Mativ(US:MATV)2025-05-08 13:08Financial Performance - The company's Q1 FY25 sales were $484.8 million, essentially flat compared to $500.2 million in Q1 FY24[5] - Organic sales remained nearly unchanged, with $484.8 million in Q1 FY25 versus $483.9 million in Q1 FY24[5] - Adjusted EBITDA decreased by 19%, from $45.8 million in Q1 FY24 to $37.2 million in Q1 FY25[5] - GAAP EPS was $(7.82) in Q1 FY25, which included a non-cash goodwill impairment charge of $411.9 million ($7.57 per share)[5, 7] - Adjusted EPS was $(0.14) in Q1 FY25, compared to $0.02 in Q1 FY24[5] - The company anticipates a material step-up in adjusted EBITDA starting in Q2[5] Segment Results - FAM (Fibers and Additives Materials) sales decreased by 7%, from $202.7 million in Q1 FY24 to $187.6 million in Q1 FY25[11] - FAM Adjusted EBITDA decreased by 30%, from $33.2 million in Q1 FY24 to $23.3 million in Q1 FY25[11] - SAS (Sustainable and Adhesive Solutions) organic sales increased by 6%, from $281.2 million in Q1 FY24 to $297.2 million in Q1 FY25[11] - SAS Adjusted EBITDA increased by 3%, from $32.3 million in Q1 FY24 to $33.3 million in Q1 FY25[11] Strategic Initiatives - The company is targeting $10 million - $15 million of cost reductions in 2025, in addition to the previously announced $20 million wave by year-end 2026[14] - Capital expenditures are targeted at $40 million in 2025, a reduction from $55 million incurred in 2024[14] - The company aims for a $20 million - $30 million inventory reduction by year-end 2025[14]