Ahlstrom reports an operating profit of EUR 96.1 million for full year 2006 (EUR 117.2 million). Profit before taxes was EUR 81.2 million (EUR 100.7 million). Return on capital employed (ROCE) was 10.4% (12.4%).
Net sales amounted to EUR 1,599.1 million (EUR 1,552.6 million) and earnings per share (EPS) to EUR 1.31 (EUR 1.71). The Board of Directors proposes a dividend of EUR 1.00 (EUR 1.79) per share to be paid for the financial year 2006.
Excluding non-recurring items, the operating profit for full year 2006 was EUR 87.3 million (EUR 99.0 million). Profit before taxes was EUR 72.5 million (EUR 82.5 million) and ROCE was 9.5% (10.5%), both excluding non-recurring items.
October-December 2006 in brief:
• Net sales grew by 3.9% (adjusted for currency effect)
• High raw material and energy costs put pressure on margins
• European Commission closed its investigation related to an alleged cartel in the label papers sector
• Ahlstrom announced four growth investments on three continents, valued in total at approximately EUR 54 million.
Jukka Moisio, President & CEO, comments Ahlstrom's year 2006:
• The year 2006 marked a major change for Ahlstrom, as the company made a successful initial public offering on the Helsinki Stock Exchange. The IPO provided us with good financial resources that were further strengthened by good operative cash flow of 2006.
During the year, we implemented our strategy through announcing and starting up several growth investments. We divested non-core assets as well as streamlined the company structure. Our comparable net sales grew by 5% and return on capital employed, our most important financial target, was 10.4%.
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