Mativ Holdings, Inc. reported a net loss of $48.7 million for the fiscal year ending December 31, 2024, on total net sales of $1,981.1 million. This represents a decrease in revenue of $44.9 million, or 2.2%, compared to the previous year. The decline was attributed to lower sales volumes and selling prices across its segments, particularly in the Filtration & Advanced Materials (FAM) segment, which saw a 5.4% drop in net sales to $766.5 million. The Sustainable & Adhesive Solutions (SAS) segment experienced a marginal decrease of 0.1%, with net sales totaling $1,214.6 million.
The company underwent significant changes during the fiscal year, including the divestiture of its Engineered Papers business, which was completed on November 30, 2023, for $620 million. This strategic move allowed Mativ to exit the tobacco-based product market and refocus on its core segments. The divestiture is reflected in the financial statements as a discontinued operation, and the company has since reorganized into two reportable segments: FAM and SAS. This restructuring aims to streamline operations and enhance customer support while reducing overhead costs.
Operationally, Mativ's workforce consisted of approximately 5,100 employees as of December 31, 2024, with a notable presence in North America and Europe. The company has also made investments in expanding its manufacturing capabilities, including new production lines in Germany and Italy, which are expected to support growth in key markets such as transportation and healthcare. The company reported a reduction in its manufacturing footprint, consolidating from 48 facilities at the time of the merger to 35, which is anticipated to improve operational efficiency.
Looking ahead, Mativ's management expressed optimism about long-term growth prospects, driven by macroeconomic factors and increasing demand for its products in filtration, healthcare, and sustainable packaging. The company expects to achieve growth rates that exceed general economic growth in its primary markets, particularly in the FAM segment. Mativ is also focused on leveraging synergies from its recent merger and divestiture to enhance its competitive position in the specialty materials market.
About Mativ Holdings, Inc.
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