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Mativ Reports Sales Growth

Sales reach $647.1 million in Q3

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

In the third quarter of 2022, Mativ’s sales increased 76% to $674.1 million with 12% constant currency organic sales growth, or 7% organic growth including negative currency impacts; strong sales growth in release liners, protective solutions, filtration, and paper and specialty packaging led the portfolio.

Advanced Technical Materials (ATM) segment sales were $426.1 million, up 64%, and reflect the merged company results versus the prior year period which reflected only legacy SWM results. Organic sales increased 6%, or 12% excluding negative currency impacts, driven primarily by price increases, and comparable Adjusted Operating Profit increased 28%. Strong double-digit sales growth in release liners and protective solutions, as well as gains in filtration led the portfolio. Price increases exceeded inflationary pressures across ATM, delivering margin expansion versus prior year. While costs for certain raw materials, such as polypropylene resin have moderated, energy costs have risen substantially since mid-year, particularly in Europe, and are expected to remain elevated in the near-term; the company continues to implement price increases and surcharges in response to energy and other inflationary pressures.

Fiber-Based Solutions (FBS) segment sales were $248 million, up 101%, and reflect the merged company results versus the prior year period which reflected only legacy SWM results. Organic sales growth was 7%, or 12% excluding negative currency impacts, driven primarily by price increases, and comparable Adjusted Operating Profit increased 6%. Double digit sales growth in packaging and specialty papers led the portfolio. Price increases exceeded inflationary pressures for the segment. Energy costs have risen substantially since mid-year, particularly in Europe, and are expected to remain elevated in the near-term; the company continues to implement price increases and surcharges in response.

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