Ahlstrom Holding 3 Oy (AM1S) Investor Presentation summary

Company overview

• Global leader in sustainable specialty materials, holding top positions in niche segments and serving over 6,000 customers in 100+ countries.

• Operates 35 manufacturing facilities across 13 countries, with a strong local-for-local supply model.

• FY 2024 net sales reached €3.0bn and comparable EBITDA was €451m (15.2% margin).

• Focuses on innovation, with 31% of sales from new products launched in the last five years and a robust R&D pipeline.

• Recognized for sustainability, achieving EcoVadis Platinum and SBTI-verified climate targets.

Financial performance and transformation

• Record financial performance in 2024, with all-time high profitability and strong cash flow.

• Q1 2025 saw increased customer activity, higher deliveries, and a 5% net sales growth (excluding divested Aspa).

• Comparable EBITDA margin improved to 14.6% in Q1 2025, driven by pricing, procurement, and operational excellence.

• Ongoing transformation initiatives have increased margin on variable costs per ton by over 40% since 2020.

• Strong cash flow supported by disciplined cost management and lower investments.

Acquisition of Stevens Point

• Signed a binding agreement on April 3, 2025, to acquire Stevens Point, a high-end food packaging and label solutions provider in North America.

• Stevens Point reported $332m net sales and $73m adjusted EBITDA (22% margin) in 2024.

• Acquisition increases exposure to resilient North American food packaging markets and enhances profit margins and cash generation.

• Expected cost and revenue synergies of $13-15m, with limited integration risk due to standalone operations and existing salesforce.

• Strengthens Ahlstrom’s leadership in sustainability-driven packaging and supports its North American growth strategy.