Ahstrom reports loss in third quarter
Ahlstrom's net sales in the third quarter amounted to 389.7 million Euros, compared to 413.0 million Euros the same period last year. The operating result is -17.3 millioj Euros (14.1). Operating result excluding non-recurring items is 8.0 million Euros (13.8 million).Earnings per share are -0.47 Euros (0.00).For the first nine months of the year Ahlstrom's operating profit is 24.3 million Euros (55.5 million), excluding non-recurring items 48.0 million Euros (54.0 million). Earnings per share for the first nine months of 2011 are -0.17 Euros (0.33)."Our main markets did not recover in September as we had expected. We anticipate that the market slowdown will continue, and as a result we changed our guidance for 2011 earlier this month," said Jan Lång, CEO of Ahlstrom."We are taking firm action to address our underperforming businesses and to streamline further our cost base to gain efficiencies in the supply chain structure. This unfortunately also leads to personnel reductions, which are necessary in order for us to remain competitive and profitable," Lång added. /AA