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Ahlstrom January-March 2015 interim report: Clear improvement in operating profit driven by better pricing and product mix

Ahlstrom Corporation STOCK EXCHANGE RELEASE April 28, 2015 at 08.30

This is a summary of the January-March 2015 interim report. The complete
report with tables is attached to this release and available

Ahlstrom January-March 2015 interim report

Clear improvement in operating profit driven by better pricing and product mix

January-March 2015 compared with January-March 2014

* Net sales EUR 271.8 million (EUR 249.2 million), showing an increase of
* Operating profit excluding non-recurring items EUR 12.0 million (EUR 7.2
* Operating margin excluding non-recurring items 4.4% (2.9%).
* Profit before taxes EUR 13.8 million (EUR 5.2 million), including a EUR 6
million capital gain booked from the sale of Munksjö Oyj shares.
* Earnings per share EUR 0.17 (EUR 0.05).
* Comparable net sales at constant currencies remained flat, as better
pricing and product mix were offset by lower volumes. Reported net sales
growth was primarily driven by a favorable currency effect.
* Sixth consecutive quarter of year-on-year improvement in profitability
excluding non-recurring items as Filtration, and Food and Medical
businesses continued to improve their performance.

Outlook for 2015

* Ahlstrom reiterates the outlook published on January 29, 2015. The company
expects net sales in 2015 to be in the range of EUR 1,000-1,100 million.
The operating profit margin excluding non-recurring items is expected to be
3.5-5% of net sales.

Key figures

| EUR million Q1/2015 Q1/2014 Change, % 2014 |
| Net sales 271.8 249.2 9.1 1,001.1 |
| EBITDA excl. NRI 26.2 18.9 38.6 78.6 |
| % of net sales 9.6 7.6 7.9 |
| Operating profit 12.7 4.4 188.6 -3.7 |
| % of net sales 4.7 1.8 -0.4 |
| Operating profit excl. NRI 12.0 7.2 66.5 28.6 |
| % of net sales 4.4 2.9 2.9 |
| Profit before taxes 13.8 5.2 167.7 -9.4 |
| Profit for the period 8.8 3.1 188.0 -10.3 |
| Earnings per share 0.17 0.05 N/A -0.22 |
| Return on capital employed, % 8.1 3.4 -0.5 |
| Net cash flow from operative activities* -1.5 -6.1 74.8 35.4 |
| Capital expenditure 3.0 9.0 -66.3 45.4 |
| Interest-bearing net liabilities* 254.0 281.3 -9.7 253.8 |
| Gearing ratio*, % 74.0 87.7 79.3 |
| Equity ratio*, % 34.3 32.4 34.8 |
| Number of personnel, at the end of period 3,381 3,502 -3.5 3,401 |
EBITDA = operating profit before depreciation and amortization, excluding
non-recurring items

* Including discontinued operations.

Marco Levi, President&CEO

"We continued to improve our financial performance in the quarter, driven by
improved results in the Filtration and the Food and Medical business areas.
We have seen a positive impact from our enhanced pricing and product mix,
while foreign currency fluctuations also had a positive impact. The Building
and Energy business area suffered from low volumes and an adverse currency

"The program to improve the results of our commercial operations has now been
extended to all our business areas, and the benefits are already visible. We
are also moving ahead at full speed with the other key priorities of our
roadmap, and will continue to focus on selling, general and administrative
cost reductions by streamlining our office structure."


Ahlstrom reiterates the outlook published in January 29, 2015. The company
expects net sales in 2015 to be in the range of EUR 1,000-1,100 million. The
operating profit margin excluding non-recurring items is expected to be
3.5-5% of net sales.

In 2015, investments excluding acquisitions are estimated to be approximately
EUR 35 million (EUR 45.4 million in 2014).

Short-term risks

Uncertainly related to the global economic growth poses risks to Ahlstrom's
financial performance. Slower-than-anticipated growth may lead to lower sales
volumes and force the company to initiate more market-related shutdowns at
plants, which could affect profitability.

Further swings in foreign currency exchange rates may lead to fluctuations in
net sales and profitability. Combined with the uncertainty related to global
economic growth and increased volatility in our main markets, it is more
challenging to forecast future developments.

Ahlstrom's main raw materials are wood pulp, chemicals, and synthetic fibers.
The prices of these key raw materials are volatile, and possible increases
can affect the company's profitability depending on its ability to mitigate
the risk.

In recent years, Ahlstrom has undertaken investment projects, such as the
wallcoverings production line in Binzhou, China, that are in a start-up
phase. The company's financial results may be negatively affected by the
performance of the new production lines.

The general risks facing Ahlstrom's business operations are described in
greater detail on the company website at and in the report
by the Board of Directors in the company's Annual Report for 2014. The risk
management process is also described in the Corporate Governance Statement,
also available on the company's website.

This report contains certain forward-looking statements that reflect the
present views of the company's management. The statements contain
uncertainties and risks and are thus subject to changes in the general
economic situation and in the company's business.

Disclosure procedure

Ahlstrom publishes its January-March 2015 interim report enclosed to this
stock exchange release. The report is attached to this release in pdf format
and is also available on the company's web site

Additional information

Marco Levi, President&CEO, tel. +358 (0)10 888 4700
Sakari Ahdekivi, CFO, tel. +358 (0)10 888 4768

Ahlstrom's President&CEO Marco Levi and CFO Sakari Ahdekivi will present the
report at an analyst and press conference in Helsinki on Tuesday, April 28 at
11:00 a.m. Finnish time. The event will take place atAhlstrom's head office,
Alvar Aallon katu 3 C
, second floor, meeting room Antti.

The combined web- and teleconference will be held in English and can be viewed
at the following

To participate via telephone, please dial +358 (0)9 2313 9201 in Finland or
+44 (0)20 7162 0077 outside Finland a few minutes before the conference
begins. The confirmation code is 952611.

An on-demand webcast including slides is available for viewing and listening
on the company website for one year after the conference call.

The presentation material will be available the
report has been published.

Financial information in 2015

| Report Date of publication Silent period |
| Interim report January-June 2015 Wednesday, August 6 July 1- August 6 |
| Interim report January-September 2015 Wednesday, October 28 October 1-28 |
During the silent period, Ahlstrom will not communicate with capital market

Ahlstrom in brief

Ahlstrom is a high performance fiber-based materials company, partnering with
leading businesses around the world to help them stay ahead. We aim to grow
with a product offering for clean and healthy environment. Our materials are
used in everyday applications such as filters, medical fabrics, life science
and diagnostics, wallcoverings and food packaging. In 2014, Ahlstrom's net
sales amounted to EUR 1 billion. Our 3,400 employees serve customers in 22
countries. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. More
information available at

January-March 2015


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ahlstrom Oyj via Globenewswire


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