34] - Inventory build is limited to a few weeks and is managed in coordination with Safran [32][33] Question: Cost-Plus Incentive Fee Contract Structure for LEAP - The cost-plus fee structure mitigates financial downside, with fixed costs recoverable and gross profit rates remaining stable [41][42] - Incentive fees can increase gross profit rates as production costs decrease [42] Question: Boeing 787 Production Rate Cut - The company does not expect a major impact from the Boeing 787 production rate cut, as the program represents a small portion of total revenue [46] Question: F-35 Program and Capex - The company has sufficient capacity to meet F-35 production demands without significant additional capex [48] Question: Machine Clothing Margins and Market Softness - MC margins improved due to favorable mix, material savings, and productivity gains, but the company remains cautious about potential softness in North America [52][53] - The company expects continued erosion in publication grade PMC sales, offset by growth in packaging and tissue grades [54] Question: Long-Term Contract Revisions - The $3.3 million favorable revision in Q3 was driven by strong operational performance and spans multiple programs [61][63] Question: LEAP Production Rates - LEAP production rates are driven by Safran's demand, with production running ahead of deliveries but expected to decrease in Q4 [65][66] Question: M&A Pipeline - The company is exploring inorganic growth opportunities but is cautious about valuations, targeting double-digit IRR and strong synergies [70][72]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File No. 1-10026 ALBANY INTERNATIONAL CORP. (Exact name of registrant as specified in its charter) Delaware 14-0462060 (State or ...

Albany International Corp. (NYSE:AIN) Q2 2019 Earnings Conference Call July 31, 2019 9:00 AM ET Company Participants Stephen Nolan - CFO and Treasurer Olivier Jarrault - CEO Conference Call Participants Peter Arment - Robert W. Baird Christian Herbosa - Noble Capital Markets Operator Ladies and gentlemen, thank you for standing by, and welcome to the Second Quarter Earnings Call of Albany International. [Operator instructions] At the request of Albany International, this conference call on Wednesday, July 3 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission File No. 1-10026 ALBANY INTERNATIONAL CORP. (Exact name of registrant as specified in its charter) Delaware 14-0462060 (State or othe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (√) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2019 OR ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 1-10026 ALBANY INTERNATIONAL CORP. (Exact name of registrant as specified in its charter) Delaware 14-0462060 (Stat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (x) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2018 OR ( ) TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission file number: 1-10026 ALBANY INTERNATIONAL CORP. (Exact name of registrant as specified in its charter) | --- | --- | |--------- ...

Albany International Corp/DE/ (NYSE:AIN) Q4 2018 Results Earnings Conference Call February 12, 2019 9:00 AM ET Company Participants John Cozzolino - CFO and Treasurer Olivier Jarrault - CEO Conference Call Participants John Franzreb - Sidoti & Company Christian Herbosa - Noble Capital Markets Pete Skibitski - Alembic Global Operator Ladies and gentlemen, thank you for standing by. Welcome to the Fourth Quarter Earnings Call of Albany International. At this time, all participants are in a listen-only mode. L ...