Ahlstrom’s sales dropped in the second quarter 4.5 percent to €253 million ($338mn), down from €265 million ($354mn) in the same period last year. However operating profit grew to €9.6 million ($12.8mn) from €6.4 million ($8.5mn) the year before.

“We have improved our profitability for three consecutive quarters, demonstrating our ability to enhance financial performance,” says president and CEO Marco Levi. “In particular the advanced filtration, food, and transportation filtration business areas increased their profit margins. I am very pleased that our ongoing rightsizing program is progressing as planned and the benefits can already be seen in our operating result.”

In the advanced filtration business area, growth continued in the gas turbine and industrial filtration applications, particularly in North America and Asia. The markets for laboratory and life science, water and high efficiency air applications were somewhat softer.

In the building and energy business area, demand for construction-related materials such as flooring applications was stable in Europe, but continued to soften in Russia. The market for reinforced glass fiber products for the wind energy industry in Europe remained low, whereas it started to recover in North America supported by tax incentives. Demand for wallpaper and wallcovering substrates softened in Europe, while it strengthened in China.

In the food business area, demand for beverage, food packaging and tape products continued to be solid in all main geographical regions except for South America. Growth continued in the single-use coffee products market.    

In the medical business area, demand for medical fabrics was stable in Europe and North America, while it strengthened in Asia, supported by the growing trend for single-use products.

In the transportation filtration business area, solid growth continued in the transportation filtration materials markets in Asia, North America and Europe. In South America, the market continued to show positive signs following a slowdown in the second half of 2013.