Ahlstrom Q3 sales up despite operating result hit by abrasives impairment

Core Insights - Ahlstrom reported net sales of €743.1 million ($861.7 million) for Q3 2025, a slight increase from €742.7 million in the same period last year, with a 4% rise on a constant currency basis due to the acquisition of Stevens Point [1] Financial Performance - Comparable EBITDA improved to €139.6 million, up from €130.2 million a year earlier, representing 18.8% of net sales compared to 17.5% previously [2] - Reported EBITDA increased to €123.9 million, compared to €81.9 million in the previous year [2] - Operating result declined to €16.3 million from €35.6 million, primarily due to impairment losses of €55.7 million related to the abrasives business classified as assets held for sale [2] Net Loss - The company posted a net loss of €54.6 million for the quarter, compared to a loss of €24.3 million a year earlier [3] Management Commentary - Ahlstrom's president and CEO, Helen Mets, noted that despite softened overall market demand, sales increased by 4% at constant currency rates, maintaining a strong margin on variable costs per tonne [4] - The company achieved a record-high EBITDA margin of 18.8% this quarter, supported by disciplined pricing and cost control [4] - Operating cash flow remained stable during the quarter [4] Sustainability Achievement - Ahlstrom secured a platinum medal in the EcoVadis sustainability assessment, with an overall score of 86 out of 100, improving from the 2024 result and placing the company among the top 1% of assessed companies since October 2024 [5]