Ahlstrom financial Report January – June 2026 published

AHLSTROM OYJ, PRESS RELEASE, July 30, 2026, at 09:00 EEST 
 
Ahlstrom has today published the Financial Report January – June 2026 for Ahlstrom Oyj. The report is available at www.ahlstrom.com/investors. Earnings call for investors will be held today at 15:00 EEST (14:00 CEST). 

Highlights 

• Sales increased supported by growing customer demand, innovation-led opportunity pipeline and Stevens Point acquisition 

• Comparable EBITDA increased by 16% year-on-year, representing an 18.1% margin. 

• Planned actions on track, including strategic improvement initiatives announced February 2026 and integration of Stevens Point and EBF 

• Solid cash flow generation and enhanced liquidity 

• Successful extension and upsizing of the revolving credit facility (RCF) providing the Group with greater financial flexibility 

• USD Term Loan successfully refinanced early July, as a result the maturity of 80% of our financial debt structure is extended to 2030 

Helen Mets, President and CEO, commented:  

"Ahlstrom delivered an outstanding performance in the second quarter of 2026, driven by sales growth and disciplined execution of strategic improvement initiatives. Growth momentum strengthened as customer demand improved, supported by our leading market positions, a growing innovation-led opportunity pipeline, and the contribution from the Stevens Point and EBF acquisitions. 

This resulted in a clear improvement in sales and profitability during the quarter. Sales increased by 6% year-on-year, while margin on variable costs reached a record EUR 1,145 per ton. Comparable EBITDA increased by 16% year-on-year, representing an 18.1% margin. Cash flow remained solid, and liquidity was further strengthened through the extension of our revolving credit facility and the early July refinancing of our US dollar Term Loan. 

Profitability was further supported by the continued disciplined execution of our strategic improvement initiatives. Earlier this year, we made decisive choices to further optimize our manufacturing footprint, including the closure of the Radcliffe plant and the Mosinee pulp mill. These actions are progressing according to plan and enhance our earnings potential. 

At the same time, we continue to benefit from our continued focused M&A strategy, which is contributing to both growth and profitability, while strengthening our position in attractive end markets. 

Innovation remains one of our most important growth engines and this quarter we saw an increase in the number of products we launched, including ChemoGard BVB protective apparel fabric for chemotherapy drug handling, and advancements in the FortiCell® energy storage portfolio supporting battery applications. I am also proud to report that our customer loyalty score further improved from an already top decile score. 

Once again, our global footprint and local-for-local operating model demonstrate its strength in a dynamic geopolitical environment. While broader market impacts remain difficult to assess, the direct impact on Ahlstrom’s operations has been limited. In addition, our leading market positions have enabled us to pass through higher energy and logistics costs.  

The progress we made in the second quarter is highly encouraging, reflecting the strength of our strategy, the quality of our execution, and the dedication of our teams across Ahlstrom. The progress made is also a true team effort. So thanks to all who contributed; our employees for their dedication, our customers for their trust, and our partners for their collaboration in realizing our ambition: to purify and protect, with every fiber, for a more sustainable world." 

 
Financial and Operational Highlights Q2/2026¹   

• Accelerated commercial momentum drove reported net sales up 6% to EUR 786 million (745), supported by growing customer demand and continued progress in the innovation-led opportunity pipeline 

• Margin on variable costs (MoVC) per ton amounted to EUR 1,145 (1,116), up 3%, our highest level ever, reflecting improved portfolio mix, pricing-, procurement- and operational excellence. At constant currencies MoVC per ton was up 4% to EUR 1,160 

• Comparable EBITDA increased by 16% to EUR 142 million (123), corresponding to an improved margin of 18.1% (16.5%) of net sales 

  • Profitability in the Core² divisions continued to strengthen, with comparable EBITDA margin improving to 20.6% (18.2%) 

  • Adjusted for business portfolio changes, Core divisions’ comparable EBITDA at constant currencies was 14% up to EUR 114 million (100) or 19.5% of net sales (17.8%) 

• Reported EBITDA increased to EUR 128 million (107), including EUR -12 million (-14) of items affecting comparability 

• Operating cash flow improved to EUR 53 million (27) 

• Net indebtedness at EUR 2,641 million (Q1/2026: 2,653), reflecting improved cash generation 

¹⁾ Comparing figures for Q2/2025 between brackets unless indicated differently 

²⁾ Core divisions include Filtration & Life Sciences, Food & Consumer Packaging and Protective Materials 

Financial and Operational Highlights Q1-Q2/2026³  

• Net sales increased to EUR 1,524 million (1,484), reflecting momentum across the business 

• Comparable EBITDA increased with 13% to EUR 261 million (230), representing 17.1% (15.5%) of net sales, supported by acquisitions and a higher margin on variable costs per ton 

• Reported EBITDA decreased to EUR 191 million (207) due to higher items affecting comparability of EUR -67 million (-20) for the strategic improvement initiatives announced in Q1 

• Operating result was EUR 69 million (114), primarily affected by items affecting comparability and impairment charges associated with the announced strategic improvement initiatives 

³⁾Comparing figures for Q1-Q2/2025 between brackets unless indicated differently 

 
Earnings call for investors on July 30 at 15:00 EEST (14:00 CEST) 

A combined live audiocast and teleconference will be arranged today, Thursday July 30, 2026, at 15:00 EEST (14:00 CEST). The event will be hosted by President and CEO Helen Mets and CFO Niklas Beyes.     

Questions to the management can be asked either via the chat box in the audiocast or by phone in the conference call.     

Audiocast registration link: https://ahlstrom.videosync.fi/q2-2026

Teleconference registration link: https://player.videosync.fi/ahlstrom/q2-2026/dial-in

After the registration to the teleconference, the participant will be provided with phone numbers and a conference ID to access the call. To ask a question, press #5 on your telephone keypad to enter the queue.    

By joining the audiocast or teleconference, the participant agrees that personal information such as name and company name will be collected. The event will be recorded.    

For further information, please contact 

For media: Annemiek Voorzee, Vice President Communications, annemiek.voorzee@ahlstrom.com   

For investors: IR@ahlstrom.com  

Ahlstrom in brief 

Ahlstrom is a global leader in combining fibers into sustainable specialty materials. Our purpose is to Purify and Protect, with Every Fiber, for a Sustainable World. Our vision is to be the leading Sustainable Specialty Materials Company for all our stakeholders. Our three Core divisions, Filtration & Life Sciences, Food & Consumer Packaging, and Protective Materials, address global trends with safe and sustainable solutions. Our net sales in 2025 amounted to EUR 2.9 billion and we employ some 7,000 people. Read more www.ahlstrom.com.