Schweitzer-Mauduit International, Inc. ("SWM") reported earnings results for the three month and full year periods ended December 31, 2018. In the 4Q 2018, consolidated sales were $248.7 million, up 6% (no acquisition benefit), as the company said in the press release received by Lesprom Network.
GAAP operating profit was $26.8 million, up 27%, and GAAP operating profit margin was 10.8%. Adjusted operating profit was $32.2 million, up 6% and adjusted operating profit margin was 12.9%, flat with the prior year period. Adjusted EBITDA was $41.8 million, up 3%, and adjusted EBITDA margin was 16.8%, down 40 basis points.
FY 2018 consolidated sales were $1,041.3 million, up 6%, and 5% on an organic basis (assuming SWM had owned Conwed for the full 1Q 2017).
GAAP operating profit was $135 million, up 5%. Adjusted operating profit was $157.4 million, down 2%, and adjusted operating profit margin was 15.1%, down 130 basis points. Adjusted EBITDA was $196.9 million, down 1%, and adjusted EBITDA margin was 18.9%, down 130 basis points.
SWM is a leading global provider of highly engineered papers, films, nets, and non-wovens for a variety of applications and industries.
