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Glatfelter Reports Losses

Net sales in fourth quarter fell to $320 million

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Glatfelter generated net sales of $320 million in Q4 2023, down from $374 million in the fourth quarter of 2022.

Airlaid Materials’ fourth quarter net sales decreased $26.5 million to $ 127.5 million in the year-over-year comparison mainly driven by lower selling prices from cost pass-through arrangements and lower energy surcharges in Europe as both raw materials and energy input costs declined compared to last year. Shipments were 4.8% lower driven by declines in the tabletop categories mainly due to European market weakness and competition from lower cost alternate substrates as customers managed input costs. Currency translation was favorable by $3.2 million.

Composite Fibers’ net sales were $20.9 million lower to $115.4 million in the fourth quarter of 2023, compared to the year-ago quarter due to lower selling prices of $8.2 million, and overall shipments were down 11.3%, or when adjusting for the sale of Ober-Schmitten in the third quarter 2023, were down 6.7%. Currency translation was favorable by $3.4 million.

Spunlace’s net sales were $5.5 million lowerto $78 million in the fourth quarter of 2023 compared to the year-ago quarter, mainly driven by lower selling prices of $7.1 million due to cost pass-through arrangements, which were partially offset by higher year over year shipments of 4.1% and favorable currency translation of $0.6 million.

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