Schweitzer-Mauduit International’s 1Q 2017 consolidatednet sales were $233.3 million, up 9%, but decreased 4% on an organic basis.The Conwed acquisition contributed $26.6 million of incremental net sales, as the company said in the press release received by Lesprom Network.
GAAP operating profit was $26.6 million, down 16%, and GAAP operating profit margin was 11.4%, down 330 basis points.
Adjusted operating profit was $35.6 million, down 2%, and adjusted operating profit margin was 15.3%, down 170 basis points.
1Q 2017 adjusted EBITDA was $43.9 million, down 5%, and adjusted EBITDA margin was 18.8%, down 280 basis points.
Frederic Villoutreix, Co-CEO, commented, "1Q Adjusted EPS of $0.66 was a solid start to the year, and we are pleased with several positive themes throughout the business relating to both our 2017 performance and longer-term outlook. We have returned to delivering organic sales growth in AMS, as surface protection films led the portfolio with solid double-digit gains. AMS segment margins benefited from strength of these high value products, the positive mix effect of exiting certain commodity-grade industrial sales, and the addition of Conwed's high margin operations."
SWM is a leading global provider of highly engineered solutions and advanced materials for a variety of industries. SWM also manufactures specialty papers.
