Glatfelter's Strategic Transformation
Spunlace
Financial Trends
Positioned for volume growth recovery
Peak revenue in 2020 driven by global surge for nonwoven
materials driven by COVID
Revenue & Shipment Trend
$ in millions
93,680
76,204
81,111
76,069
78,220
2021 volume softness due to supply chain inventory correction
starting in mid-2021
$420
$359
$364
$362
$343
Applications such as Automotive, Aerospace and Hospital
Operating Room recovering after slowdown due to COVID
2017
2018
2019
2020
2021
Profitability impacted by inflation
Revenue
--Tons Sold (MT)
16
Operational excellence and CI programs improving efficiencies;
most sites currently operating below full capacity
Pass-through of raw material inflation in place with larger
Consumer and Medical accounts, but majority of Sontara
Professional business on annual pricing and currently lagging in
cost recovery
2021 significantly challenged by energy and raw material inflation
10% price increase announced in Oct. 2021 to help offset rising
energy and input costs
Announced leadership realignment to enhance focus and
immediately address near term challenges and accelerate
turnaround
(*) EBITDA based on IFRS. Figures translated to USD at USD/DKK = 6.28.
EBITDA* & EBITDA Margin
11.9%
8.2%
5.9%
6.1%
$50.0
5.6%
$29.4
$22.2
$21.4
$19.1
2017
2018
2019
2020
2021
EBITDA
EBITDA Margin %
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