Glatfelter (US:GLT)2021-02-05 17:19Financial Performance - Q4 2020 - Adjusted EBITDA reached $30 million, surpassing expectations[4] - Adjusted EPS stood at $0.22, exceeding forecasts[4] - Adjusted free cash flow increased by $33 million compared to the previous year, driven by stronger earnings, reduced working capital usage, and lower cash taxes[4] - Net leverage was at 1.8x as of December 31, 2020, indicating a strong balance sheet[4] Segment Highlights - Q4 2020 - Composite Fibers net sales were $137.822 million with an EBITDA margin of 15.6%[6] - Airlaid Materials net sales reached $97.460 million with an EBITDA margin of 15.3%[9] - Composite Fibers' revenue decreased by 1.4% on constant currency, but volume increased by 2%[8] - Airlaid Materials' revenue decreased by 5.2% on constant currency, with volume down by 3%[11] Strategic Initiatives and Outlook - Glatfelter announced the acquisition of Georgia-Pacific's US nonwovens business for $175 million[4] - Post-acquisition, the Airlaid segment is projected to comprise approximately 48% of total sales and 53% of EBITDA[22] - Corporate costs are estimated to be approximately $27 million in 2021[15]