Ahlstrom has published its Financial Statements 2025, reporting resilient sales and improved profitability despite softer market conditions.
Net sales amounted to EUR 2,930 million, compared with EUR 2,965 million in 2024. At constant currency, sales grew by 1.4%.
Comparable EBITDA increased to EUR 473 million (2024: EUR 451 million), resulting in a record comparable EBITDA margin of 16.1%, up from 15.2% a year earlier. The improvement was driven by acquisitions and the underlying performance of the company’s core divisions.
Margin on Variable Costs per ton (MoVC) rose to EUR 1,097, up from EUR 987 in 2024, reflecting disciplined pricing and procurement savings.
Operating cash flow totaled EUR 141 million, compared with EUR 227 million the previous year. The decline was mainly related to one-off items, including excess payments tied to the minority squeeze-out and transaction costs.
During 2025, Ahlstrom completed several portfolio actions. The company acquired Stevens Point operations in Food & Smart Packaging and EBF in Lab & Life Sciences, divested its non-core Abrasives business, and established a Performance Materials Cluster to sharpen focus on its core divisions: Filtration & Life Sciences, Food & Consumer Packaging, and Protective Materials.
The squeeze-out of minority shareholders was finalized during the year. As of January 2, 2026, Ahlstrom Holding 3 Oy changed its name to Ahlstrom Oyj.
“In 2025, Ahlstrom strengthened its position as a leading sustainable specialty materials company through disciplined execution of our strategic agenda,” said President and CEO Helen Mets. She noted that profitability improved despite softer demand conditions, supported by pricing discipline, procurement savings and acquisitions.
Ahlstrom is a global leader in fiber-based specialty materials. The company’s purpose is to Purify and Protect, with Every Fiber, for a Sustainable World. Its three core divisions — Filtration & Life Sciences, Food & Consumer Packaging, and Protective Materials — serve global markets with safe and sustainable solutions. In 2025, Ahlstrom reported net sales of EUR 2.9 billion and employed approximately 7,000 people worldwide.
Source: Ahlstrom
